“Although the headline employment growth number for May was lower than many had anticipated, other data show evidence of a strengthening job market. That is good news for homeowners who have been struggling and are looking for work, as more families can regain their incomes and start making their mortgage payments again.”
–MBA Chief Economist Mike Fratantoni.
MBA Research recently wrapped up its annual Servicing Operations Study, a deep dive analysis of servicing costs, productivity, portfolio activity and operational metrics for in-house servicers. In this week’s chart, we show 2020 direct servicing costs allocated by functional area.
As banking, mortgage and financial services look to remain innovatively different, the quest to “do something” that leverages their people, processes and partners is creating a dystopia during a period of profitability for many leaders unfamiliar with rapid innovations taking place across their markets and offerings.
In this article, we will analyze the bottlenecks due to a manual & paper intensive process that lead to loan defects. Based on this understanding, we will investigate the key business risks from such loan defects and how automation can play a role in mitigating these risks.
Last Friday, President Biden’s full fiscal year 2022 budget proposal was released, along with the Treasury Department’s “Green Book” itemizing the revenue implications of various tax proposals.
Black Knight, Jacksonville, Fla., said persistent constraints in for-sale inventory drove home prices up a record-breaking 14.8 percent in April, making housing the least affordable since 2018.
Total nonfarm payroll employment rose by 559,000 in May, the Bureau of Labor Statistics reported Friday—up substantially from May’s tepid numbers but still below consensus expectations, as hiring slowly recovers from the coronavirus pandemic.
SimpleNexus, Lehi, Utah, named Cathleen Schreiner Gates CEO and announced Founder Matt Hansen will lead a task force of software developers and sales staff that specializes in high-priority projects.
Trepp LLC, New York, reported the commercial mortgage-backed securities delinquency rate declined again in May, posting its biggest drop in three months.
This week, it’s business as usual—at least as “usual” things can be in the pandemic era. Congress is in town, and the Mortgage Bankers Association is busy.
