Registration for the Mortgage Bankers Association’s Annual Convention & Expo, taking place Oct. 17-20 at the San Diego Convention Center, is officially open. Join MBA in San Diego as Academy Award- and Presidential Medal of Freedom Award-winning actress Rita Moreno keynotes the mPower Luncheon on Tuesday, Oct. 19.
Category: News and Trends
Dealmaker: Berkadia Closes $146M in Multifamily Transactions
Berkadia recently closed $146.2 million in multifamily transactions in Virginia.
June Commercial, Multifamily Mortgage Delinquencies Hold Steady
Delinquency rates for mortgages backed by commercial and multifamily properties held steady in June, the Mortgage Bankers Association’s latest monthly CREF Loan Performance Survey said.
MBA Asks FHFA for Clarity on GSE Short-Term Rental Policies
The Mortgage Bankers Association, in a July 6 letter to the Federal Housing Finance Agency, asked FHFA for more definitive guidance on the government-sponsored enterprises’ policies on mortgages for properties that include short-term rental units.
Potential Record-Breaking Year for REIT M&A Activity
JLL, Chicago, reported real estate investment trust merger and acquisition activity is rebounding.
MBA: Homeowners in Forbearance Plans Fall to under 2 Million
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed loans now in forbearance decreased by 4 basis points to 3.87% of servicers’ portfolio volume as of June 27 from 3.91% the prior week. MBA estimates 1.9 million homeowners are in forbearance plans–the first time that two million or fewer homeowners have been in forbearance plans since March 2020, at the onset of coronavirus pandemic.
Torrid Demand, Scarce Inventory Fuels Double-Digit Home Price Growth
Our story so far: high demand for housing, coupled with near record-low inventories, results in double-digit annual home price growth. CoreLogic, Irvine, Calif., is the latest to confirm the trend.
MBA Advocacy Update July 6 2021
The CFPB released its final rule amending select requirements of Regulation X to assist borrowers impacted by COVID-19. Also last week, MBA President and CEO Bob Broeksmit, CMB, sent a letter to the leaders of the National Governors Association and CSBS to ask for their assistance in addressing the challenges MBA member companies face as they attempt to reopen their offices.
Quote
“For the first time since last March, the share of Fannie Mae and Freddie Mac loans in forbearance dropped below 2 percent. The share in every investor type and almost every loan category dropped as well, bringing the number of homeowners in forbearance below 2 million. The rate of forbearance exits and new forbearance requests remained at low levels, but we expect the pace of exits to increase with reporting next week for the beginning of July.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.
MBA CONVERGENCE Partner Profile: Laird Nossuli, iEmergent
Laird Nossuli is CEO of iEmergent, Urbandale, Iowa, an analytics and advisory firm that helps lenders leverage data and diversity to develop sustainable lending strategies. Her educational background in community development and her passion for housing equity fuel her participation as a Steering Committee member in CONVERGENCE Columbus and led to iEmergent’s role as a national partner.