The Mortgage Bankers Association introduces a new offering to its members — the Diversity, Equity and Inclusion (DEI) Study — separately designed and compiled for both the residential and commercial/multifamily sides of the real estate finance industry
Category: News and Trends
MBA Launches CONVERGENCE: Columbus
The Mortgage Bankers Association this week launched a major pilot program to promote minority homeownership opportunities in Columbus, Ohio.
MBA, Trade Groups Reiterate Opposition to G-Fee Offsets
Fresh off of last week’s regulatory victory in which the Federal Housing Finance Agency withdrew its controversial adverse market refinance fee, the Mortgage Bankers Association and several dozen industry trade groups took fresh aim at another controversial practice—a move in Congress to use the government-sponsored enterprises’ guaranty fees—known as “g-fees”—to offset funding for non-housing programs.
Black Knight: 1.55 Million Serious Delinquencies Nag Market
Black Knight, Jacksonville, Fla., said the national delinquency rate hit its lowest level since the onset of the pandemic in June and is now back below its pre-Great Recession average. Despite the improvement, more than 1.5 million homeowners remain 90 or more days past due on their mortgages but who are not in foreclosure, still nearly four times pre-pandemic levels.
June Existing Home Sales Up 1.4%
Existing home sales increased in June, the first monthly increase in five months, the National Association of Realtors reported Thursday.
Unemployment Claims Increase Reflects Recent Volatility
Initial claims for unemployment insurance jumped by 51,000 last week to 419,000, the Labor Department reported Thursday, continuing a recent trend of volatility that has seen claims take two steps forward, one step backward.
Quote
“The unintended effects of any proposed g-fee increase or extension will be to raise the cost of homeownership for all Americans, and low- to moderate-income and underserved individuals in particular. In addition, it would curtail refinance activity that helps to keep creditworthy borrowers in their homes. Moreover, implementing yet another g-fee increase will hinder policymakers’ abilities to execute the necessary reforms required of the GSEs in the years ahead.”
–From an MBA/trade group letter to senators strongly opposing any legislative proposals to increase or modify GSE guaranty fees for funding offsets.
MBA, Trade Groups Urge HUD to Address FHA Affordable Housing Delays
The Mortgage Bankers Association and a dozen industry trade groups urged HUD to address “severe processing delays” that are impeding financing of affordable housing in the Federal Housing Administration multifamily and healthcare programs.
Mark P. Dangelo: The Dark Matter Transforming M&A Post-Deal Landscapes, Part 1
Industry 4.0 for banking and financial services is changing the landscape of the who, what, where, why, and how of M&A targets and post-deal actions. Prescriptions are out—a new framework is in due to non-stop deals, vast data, and layers upon layers of new innovations. M&A actions moving forward are all about “Are we asking the right questions?”
Dealmaker: JLL Secures $81M For Retail Portfolio
JLL Capital Markets, Chicago, secured $80.5 million in acquisition financing for a five-property grocery-anchored retail portfolio in the Philadelphia area.