. As competition heats up in the face of the anticipated slowdown in mortgage demand, adjustable-rate loans will become an important competitive tool for many loan originators.
Category: News and Trends
As Prices Soar, Home Affordability Declines for Average Workers
ATTOM, Irvine, Calif., reported median home prices of single-family homes and condos in the second quarter were less affordable than historical averages in 61 percent of counties across the nation in the second quarter, up from 48 percent in the first quarter, to the highest level in two years.
White House Names Sandra L. Thompson Acting FHFA Director
The White House appointed Sandra L. Thompson as Acting Director of the Federal Housing Finance Agency effective immediately.
Industry Briefs June 25, 2021
Lodasoft, Livonia, Mich., integrated with the Optimal Blue PPE engine through Black Knight, Jacksonville, Fla. The integration enables mortgage lenders to deliver Optimal Blue PPE pricing workflows into Lodasoft’s platform
Dealmaker: Mesa West Capital Originates $40M for Austin Apartments
Mesa West Capital, Los Angeles, originated $40 million in first mortgage debt to finance an off-market acquisition of a 309-unit Austin, Texas apartment property.
Call for Speakers: MBA Risk Management, QA & Fraud Prevention Forum–Deadline June 29
Full session and individual speaker proposals are now being accepted for the Mortgage Bankers Association’s Risk Management, QA and Fraud Prevention Forum 2021, taking place Sept. 28–29 via MBA LIVE.
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 with its annual DEI Leadership Awards.
Supreme Court Rules FHFA Director ‘Removable at Will;’ Calabria Out
The Supreme Court on Wednesday ruled that the structure of the Federal Housing Finance Agency is unconstitutional, allowing the President to remove its director at will. Shortly after the ruling, The Biden Administration removed Mark Calabria as FHFA Director.
Quote
“MBA has worked with the Acting Director extensively in the past and looks forward to continuing this relationship as she addresses a variety of housing finance issues, including the conservatorship of Fannie Mae and Freddie Mac. This will include protecting taxpayers, serving the GSEs’ affordable housing mission, and ensuring a stable secondary mortgage market for a wide variety of single-family and multifamily lenders, regardless of size or business model.”
–MBA President & CEO Robert Broeksmit, CMB, on Sandra Thompson’s nomination as Acting Director of the Federal Housing Finance Agency.
Paul Martin: The Time for Title Standards Is Now
Over the past several years, the hurdles to creating digital property transactions have been overcome with increasing speed. Between the rising adoption of the Mortgage Industry Standards Maintenance Organization (MISMO) SMART Docs and eNotes to remote online notarizations (RON), today’s housing industry finds itself standing on the precipice of a truly digital future.