Lenders and servicers alike must focus on streamlining processes through automated technology and data-enabled solutions to sustain a more profitable business model and manage the shifts and demands of the marketplace.
Category: News and Trends
MBA DEI Leadership Awards: Nomination Deadline Aug. 13
Inspire change; share success. The Mortgage Bankers Association recognizes residential and commercial/multifamily members who show leadership in the areas of Diversity, Equity and Inclusion (DEI) internally through market outreach efforts with its annual DEI Leadership Awards.
MBA Weekly Applications Survey July 4, 2021: Apps Rebound Strongly
Mortgage applications bounced back last week after two straight weeks of steady decline as interest rates fell sharply, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending July 9.
Tech Hubs Poised For Growth After Holding Steady Through Pandemic
Technology employment weathered the pandemic better than most professions; now established tech capitals such as San Francisco and Seattle and emerging tech hubs including Dayton and Colorado Springs are poised for growth, said CBRE, Dallas.
Turning the Corner? Mortgage Delinquencies See 1st Annual Decrease in More than a Year
CoreLogic, Irvine, Calif., said all stages of mortgage delinquency except for the serious delinquency rate improved on an annual basis for the first time since March 2020.
Consumer Prices Continue to Heat Up
Consumer prices, already fueled by a heated economy continued to accelerate in June to its fastest monthly rate in 13 years, the Labor Department reported Tuesday.
Dealmaker: Kennedy Wilson Acquires Albuquerque Apartment Community for $65M
Kennedy Wilson, Beverly Hills, Calif., acquired 344-unit apartment community Sombra del Oso in Albuquerque, N.M. for $65 million.
Quote
“The sharp rebound in the economy, as well as a potent combination of government fiscal and regulatory help, is fueling unprecedented demand for residential housing and enabling people to buy and stay in their homes. The drop in delinquency rates is a further manifestation of the benefits of these tail winds.”
–Frank Martell, president and CEO of CoreLogic.
Share of Mortgage Loans in Forbearance Decreases to 3.76%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 11 basis points to 3.76% of servicers’ portfolio volume as of July 4 from 3.87% the week before,–the 19th consecutive weekly decline. MBA estimates 1.9 million homeowners are in forbearance plans.
Industry Briefs July 14, 2021
FormFree, Athens, Ga., partnered with ICE Mortgage Technology, part of Intercontinental Exchange Inc., a provider of data, technology and market infrastructure, to make its AccountChek 3n1 asset, income and employment verification service available in the Encompass cloud-based loan origination platform