Here’s a summary of current housing market reports that came across the MBA NewsLink desk:
Category: News and Trends
ADP: September Private-Sector Employment Up 568,000
In the first of three key employment barometers this week, ADP, Vineland, N.J., said private-sector employment increased by 568,000 jobs from August to September.
Dealmaker: JLL Secures $247M for Offices in San Francisco, Boca Raton
JLL Capital Markets, Chicago, arranged $246.5 million for office properties in California and Florida.
People in the News Oct. 7, 2021
Equity National Title, Providence, R.I., named Jennifer Pensa Chief Operating Officer. She will manage day-to-day operations of the business, managing and strategically optimizing systems, technology and production processes.
mPowering You: MBA’s Summit for Women in Real Estate Finance Oct. 16
mPowering You, MBA’s Summit for Women in Real Estate Finance, takes place Saturday, Oct. 16 at the San Diego Convention Center just ahead of the MBA Annual Convention & Expo (Oct. 17-20).
MBA: September Commercial, Multifamily Mortgage Delinquencies Decline
Delinquency rates for mortgages backed by commercial and multifamily properties declined in September, the Mortgage Bankers Association’s latest CREF Loan Performance Survey reported.
MBA Weekly Applications Survey Oct. 6, 2021: Rising Rates Send Applications Tumbling
The highest interest rates since July sent mortgage applications—and in particular, refinance applications—down sharply, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending October 1.
Quote
“It is clear Ms. McCargo has the requisite deep understanding of key housing finance policy issues, as well as a demonstrated track record of working collaboratively with industry, government and housing advocates, to lead Ginnie Mae effectively.
–MBA President & CEO Robert Broeksmit, CMB, in a letter of support to the Senate Banking Committee for Alanna McCargo’s nomination to head Ginnie Mae.
Industry Briefs Oct. 7, 2021: WFG Whitepaper Examines Title Agent-Underwriter Relationship
WFG National Title Insurance Co., Portland Ore., published a new whitepaper that explores the title agent-underwriter relationship in great detail. The paper, “Creating a True Partnership Between Title Agencies and Underwriters,” is available as a free download on the WFG Blocks website.
Joseph D’Urso of TitleEase on Franchising Title Agencies
MBA NewsLink spoke with Joseph D’Urso, CEO of TitleEase, on the advantages of the franchise model and its potential benefits to lenders.