On Wednesday, the Consumer Financial Protection Bureau issued a statement in conjunction with other federal and state financial regulators that announced the end of Regulation X mortgage servicing flexibilities that have been in place since April 2020 as a result of the COVID-19 pandemic.
Category: News and Trends
MBA Chart of the Week Nov. 12, 2021: Mortgage Delinquency Rate & Unemployment Rate
The delinquency rate for mortgage loans on one‐to‐four‐unit residential properties fell to a seasonally adjusted rate of 4.88 percent of all loans outstanding at the end of the third quarter, according to the Mortgage Bankers Association’s National Delinquency Survey, released last week.
MBA CONVERGENCE Partner Profile: Stephanie Moulton
The Ohio State University is a key leader in CONVERGENCE Columbus; Dr. Stephanie Moulton is the co-lead of the Evaluation Framework Working Group for CONVERGENCE Columbus.
Dealmaker: Newmark Arranges $64M Office Sale
Newmark, New York, sold 1301 Dove, a 10-story, 215,000-square-foot office building in Newport Beach for $64 million, or $298 per square foot.
Faith Schwartz of Housing Finance Strategies: Three Keys to the Future of Appraisal
There can be no debate that bias must be eradicated from the collateral valuation process. While some may question the cause or amount of bias, the fact is we need to eliminate any bias from the system.
The Week Ahead Nov. 15, 2021: The Calm Before The Black Friday(s)
Good morning! Happy week before Thanksgiving Week. Here are a few things to look out for this week:
CREF22 in San Diego Feb. 13-16
The Mortgage Bankers Association’s Commercial Real Estate Finance/Multifamily Housing Convention & Expo takes place Feb. 13-16 at the Manchester Grand Hyatt in San Diego.
Quote
“There are deeply embedded structural, market and policy factors that have contributed to the racial homeownership gap over the past century—and there is no quick, easy solution. CONVERGENCE alone won’t eliminate the homeownership gap here in Columbus- but we must start somewhere.”
–Dr. Stephanie Moulton, Professor with the John Glenn College of Public Affairs at The Ohio State University, Columbus, Ohio and co-lead of the Evaluation Framework Working Group for CONVERGENCE Columbus.
Rick Triola of NotaryCam: Worried About RON Storage? Stream It
Both Fannie Mae and Freddie Mac have updated their selling guides to state that lenders must retain the audio-video recording of the RON transaction for the greater of either (a) the minimum period required by the state in which the notary is licensed or (b) 10 years. This guideline has left a lot of lenders wondering just how to store all that audio-video footage…and spurred a new crop of vendors ready to meet this “need.”
MBA: Mortgage Delinquencies Decline for 5th Straight Quarter
Mortgage delinquencies fell for the fifth straight quarter to well under 5 percent, the Mortgage Bankers Association reported Wednesday.