On Monday, HUD finalized updated forms in the FHA Single-Family Condo approval process. On Tuesday, the Senate Banking, Housing, and Urban Affairs Committee held the first of what is expected to be a series of oversight hearings on housing policy this year. And on Thursday, MBA submitted feedback to FHA in response to ML 2021-05, which extends the foreclosure and eviction moratorium and expands the use of FHA’s COVID-19 Loss Mitigation options.
Category: News and Trends
Quote
“MBA is concerned that limits on certain features of the Enterprises’ businesses, as well as the manner in which these limits are implemented, could cause unnecessary disruptions in the housing finance system.”
–MBA President & CEO Robert Broeksmit, CMB, in a Mar. 22 letter to Treasury Secretary Janet Yellen and FHFA Director Mark Calabria.
(Switching Gears) William Tessar: Investor Loans–Where the Smart Originator Will Be When Rates Go Up
With the benchmark 30-year fixed rate beginning to creep higher, however, we may start to face a new reality. That’s why smart originators are already thinking about how to generate business when the refi dust settles. And many are setting their sights on the real estate investor channel, because the opportunities for business growth are incredible.
MBA Chart of the Week: Percent of Originations by Median Income, Race/Ethnicity
We analyzed the 2019 Home Mortgage Disclosure Act data for the 30 largest metropolitan statistical areas to understand the distributions of first lien mortgage purchase originations by Area Median Income and by race/ethnicity.
Multifamily Market Musings: Q&A with MBA’s Sharon Walker
MBA NewsLink interviewed MBA Associate Vice President of Commercial/Multifamily Sharon Walker, who represents MBA members active in multifamily finance. She advocates on policy issues primarily related to Fannie Mae, Freddie Mac and the Federal Housing Administration and oversees numerous related committees, working groups, councils and events.
Michael Barone and Scott Weintraub: The New 1003 and Mortgage March Madness
Unlike the NCAA basketball tournament, March Madness in the mortgage industry began very early in March and will last beyond the NCAA Championship game on April 5. By adjusting their application best practices and keeping a keen eye out for upsets for the next few months, lenders can stop upsets before they happen and avoid a busted bracket.
Alan Parris: Using Digital Marketing to Build Relationships with the Next Big Home Buyer Generation
Today’s customers live online and expect relevant, personalized content and messaging that resonates with their individual wants and needs. That leaves plenty of opportunity for lenders to connect with this massive cohort by providing value and education.
Lori Brewer: Lender Staffing Data Signals Need to Automate Back Office and Monitor Performance
Lenders hiring their way through spikes in volume, as they have for decades, is a suboptimal, efficiency-draining reaction — not a strategic business decision. Any time lenders hire to manage temporary spikes in volume they reduce profitability, add enterprise risk and pour valuable internal resources into a hiring-firing routine that can destabilize and discourage an entire organization long after volume has normalized.
KBRA: Review Those Remittance Reports
Kroll Bond Rating Agency, New York, said higher commercial mortgage-backed securities special servicing volume and modifications increase the risk of operational errors or inconsistencies in servicer and trustee reporting.
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