Soaring home prices and scarce housing inventories sent home sales into record territory again in February, reported RE/MAX, Denver.
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.
A Conversation with MBA Affordable Housing Advisory Council Co-Chairs
The Mortgage Bankers Association recently created two Affordable Advisory Councils, dedicated to supporting CONVERGENCE, the MBA Affordable Housing Initiative. These Councils are currently led by four senior executives: Christine Chandler (M&T Realty Capital Corp.), Tony Love (Bellwether Affordable Housing Group), Anthony Weekly (Truist Bank) and David Battany (Guild Mortgage).
MBA Weekly Applications Survey Mar. 24, 2021: Rising Rates Stall Refis
Steadily rising mortgage interest rates reached a nine-month high last week, putting the buzzkill on refinance activity, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending March 19.
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“Like-kind exchanges of real estate under Section 1031 of the tax code support job growth and investment, the health of U.S. commercial real estate and real estate markets and the preservation of family-owned farms, ranches and forestland.”
–From an MBA letter to House and Senate Committees and the Treasury Department in support of Section 1031 like-kind exchanges.
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: IMB Production Profits Remain Strong in Fourth Quarter
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $3,738 on each loan they originated in the fourth quarter down from a reported gain of $5,535 per loan in the third quarter, according to the Mortgage Bankers Association’s latest Quarterly Mortgage Bankers Performance Report.
Multifamily Market Musings: Q&A with MBA’s Sharon Walker
MBA NewsLink interviewed MBA Associate Vice President of Commercial/Multifamily Sharon Walker, who represents MBA members active in multifamily finance. She advocates on policy issues primarily related to Fannie Mae, Freddie Mac and the Federal Housing Administration and oversees numerous related committees, working groups, councils and events.
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.