“Michelle Bowman has a deep understanding of financial markets and monetary policy and has shown a commitment to balanced regulatory oversight throughout her impressive career, including as a member of the Fed Board of Governors since 2018.”
–MBA’s President and CEO Bob Broeksmit, CMB, on Federal Reserve Board Member Michelle Bowman’s nomination to be the next Vice Chair for Supervision
Walker & Dunlop, Bethesda, Md., arranged the $420 million recapitalization of Hub, a 750-unit high-rise multifamily building in downtown Brooklyn, N.Y.
Mortgage Capital Trading, San Diego, found a 27.91% increase in mortgage lock volume in February compared with January.
Northwestern Mutual, Milwaukee, Wis., released its latest planning and progress study, finding that among Americans who are not currently homeowners, 53% say owning a home will never be financially affordable.
The level of commercial and multifamily mortgage debt outstanding at the end of 2024 was $172 billion higher than at the end of 2023, MBA reported.
MBA’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 2 basis points from 0.40% of servicers’ portfolio volume in the prior month to 0.38% as of Feb. 28, 2025.
“Despite February’s monthly decline of loans in forbearance, the estimated number of forbearances and loan workouts increased compared to one year ago.”
–MBA’s Vice President of Industry Analysis Marina Walsh, CMB
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $40 on each loan they originated in the fourth quarter, a decrease from the reported net profit of $701 per loan in the third quarter, MBA’s Quarterly Mortgage Bankers Performance Report found.
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of 4 basis points in the fourth quarter, a decrease from the net profit of 18 basis points in the third quarter, MBA’s Quarterly Mortgage Bankers Performance Report found.
This week’s top legislative and policy news from the Mortgage Bankers Association.
