It’s easy to make Matt Hansen happy. “I just love writing code,” the Founder and CEO of SimpleNexus and MBA NewsLink 2021 Tech All-Star, said. “If I wasn’t writing code at work, which I did for 14 years, I was writing code at home. Even after a decade of it, I just couldn’t get enough of it.”
Category: News and Trends
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“Even with a few weeks of lower rates, most borrowers have likely already refinanced, which is why activity has decreased in seven of the last eight weeks.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
MBA: Share of Mortgage Loans in Forbearance Dips to 4.49%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed little movement from the previous week. MBA said loans now in forbearance decreased by 1 basis point to 4.49% of servicers’ portfolio volume as of Apr 18 from 4.50% the prior week.
MBA: Share of Mortgage Loans in Forbearance Dips to 4.49%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed little movement from the previous week. MBA said loans now in forbearance decreased by 1 basis point to 4.49% of servicers’ portfolio volume as of Apr 18 from 4.50% the prior week.
#MBASpring21: Administration Acknowledges Issues with GSE Product Caps
During the final months of the Trump Administration, the Federal Housing Finance Agency implemented product caps on Fannie Mae and Freddie Mac through their Senior Preferred Stock Purchase Agreements—a move that the Mortgage Bankers Association called “disruptive” for many of its members.
#MBASpring21: Tracking Cybersecurity Threats
Last year was a challenging one for many reasons. Beyond the global pandemic, there was record growth in cyber threats that affect mortgage companies, analysts said during MBA’s Spring Conference & Expo 21.
Dealmaker: IPA Closes $34M in Retail Property Sales
Institutional Property Advisors, Calabasas, Calif., closed two retail property sales totaling $34 million.
Industry Briefs Apr. 27, 2021
Fannie Mae, Washington, D.C., said full-year 2021 real GDP growth expectations improved to 6.8 percent, including 9.1 percent annualized growth in the second quarter, due primarily to the continued easing of virus-related social restrictions and stimulus-driven consumer spending.
MBA Seeks Nominations to Serve on COMBOG by April 30
The Mortgage Bankers Association’s Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) Nominating Committee seeks members’ recommendations for individuals to serve on the Board beginning this October in the Investor, Lender, Mortgage Banker and Servicer categories.
MBA Releases Templates for Servicer Communications with Existing ARM Borrowers in Preparation for LIBOR Expiration
The Mortgage Bankers Association this week released two templates for residential mortgage servicers’ communications with borrowers with existing London Interbank Offered Rate (LIBOR)-indexed adjustable-rate mortgages.