Capitol Hill is busy again this week. On Tuesday, Mar. 23, Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell visit (virtually) the House Financial Services Committee for a hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response.
Category: News and Trends
(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.
Industry Briefs Mar. 22, 2021
Fairway Independent Mortgage Corp., Madison, Wis., in the wake of recent actions by United Wholesale Mortgage to obtain exclusive partnerships with mortgage brokers, said it reaffirmed its commitment to all its mortgage origination partners, including mortgage brokers help consumers find options for financing a home.
Quote
“Right now, most originators have full bellies and aren’t looking for their next meal. Smart originators know what they’re going to eat next. And by serving investors, they’re not likely to go hungry.”
–William Tessar, President and CEO of Civic Financial Services, Redondo Beach, Calif.
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.
MBA RIHA Study: Affordability Growing Challenge for Low-, Moderate-Income Renters in Majority of Top 50 Metro Areas
Home prices and rent appreciation have exceeded income growth since the turn of the 21st century. This has created economic obstacles for many American households, especially for low- and moderate-income renters living in cities with recent employment growth but significant housing supply constraints, according to a new report from the MBA Research Institute for Housing America.
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.
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.
Industry Briefs Mar. 19, 2021
Fairway Independent Mortgage Corp., Madison, Wis., in the wake of recent actions by United Wholesale Mortgage to obtain exclusive partnerships with mortgage brokers, said it reaffirmed its commitment to all its mortgage origination partners, including mortgage brokers help consumers find options for financing a home.