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.
Category: News and Trends
Call for Speakers: MBA Independent Mortgage Bankers Conference 2022: Deadline Aug. 20
The Mortgage Bankers Association is now accepting speaker proposals for its Independent Mortgage Bankers Conference 2022, taking place January 24-27 in Nashville, Tenn. This annual event is the largest gathering of non-bank mortgage lenders and is purpose-built for the IMB.
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.
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.
June New Home Sales Down 6.6%
June new home sales fell well below consensus expectations, HUD and the Census Bureau reported Monday, though analysts did not appear to be too worried by the results.
MBA MAA ‘Call to Action’ on GSE ‘G-Fees’
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.
Quote
“A month ago, I described April’s [housing price growth] performance as ‘truly extraordinary,’ and this month I find myself running out of superlatives.”
–Craig Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI.
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.
MBA DEI Leadership Awards: Nomination Deadline Aug. 13
Inspire change; share success. The Mortgage Bankers Association recognizes residential and commercial/multifamily members who show leadership in the areas of Diversity, Equity and Inclusion (DEI) internally through market outreach efforts …
Industry Briefs July 28, 2021
NotaryCam, Newport Beach, Calif., partnered with RUTH RUHL P.C., a Texas-based law firm, to add security and automation to the firm’s loss mitigation services through remote online notarization.