Last week, Treasury Department Secretary Janet Yellen and Federal Reserve Chair Jerome Powell appeared before Congress to give their quarterly CARES Act update. On Tuesday, HUD announced FHA’s temporary allowance of endorsement of loans in forbearance will not be renewed and will expire on March 31.
Category: News and Trends
MBA Chart of the Week Mar. 26, 2021: IMB Production Revenues
In this Chart of the Week, we compare in basis points the average quarterly credit spreads between the 30‐year mortgage rate (as surveyed by Freddie Mac) and the 10‐year Treasury yield to production revenues (fee income, secondary marketing income and warehouse spread).
People in the News Mar. 30, 2021
Auction.com, Irvine, Calif., promoted Ali Haralson to president, a new position in the company that will oversee both sales and operations.
Quote
“More than 17 percent of borrowers in forbearance extensions have now exceeded the 12-month mark. Many homeowners need this support, even as there are increasing signs that the pace of economic activity is picking up as the vaccine rollout continues.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.
Kosta Ligris: Fintech Partnerships Can Empower Community Banks, Credit Unions to Thrive
Community banks need to focus on partnerships with fintechs to deliver exceptional experiences and solve some of their most fragmented challenges. Fragmentation is expensive and riddled with risk and inefficiencies—and the lending and banking industries are full of fragmentation.
MBA Advocacy Update Mar. 29, 2021
Last week, Treasury Department Secretary Janet Yellen and Federal Reserve Chair Jerome Powell appeared before Congress to give their quarterly CARES Act update. On Tuesday, HUD announced FHA’s temporary allowance of endorsement of loans in forbearance will not be renewed and will expire on March 31.
Pandemic a ‘Boon’ for Home Improvement
While the U.S; economy shrank by 3.5 percent in 2020, spending on home improvements and repairs grew more than 3 percent, to nearly $420 billion, as households modified living spaces for work, school and leisure in response to the COVID-19 pandemic, according to Improving America’s Housing 2021, a new report by the Harvard Joint Center for Housing Studies.
MBA Chart of the Week Mar. 26, 2021: IMB Production Revenues
In this Chart of the Week, we compare in basis points the average quarterly credit spreads between the 30‐year mortgage rate (as surveyed by Freddie Mac) and the 10‐year Treasury yield to production revenues (fee income, secondary marketing income and warehouse spread).
A ‘Resilient’ Net-Lease Retail Sector
As pandemic-related economic uncertainty loomed last year, investors looked to single-tenant net-leased properties for financial security and less volatility, said Colliers International, Toronto.
Dealmaker: Cushman & Wakefield Arranges $101M Multifamily Property Sale
Cushman & Wakefield, Chicago, arranged the $101.25 million sale of a five-property portfolio totaling 1,011 apartment units in Orlando and Tampa, Fla.