Mortgage rates fell last week—but so did mortgage applications, refinance applications in particular, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending October 29.
Category: News and Trends
MBA, Trade Groups Urge Senate Banking Committee to Approve LIBOR ‘Tough Legacy’ Legislation
The Mortgage Bankers Association and nearly two dozen industry trade groups urged members of the Senate Banking Committee to support federal legislation to address “tough legacy” contracts that currently reference LIBOR.
Waning Refi Volumes Spur Decline in LO Commissions
SimpleNexus, Lehi, Utah, said declining loan volumes in the third quarter pushed quarterly loan originator commission earnings by 17%.
MBA Accounting & Financial Management Conference in Nashville Nov. 10-12
The Mortgage Bankers Association’s Accounting & Financial Management Conference takes place Nov. 10-12 at the Grand Hyatt Nashville.
Timothy Raty of Mortgage Cadence: USDA and the GSEs’ New Uniform Security Instruments
While Rural Development’s requirements lack details specific to the content of the security instruments used, they do have plenty of other requirements regarding the servicing of a loan which may not be completely compatible with the covenants within the SIs. The following summarizes the types of conflicts, additional requirements and near conflicts that may exist
People in the News Nov. 4, 2021
Cherry Creek Mortgage, Denver, promoted Susan Vick to Vice President of Marketing.
Jennifer Henry of Equifax: Accelerating Access to Credit for Marginalized Communities Can Provide Benefits on a National Scale
While there are more tools, technology advancements, access to data and specific programs tailored to minority consumers and marginalized groups than ever before, there are still additional steps the industry can take to truly make homeownership a reality for all.
MBA Weekly Applications Survey Nov. 3, 2021: Refis Fall to Nearly 2-Year Low
Mortgage rates fell last week—but so did mortgage applications, refinance applications in particular, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending October 29.
Industry Briefs Nov. 3, 2021: Pretium Acquires Anchor Loans
Pretium, New York, a specialized investment management firm with $30 billion in assets, acquired Anchor Loans LP, a provider of financing to residential real estate investors and entrepreneurs
CFPB: Credit Report Disputes More Common in Minority Neighborhoods
The Consumer Financial Protection Bureau released research reporting consumers in majority Black and Hispanic neighborhoods, as well as younger consumers and those with low credit scores, are far more likely to have disputes appear on their credit reports.