Rabbet, Austin, Texas, released its annual 2021 Construction Payments Report, which found general contractors and subcontractors estimate that the cost of floating payments for wages and invoices represents $136 billion in excess cost to the industry, a 36 percent increase from the cost reported in 2020.
Category: News and Trends
Dealmaker: Walker & Dunlop Arranges $160M in Multifamily, Joint Venture
Walker & Dunlop, Bethesda, arranged $160 million for a multifamily building in Yonkers, N.Y., and an undisclosed amount for a joint venture partnership.
Mark P. Dangelo: The Agenda Driving Leadership Data, Analytics and Hubs
In an age of digital, dealing with unknown unknowns is a reality for all leadership personnel incorporating innovations, conducting post-deal M&A events, or seeking relevant customer solutions. However, how can we determine the metrics, KPI’s, or targeted control panels that will be applicable against evolving data science demands and revolutionary access technologies?
Industry Briefs Nov. 23, 2021: Fitch Says Banks Relatively Unscathed by Pandemic
Fitch Rating, New York, said global financial institutions’ credit ratings have been affected less severely by the pandemic than by the two previous crises this century.
Tim Anderson of Evolve Mortgage Services: Second Time’s a Charm for eModifications
Tim Anderson is President of the eMortgage Division for Evolve Mortgage Services, where he is responsible for overseeing deployment of the company’s digital closing platform and developing strategic partner relationships.
MISMO Issues Call for Participants to Streamline Exchange of Pre-Closing Title Data
MISMO®, the real estate finance industry’s standards organization, seeks participants for an initiative focused on standardizing pre-closing title document datasets to streamline the business process and improve efficiency.
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“The changes to this rule, if finalized as proposed, will encourage the Enterprises to operate as prudent managers and distributors of mortgage credit risk while promoting both safety and soundness and broad access to sustainable credit for borrowers.”
–MBA President & CEO Robert Broeksmit, CMB, in a letter to the Federal Housing Finance Agency on its proposed rulemaking on enhancements to it regulatory capital framework for Fannie Mae and Freddie Mac.
MBA Announces 2022 Affordable Rental Housing Advisory Council
The Mortgage Bankers Association announced members of its 2022 Affordable Rental Housing Advisory Council. The Advisory Councils on affordable rental housing and affordable homeownership were formed in 2019 to provide important strategic and practical guidance to MBA’s CONVERGENCE Initiative, the association’s affordable housing effort.
MBA Offices Closed Nov. 25/26
Mortgage Bankers Association offices will be closed on Thursday, Nov. 25 and Friday, Nov. 26 in observance of the Thanksgiving holidays.
Brian Hale of Mortgage Advisory Partners on the Current Market for Consultants
Brian Hale, a mortgage industry executive with more than 40 years of experience, recently launched a new consultancy business, Mortgage Advisory Partners, Newport Coast, Calif.