ADP, Roseland, N.J., said private-sector employment fell in January for the first time since December 2020, delivering a jolt to the post-pandemic economic recovery.
Category: News and Trends
TransUnion: Recent Vintage Loans Perform Well Even as More Non-Prime Consumers Gain Credit
TransUnion, Chicago, said consumer credit performance maintained healthy levels across auto, credit card, personal loans and mortgages in the fourth quarter even as lenders continued to ramp up new account origination growth in the non-prime segment of the market.
Strong Housing Market Boosts Sharp Rise in Homeowner Equity
ATTOM, Irvine, Calif., said mortgage residential properties considered “equity-rich” jumped to nearly 42 percent in the fourth quarter as rising home prices boosted homeowner equity.
Dealmaker: M&T Realty Capital Corp. Provides $43M for 3 N.Y. Properties
M&T Realty Capital Corp., Baltimore, closed three deals totaling $43 million for multifamily and office properties in upstate New York.
People in the News Feb. 3, 2022: MBA Names Stephanie Milner AVP of Multifamily
The Mortgage Bankers Association announced Stephanie Tatum Milner as Associate Vice President of Multifamily.
MBA National Advocacy Conference in Washington, D.C., Apr. 26-27
The Mortgage Bankers Association’s annual National Advocacy Conference takes place Apr. 26-27 at the Renaissance Downtown Hotel in Washington, D.C.
Quote
“As home prices kept rising, so did the equity built up in residential properties, to the point where close to half of all mortgage payers around the country found themselves in equity-rich territory.”
–Todd Teta, Chief Product Officer with ATTOM, Irvine, Calif.
MBA Weekly Applications Survey Feb. 2, 2022: The Race to Refinance is On
Mortgage interest rates reached their highest level in nearly two years, driving a rush for borrowers to refinance before they go higher, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending January 28.
Chris Joles of Planet Home Lending: ESG– Pay Attention, NOW
Conversations about ESG (environmental social governance) and sustainability standards have rippled from investment fund and public company arenas to mortgage banking regulators, investors and consumers. That expansion makes it critical for private companies, especially those in financial services, to consider implementing ESG now rather than later.
Orest Tomaselli of CondoTek on Condo/Co-op Compliance
Orest Tomaselli is President of the Condominium and Cooperative Review Division of CondoTek, Philadelphia, and owner of Strategic Inspections, a national reserve study provider.