Inflation as measured by the Consumer Price Index reached an annual rate of nearly 8% in February. Over the past 12 months, inflation has increased steadily from less than 2% to 7.9%, compared to an average just under 2% in the five years prior.
Category: News and Trends
MISMO Seeks Public Comment on Dataset Standard for IRS Form 4506-C
MISMO®, the real estate finance industry standards organization, seeks public comment on its new dataset standard for the Internal Revenue Service Request for Transcript of Tax Return (IRS Form 4506-C). The 60-day public comment period for this dataset runs through May 18.
The Week Ahead, Mar. 21, 2022: 5 Things to Know
Good morning and happy Monday! Here’s what’s happening in the real estate finance world this week:
Jim Paolino of Lodestar: Perfect Storm of Market Trends May Finally Drive Automation Focus to CX
The Great Resignation, in combination with a sharp pivot from refinance to purchase transactions, may force lenders to digitize back end functions that have long been manual.
The MBA Home for All Pledge
The Home for All Pledge represents our industry’s long-term commitment on a sustained and holistic approach to address racial inequities in housing.
MBA State & Local Workshop in Washington Apr. 25-26
The Mortgage Bankers Association’s State and Local Workshop 2022 takes place Apr. 25-26 at the Renaissance Downtown Hotel in Washington, D.C., just ahead of the MBA National Advocacy Conference.
Quote
“The more likely reasons for the drop in sales were the ongoing lack of housing inventory and the resulting increase in home values that priced some buyers out of the market. From a lending perspective, while the number of sales declined somewhat, with 15% home-price growth, the dollar volume of sales and purchase originations have increased over the past year.”
–Mike Fratantoni, Chief Economist with the Mortgage Bankers Association.
Rick Triola of NotaryCam: It’s Time for a New Definition of Equity
The mortgage industry more aptly seemed to agree to assign the word “historic” to 2021, specifically when referencing the mortgage industry and its production and growth during the year. So, what word will define 2022 in the mortgage industry? Equity.
Mark P. Dangelo: The Rapid Phase Shift of Organizational Competencies and Operational Mindsets
As technologies and their principles pushed forth by digital transformation initiatives employing such as cloud, Web 3.0, decentralized finance (DeFi), and blockchain mortgage, the enterprise transactional mindsets and systems of record must evolve into stackable solutions—or risk stranding investments and customers on vendor platforms that cannot adapt to future requirements.
Fabio Rivas of LenderClose: Knowledge is Power: Creating Borrower Partnerships with Information
Being a better educator starts with having a full picture of the borrower’s financial situation. By taking a consultative approach, loan officers can ask questions to better understand what goals the potential borrower is trying to achieve. LOs can then provide the appropriate financial education that is relevant to best prepare them for homeownership.