The Mortgage Bankers Association’s young professional’s group, mPact, welcomes a new chair this month for the Commercial Production Advisory Council, Berkadia’s Maggie Burke.
Category: News and Trends
Top 5 Things You Should Know About Being iLAD-Ready
MISMO, the industry’s standards organization, developed iLAD through close collaboration across the industry, including with lenders, vendors, IT companies and GSEs. The MISMO Loan Application Data Exchange (LADE) Development Work Group is working to ensure these iLAD specifications will continue to evolve to meet industry needs.
Capital of Consequence: Bridge Lending is Trending
Bridge lending remains an active piece of the commercial real estate finance pie heading into the anticipated economic recovery in the second half of 2021. These products and the large number of institutions offering them to sponsors are defining features of an economy in transition.
MISMO Seeks Member Comment on Enhanced Logical Data Dictionary
MISMO® announced it is seeking member comment on its Enhanced Logical Data Dictionary (ELDD) for a 60-day comment period.
Troy Baars: Market Volatility Drives the Need for Speed in GNMA Spec Pool Formation
While there is a tremendous benefit to adding Ginnie Mae specified (spec) pools as part of a diversified execution strategy, lenders cannot continue to operate as if it’s business as usual when faced with the current volatility in the mortgage-backed securities market. Instead, speed must become of the essence, and lenders need to move as quickly as possible while monitoring the MBS market closely to continue effectively utilizing this strategy and maximize their secondary profitability.
MBA Advocacy Update Mar. 29, 2021
Last week, Treasury Department Secretary Janet Yellen and Federal Reserve Chair Jerome Powell appeared before Congress to give their quarterly CARES Act update. On Tuesday, HUD announced FHA’s temporary allowance of endorsement of loans in forbearance will not be renewed and will expire on March 31.
MBA Chart of the Week Mar. 26, 2021: IMB Production Revenues
In this Chart of the Week, we compare in basis points the average quarterly credit spreads between the 30‐year mortgage rate (as surveyed by Freddie Mac) and the 10‐year Treasury yield to production revenues (fee income, secondary marketing income and warehouse spread).
People in the News Mar. 30, 2021
Auction.com, Irvine, Calif., promoted Ali Haralson to president, a new position in the company that will oversee both sales and operations.
Quote
“More than 17 percent of borrowers in forbearance extensions have now exceeded the 12-month mark. Many homeowners need this support, even as there are increasing signs that the pace of economic activity is picking up as the vaccine rollout continues.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.
Kosta Ligris: Fintech Partnerships Can Empower Community Banks, Credit Unions to Thrive
Community banks need to focus on partnerships with fintechs to deliver exceptional experiences and solve some of their most fragmented challenges. Fragmentation is expensive and riddled with risk and inefficiencies—and the lending and banking industries are full of fragmentation.