Redfin, Seattle, reported the typical homebuyer’s monthly mortgage payment shot up 39%, the largest year-over-year gain on record, as the average 30-year-fixed rate hovered at 5.1%.
Category: News and Trends
MBA Commercial/Multifamily Finance Servicing and Technology Conference in Los Angeles May 15-18
The Mortgage Bankers Association’s Commercial/Multifamily Finance Servicing and Technology Conference takes place May 15-18 at the JW Marriott Los Angeles.
Chris Lewis of DocMagic: 3 Keys to Moving Forward with RON Now
Remote online notarization is the critical component to the industry’s realization of a truly 100% paperless, fully remote, no-touch mortgage closing. In the journey to deliver a digital lending experience, the offering and acceptance of RON completes a transformation that promises to provide benefits to lenders and the borrowers they serve.
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“More than ever, lenders need to understand the personal story behind every borrower and consider a wider range of factors that determine whether a borrower qualifies for financing. In order to stay competitive–especially in a rising interest rate environment–they need better tools for calculating borrower income not only quickly, but consistently. And if they don’t have these tools, they need to find them fast.”
–Roby Robertson, Head Product Owner, Origination Automation, LoanLogics.
Ignoring Income Defects Could Spell Disaster
Back in 2015, Tesla CEO Elon Musk famously promised that self-driving cars would be a common sight on American roadways within the next three years. He wasn’t alone—Nissan and other automakers thought fully autonomous vehicles would arrive by 2020.
Borrower Behavior Changing as Home Affordability Drops
Though home price appreciation slowed slightly in March, 30-year mortgage interest rates above 5 percent have pushed affordability to nearly its worst-ever level, said Black Knight, Jacksonville, Fla.
Continuing Strong Performance for Institutional-Grade Real Estate
The National Council of Real Estate Investment Fiduciaries, Chicago, reported institutional-quality commercial real estate returned 5.33 percent in the first quarter.
Dealmaker: JLL Income Property Trust Acquires Atlanta Distribution Center for $54M
JLL Income Property Trust, Chicago, acquired Northeast Atlanta Distribution Center, a 458,000-square-foot Class A industrial property, for $54 million.
People in the News May 3 2022: Matt Galligan Joins BaseCap as Strategic Advisor
BaseCap, New York, announced Matt Galligan will serve as a strategic advisor to help expand its business in the mortgage and financial services industry.
Souren Sarkar, CMB, of Nexval: How Robotic Process Automation Creates More Efficient Lending
RPA technologies have been proven to shrink loan origination and processing times by as much as 80% while increasing post-close quality control efficiencies by as much as 20%. More importantly, they empower lenders to free up resources to deliver better customer service to borrowers. And yet, there is relatively little discussion or understanding about how RPA actually works—let alone how powerful it can be.