The Mortgage Bankers Association weighed in to oppose a proposed New York tax and recording requirement for mezzanine debt and preferred equity and to support like-kind exchanges.
Category: News and Trends
Troy Baars: Market Volatility Drives the Need for Speed in GNMA Spec Pool Formation
While there is a tremendous benefit to adding Ginnie Mae specified (spec) pools as part of a diversified execution strategy, lenders cannot continue to operate as if it’s business as usual when faced with the current volatility in the mortgage-backed securities market. Instead, speed must become of the essence, and lenders need to move as quickly as possible while monitoring the MBS market closely to continue effectively utilizing this strategy and maximize their secondary profitability.
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.
Michael Barone and Scott Weintraub: The New 1003 and Mortgage March Madness
Unlike the NCAA basketball tournament, March Madness in the mortgage industry began very early in March and will last beyond the NCAA Championship game on April 5. By adjusting their application best practices and keeping a keen eye out for upsets for the next few months, lenders can stop upsets before they happen and avoid a busted bracket.
(Switching Gears) William Tessar: Investor Loans–Where the Smart Originator Will Be When Rates Go Up
With the benchmark 30-year fixed rate beginning to creep higher, however, we may start to face a new reality. That’s why smart originators are already thinking about how to generate business when the refi dust settles. And many are setting their sights on the real estate investor channel, because the opportunities for business growth are incredible.
Housing Market Roundup
Among the many housing reports that came across our desk this week: Genworth Mortgage Insurance said 2020 was the “best year on record” for first-time home buyers; Radian said February home prices accelerated; Black Knight reported mortgage delinquencies rose for the first time in nine months; and Redfin said the home-buying process is becoming a headache for many consumers.
CFPB Annual Report: More Than a Half-Million Complaints Received in 2020
The Consumer Financial Protection Bureau said it handled 542,300 consumer complaints in 2020—a nearly 54% increase from 352,400 complaints handled in 2019. But mortgage complaints represented just 5 percent of the total.
Dealmaker: Institutional Property Advisors Completes $152M in Apartment Asset Sales
Institutional Property Advisors, Calabasas, Calif., brokered $151.8 million in Phoenix-area multifamily asset sales.
Top 5 Things You Should Know About Being iLAD Ready
Is your organization using the MISMO Industry Loan Application Dataset (iLAD) outside the Fannie Mae and Freddie Mac automated underwriting systems? Here are 5 key reasons why iLAD needs to be part of your data exchange roadmap.
MBA Letters Oppose Proposed N.Y. Mezzanine Debt/Preferred Equity Tax, Support Like-Kind Exchanges
The Mortgage Bankers Association weighed in to oppose a proposed New York tax and recording requirement for mezzanine debt and preferred equity and to support like-kind exchanges.