Between stay-at-home orders, historical levels of refinance activity and the big increase in forbearance requests, mortgage originators and servicers spent the past year continually creating and re-creating ways to get things done. Here’s some of the things we saw.
Category: News and Trends
Hassan Rashid: From Promise to Reality: Achieve Digital Transformation with Automation
The financial services industry as a whole continues to evolve at a rapid pace, driven by customer expectations, advancements in technology, and heightened competition from incumbents and new entrants. Lenders that seize this opportunity will not only survive, but ultimately thrive well into the future. In contrast, lenders content on simply surviving, taking more of a “wait-and-see” approach, may quickly become irrelevant.
Bob Mansur, CMB, AMP: Are Your LOs Behaving the Way You Expect?
The first article of this series addressed the use of behavioral activities as enabling goals. Their purpose: to help LOs who were struggling to reach the production goals to which you and they had agreed. This follow-up piece looks at management’s additional actions to consistently communicate about those observable activity goals.
MBA Asks FHFA to Align Actions on Climate Change with Core Principles
The Mortgage Bankers Association recommended the Federal Housing Finance Agency align its actions on climate change and natural disaster risks with a set of core principles to reduce risk.
MBA: Share of Mortgage Loans in Forbearance Decreases to 4.50%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 16 basis points to 4.5% of servicers’ portfolio volume as of Apr. 11 from 4.66% the prior week. MBA estimates 2.3 million homeowners are in forbearance plans.
Freddie Mac: Expanded Pandemic Benefits Helping Unemployed Renters
Expanded unemployment benefits and federal stimulus payments are benefiting unemployed renters during COVID-19, reported Freddie Mac Multifamily, McLean, Va.
‘Adapt and Pivot:’ MBA’s Marcia Davies and Elaine Howard on the MBA 2021 Spring Conference
When the full effects of the coronavirus pandemic began hitting in March 2020, the Mortgage Bankers Association quickly realized that life as usual—and business as usual—could take a long time to return to “normal.”
Brace for Impact: CRE Finance Implications as LIBOR Transition Approaches
The finance industry’s march towards transition away from LIBOR index continues as the third quarter approaches. For all the talk of upward revisions to economic growth projections, the market still awaits the first balance sheet commercial mortgage loan based on SOFR index.
MBA Seeks Nominations for Residential Board of Governors; Deadline Apr. 30
On behalf of Mortgage Bankers Association Residential Board of Governors (RESBOG) Chair John Hedlund and Vice Chair Al Blank, MBA seeks members’ recommendations for individuals/companies to serve on RESBOG in future terms. This is an important process to develop MBA’s leaders among the residential policy membership.
Dealmaker: Avison Young Closes $31M Miami Hotel Sale
Avison Young’s Florida Capital Markets Group closed the sale of the Residence Inn Coconut Grove, a three-building, 140-unit hotel at 2835 Tigertail Avenue in Miami’s Coconut Grove area.