Despite above-average production profits, mortgage banks saw a decline in 2021 from record profits in 2020, the Mortgage Bankers Association reported Monday.
Category: News and Trends
MBA NewsLink 2022 Tech All-Star: Harry Gardner of ICE Mortgage Technology
This isn’t Harry Gardner’s first rodeo. This mortgage technology pioneer has received the MBA Tech All-Star Award twice before.
MBA NewsLink 2022 Tech All-Star: Christy Moss, CMB, of FormFree
Christy Moss, CMB, has spent 35 years in housing finance with the singular goal of leaving the industry better than she found it. The former “face of Fannie Mae,” who helped hundreds of the GSE’s lenders gain seller status, is now doing just that as the head of sales and marketing at FormFree, a verification technology provider.
MBA NewsLink 2022 Tech All-Star: Eloise Schmitz of LoanNEX
Gone are the days of back-and-forth emails, notifications, PDFs, prospective loans and trailing documents to sell or invest in a non-agency loan, thanks to Eloise Schmitz, CEO and co-founder of LoanNEX and a recipient of the MBA NewsLink 2022 Tech All-Star Award.
People in the News Apr. 12, 2022: Big Changes at Fannie Mae
Fannie Mae, Washington, D.C., announced Board Chair Sheila C. Bair and CEO Hugh R. Frater will resign effective May 1. The Board elected Michael J. Heid to succeed Bair and appointed Fannie Mae President David Benson as Interim CEO and Board member.
MBA Honors 2022 Tech All-Stars
LAS VEGAS—The Mortgage Bankers Association awarded the MBA NewsLink Tech All-Star Award on Tuesday to three visionary leaders in the mortgage technology industry.
To the Point with Bob: Reducing FHA’s MIP
In the latest edition of To the Point with Bob, MBA President & CEO Bob Broeksmit, CMB, outlines MBA’s support of a reduction in the FHA Mortgage Insurance Premium set by HUD.
MBA Advocacy Update Monday Apr. 11, 2022
MBA President and CEO Bob Broeksmit, CMB, penned a new blog post emphasizing MBA’s continued support for a reduction of FHA’s mortgage insurance premium. On Wednesday, the House Financial Services Committee held a hearing featuring testimony from Treasury Secretary Janet Yellen on the state of the international financial system. And on Thursday, the Senate confirmed Judge Ketanji Brown Jackson to the U.S. Supreme Court, making her the first Black woman to serve as a Supreme Court justice.
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“After a truly phenomenal ride for mortgage companies, more difficult times are expected in 2022 and possibly beyond. The widespread upward pressure on rates will diminish rate-term refinance volume and housing inventory shortages pose challenges for purchase originations. Staying profitable will require prudent cost management, as well as more reliance on servicing operations to serve as a hedge against production declines.”
–MBA Vice President of Industry Analysis Marina Walsh, CMB.
Michael McFadden of OptiFunder: CFOs Embrace Tech for Strategic Advantages to their Organizations
CFOs across industries are embracing technology to gain control, reduce costs and streamline operations, structuring for success amid a turbulent environment. In fact, CFO-focused technology is some of the most exciting and disruptive tech in our industry.