Mark Dangelo notes shiny new technologies are introduced weekly. “The focus is on flooding the competitors with innovation and, most recently, M&As. The likely solutions are not that straightforward or alluring.”
Category: News and Trends
Dealmaker: Dwight Mortgage Trust Closes Loans in California, Texas
Dwight Mortgage Trust, New York, closed a $48 million construction loan for a mixed-use multifamily development in San Diego, and a $36 million bridge loan to refinance a waterfront apartment community in Corpus Christi, Texas.
Quote of the Day
“Homebuyer affordability conditions declined somewhat in April and remain elevated overall. Economic uncertainty and high mortgage rates continue to weigh on prospective buyers’ decisions on whether to enter the housing market.”
–MBA’s Edward Seiler
ICE First Look: Foreclosure Activity Creeps up
Intercontinental Exchange Inc., Atlanta, released its First Look at April 2025 data, finding that the national delinquency rate is up to 3.22%–up 1 basis point from March and 13 basis points from April 2024.
Quote of the Day
“Mortgage rates reached its highest level since January, following higher Treasury yields. Additional market volatility has added to the increase, keeping the mortgage-Treasury spread wider than it was earlier this year.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist.
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 1.2% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 23, 2025.
U.S. House Prices Rise 4.0% YoY: FHFA
U.S. house prices rose 4.0% between the first quarter of 2024 and the first quarter of 2025, according to the U.S. Federal Housing Finance Agency House Price Index.
ACES: Critical Defect Rate for Q4 2024 Drops
ACES Quality Management, Denver, saw the overall critical defect rate for Q4 2024 drop to 1.16%, the second lowest level since ACES began compiling the report.
MBA Premier Member Editorial: Why Coverage Rate isn’t the Primary Success Metric for Income Verification
Look at the completion rate rather than the coverage rate to lower verification costs, Truework Co-Founder and General manager Ethan Winchell writes.
MISMO Publishes Enhanced Reference Models
MISMO, the real estate finance industry’s standards organization, announced that enhancements to the MISMO Version 3.6 Reference Model and the new MISMO Version 3.6.1 Reference Model have reached “Candidate Recommendation” status, which means that they have been thoroughly reviewed by a wide range of organizations and industry participants and are available for industry use.