The Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a ‘Call to Action’ on Monday to its 70,000-plus members urging them to tell their elected officials to not use government-sponsored enterprise guaranty fees (g-fees) as a source of funding offsets.
Category: News and Trends
Share of Mortgage Loans in Forbearance Slightly Dips to 3.48%
Loans in forbearance fell for the 21st consecutive week, the Mortgage Bankers Association said on Monday.
Commercial Prices Grow Again in June, Led by Apartments
Real Capital Analytics, New York, said U.S. commercial property price growth shifted higher in June, led by the apartment sector.
Dealmaker: Sonnenblick-Eichner Co. Arranges $38M for Portofino Hotel & Marina
Sonnenblick-Eichner Co., Beverly Hills, Calif. arranged $38 million in interim first mortgage leasehold financing for The Portofino Hotel & Marina, a full-service hotel in Redondo Beach, Calif.
Key Takeaways from MBA Webinar: It’s a Wonderful Life Insurance Company Market
The Mortgage Bankers Association co-hosted a virtual panel with the California Mortgage Bankers Association and the American Council of Life Insurers on July 14. Five panelists represented firms with a variety of commercial real estate debt and equity strategies and buckets of capital including substantial life insurance company capital.
Personnel News From Walker & Dunlop, JLL
Walker & Dunlop, Bethesda, Md., expanded its small multifamily lending team to the western United States by adding Managing Director Ana Ramos.
FHA Establishes New, Streamlined COVID-19 Recovery Loss Mitigation Options
The Federal Housing Administration on Friday published Mortgagee Letter 2021-18, COVID-19 Recovery Loss Mitigation Options. The ML outlines assistance for homeowners who have been financially impacted by the COVID-19 pandemic to remain in their homes with new, streamlined loss mitigation options.
MBA Advocacy Update Week of July 26 2021
On Friday, the Biden administration announced an expansion of COVID-19 mortgage loan modification options for FHA, VA and USDA borrowers who are unable to resume their mortgage payments after exiting forbearance.
Quote
“As is typical for mid-month reporting, forbearance exits slowed, and there was a slight increase in new requests. The net result was a small drop in the share of loans in forbearance – the 21st consecutive week of declines.”
–MBA Chief Economist Mike Fratantoni.
MBA Chart of the Week July 23 2021: Retail Production Channel Cost to Originate
In this week’s MBA Chart of the Week, we focus on the production costs in the retail channel. The cost to originate averaged $8,243 per loan in 2020, a $453 per loan improvement over 2019.