Zaid Shariff is vice president – head of solution design and product implementation for SLK Global Solutions, a provider of digital platforms and business process management solutions to the banking, mortgage and financial services industries.
Category: News and Trends
People in the News June 4, 2021
The Mortgage Bankers Association nominated Mark Jones, CEO and Co-Founder of Amerifirst Home Mortgage, Kalamazoo, Mich. to serve as its Vice Chairman for the 2022 membership year.
Despite Quarterly Decline, IMB Production Profits Post Record 1st Quarter
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $3,361 on each loan they originated in the first quarter, down from $3,738 per loan in the fourth quarter but still the highest first-quarter net gain in the history of the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.
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“Despite dropping slightly from the fourth quarter of 2020, net production profits reached their highest level for any first quarter since the inception of MBA’s report in 2008. Triple-digit basis-point profitability was seen for the fourth consecutive quarter – another record that surpasses the 2012 boom generated from Home Affordable Refinance Program.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.
High-End Home Sales Twice as Fast as Mid-Range Homes
High-end home purchases U.S. jumped by 26% year over year during the three months ending April 30, compared to a 17.8% gain in purchases of affordable homes and a 14.8% increase in purchases of mid-priced homes, reported Redfin, Seattle.
ADP: Private Sector Adds 742,000 April Jobs
Ahead of this morning’s initial claims report and Friday’s employment report, ADP, Roseland, N.J., said private-sector employment increased by 742,000 jobs from March to April.
Dealmaker: Lument Closes $26M in Fannie Mae Loans
Lument, New York, recently closed $25.7 million in Fannie Mae loans on multifamily assets in Florida and Ohio.
MBA, Trade Groups File Amicus Brief in Fair Debt Collections Court Case
The Mortgage Bankers Association and six other industry trade groups filed an amicus brief this week in a court case that could have profound consequences on mortgage debt collection processes.
Murali Tirupati: Reducing Loan Defect Risks with Mortgage Document Automation
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.
Fitch: Urban Multifamily Recovery ‘Years Away’ Despite Recent Demand Growth
Urban multifamily rental demand is improving as pandemic restrictions are lifted and workers return to offices, but a full recovery could take longer than prior recoveries, reported Fitch Ratings, New York.