TIAA, New York, named Thasunda Brown Duckett to succeed Roger W. Ferguson Jr. as President and CEO.
Category: News and Trends
Mortgage Credit Availability Unchanged in February
Mortgage credit availability remained unchanged in February and held near its lowest level in six years, the Mortgage Bankers Association reported this morning.
Improving Economy Could Greatly Benefit the CRE Sector
Commercial real estate operating fundamentals are still “wallowing” for several property types, but improving economic conditions could greatly benefit the sector, said Wells Fargo Securities, Charlotte, N.C.
Dealmaker: Largo Capital Secures $40M for Industrial, Multifamily
Largo Capital, Buffalo, N.Y., arranged $39.6 million for industrial and multifamily assets in Florida, Delaware and Ontario.
2020 Mortgage Delinquencies See Record Highs—and Record Lows
CoreLogic, Irvine, Calif., said its year-end Loan Performance Insights Report showed overall mortgage delinquency rates fell for the fourth straight month in December, ending a volatile year with signs of recovery.
Matt Hydrew: Incubate, not Originate!
Incubate, not originate is about making the most out of each lead, not just adding more leads into the funnel. Incubation takes time. It starts with making sure borrowers are credit-ready and remain credit-ready until they reach the closing table. It starts at the top of the funnel and it keeps borrowers in your pipeline.
MBA: Share of Mortgage Loans in Forbearance Decreases to 5.20%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 3 basis points to 5.20% of servicers’ portfolio volume as of February 28 from 5.23% the previous week. MBA estimates 2.6 million homeowners are in forbearance plans.
Industry Briefs Mar. 9, 2021
Ginnie Mae, Washington, D.C., said mortgage-backed securities issuance volume fell in February to $76.92 billion, down from the record $82.6 billion issued in January.
Quote
“Of those homeowners in forbearance, more than 12 percent were current at the end of February, down somewhat from the almost 14 percent at the end of January. The improving economy, the soon-to-be passed stimulus package and the many homeowners in forbearance reaching the 12-month mark of their plan could all influence the overall forbearance share in the coming months.”
–MBA Chief Economist Mike Fratantoni.
(Switching Gears) Michael Franco: The Times, They Are A-Changin’—So You Should, Too
If the past year has taught us anything, it’s that Bob Dylan was right—the times they are a-changin’. From the pandemic to the overnight shift to remote work to the rollercoaster ride of the market, no one could have anticipated just how different 2020 turned out versus expectations. But there’s even more change in store in 2021, and businesses will have no choice but to adapt.