Because of the holiday weekend, the Mortgage Bankers Association’s weekly Forbearance & Call Volume Survey, which usually comes out on Mondays, will be released this afternoon at 4:00 p.m. ET.
Category: News and Trends

Grant Carlson: The June 29 Supreme Court Ruling on CDC Residential Eviction Moratorium
On Tuesday the U.S. Supreme Court in, a 5-4 ruling, declined to lift the national Center for Disease Control and Prevention’s residential eviction moratorium. The ruling responds to a request to lift the D.C. Federal District Court’s stay, which has effectively paused its order invalidating the CDC moratorium. Presumably, the CDC eviction moratorium will expire on July 31.

Mark P. Dangelo: aaS, the Building Blocks for an Uncertain Future, Part 3
Future market offerings and IT system delivery are being altered by the exponential expansion of granular, stackable aaS solutions. For industry leaders unaccustomed to using cross-industry building blocks and iterations of offerings, they will find declining profitability against rising industry disintermediation against their core products and services.

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“Artificial intelligence and related technologies, including machine learning have the potential to provide substantial benefits for participants in the mortgage lending industry and the consumers they serve. AI has particular potential in the area of credit underwriting where it can it be combined with alternative or non-traditional data to expand access to affordable (and sustainable) mortgage credit. Despite these benefits, broad adoption of AI has been slowed by uncertainty surrounding how AI fits within a regulatory framework that was largely created before its development.
–Pete Mills, MBA Senior Vice President of Residential Policy and Member Engagement.

Clint Salisbury: The RON Revelation–Why a Return to Normal Shouldn’t Mean a Return to the Status Quo
With recent events leading to a massive increase in the use of RON, borrowers have seen they can close on their mortgage from the convenience of their kitchen table, and they’re wondering why that can’t always be the case.

Unemployment Claims Hit New Post-Pandemic Low
Initial claims for unemployment insurance fell by more than 51,000 last week, reaching another post-pandemic low, the Labor Department said Thursday.

CFPB Report Finds ‘Wide-Ranging Violations of Law’ in 2020
The Consumer Financial Protection Bureau this week issued a report highlighting legal violations identified by the Bureau’s examinations in 2020.

MBA Letter Urges Senate Support of Julia Gordon Nomination as FHA Commissioner
The Mortgage Bankers Association urged the Senate Banking Committee to quickly approve Julia Gordon’s nomination as FHA Commissioner and forward her nomination for a full Senate vote.

MBA’s Teressa Lurk Earns HousingWire 2021 Marketing Leader Award
The Mortgage Bankers Association announced Teressa Lurk, Vice President of Marketing and Design, was recognized by HousingWire as a recipient of the publication’s inaugural 2021 Marketing Leader award, which recognizes creative and influential marketing minds in the housing industry.

As Consumer Spending Increases, Investor Renew Interest in Retail
Consumer spending on retail is on the rebound, eclipsing pre-COVID levels—and investors are taking notice.