First impressions are important, but last impressions can have a bigger impact. The closing ceremony is often one of the borrower’s last interactions with the lender, making it one of the most important steps in the mortgage process in relation to the borrower’s experience.
Category: News and Trends
Patrick Gluesing: After Rapids of Refinance, Quality Mortgages Calm the Waters
For the past two years, as rates plummeted to historical lows—due largely to outside factors—originators and servicers have enjoyed the rushing rapids of origination volume. Now that rates are rising and refi volumes have slowed, organizations need to find other areas of growth, such as non-QM loans and mortgage servicing rights.
‘Zombie’ Properties Increase Amid Jump in Foreclosure Activity
ATTOM, Irvine, Calif., said residential properties in the process of foreclosure rose by nearly 13 percent in the second quarter and by nearly 16 percent from a year ago.
Private-Sector Employment Slows; Initial Claims Fall to 53-Year Low
ADP, Roseland, N.J., on Thursday said private-sector employment came in below expectations. Meanwhile, the Labor Department reported initial claims for unemployment insurance fell to their lowest levels since 1969.
Trepp: Disruptions Sink Life Insurance Mortgage Returns
Trepp, New York, said life company investments are feeling the effects of major market events that have taken place since early 2022.
Mark P. Dangelo: Paradigm Shift: Data is the Material Value—Systems are Just Enablers
Data has always been valuable, but it has taken on new imperatives as an implication of continuous digital transformation. While cloud computing passes $500 billion in 2022, it will pale in comparison to the rise of digital fabrics where applications and platforms are merely a means to innovation adaptability. Digital fabrics may signal the first stage of failure for FinTech silos.
People in the News June 3, 2022: Inlanta Mortgage Promotes Paul Buege to CEO
Inlanta Mortgage, Pewaukee, Wis., promoted Paul Buege to CEO. He has been serving as Inlanta’s president and COO and will retain those responsibilities in addition to his new role.
Dealmaker: Eastern Mortgage Capital Funds $61M in HUD 223(f) Loans
Eastern Mortgage Capital, Burlington, Mass., provided $61 million for multifamily properties in Connecticut and Maine.
MISMO Issues Reporting Guide on Forbearance Data Exchange
MISMO®, the real estate finance industry standards organization, launched a new guide and sample credit response to help industry professionals using MISMO Reference Models v3.4 and v3.5 better report on loans that have been in or are in forbearance.
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“Under a backdrop of a tight labor market and elevated inflation, monthly job gains are closer to pre-pandemic levels. The job growth rate of hiring has tempered across all industries, while small businesses remain a source of concern as they struggle to keep up with larger firms that have been booming as of late.”
–Nela Richardson, chief economist with ADP, Roseland, N.J.