Between stay-at-home orders, historical levels of refinance activity and the big increase in forbearance requests, mortgage originators and servicers spent the past year continually creating and re-creating ways to get things done. Here’s some of the things we saw.
Category: News and Trends
Hassan Rashid: From Promise to Reality: Achieve Digital Transformation with Automation
The financial services industry as a whole continues to evolve at a rapid pace, driven by customer expectations, advancements in technology, and heightened competition from incumbents and new entrants. Lenders that seize this opportunity will not only survive, but ultimately thrive well into the future. In contrast, lenders content on simply surviving, taking more of a “wait-and-see” approach, may quickly become irrelevant.
Bob Mansur, CMB, AMP: Are Your LOs Behaving the Way You Expect?
The first article of this series addressed the use of behavioral activities as enabling goals. Their purpose: to help LOs who were struggling to reach the production goals to which you and they had agreed. This follow-up piece looks at management’s additional actions to consistently communicate about those observable activity goals.
Nick Volpe: A Brief History of Defects; Q3 2020’s Loan Quality Performance Sets Stage for Areas of Concern in 2021
Given the necessary delay that must precede the analysis of post-closing data, it is easy to forget the significance of these findings. However, mistakes made in the past often do not remain so, especially when those mistakes go unaddressed. Thus, lenders have a great deal to learn from their post-closing quality control analyses, even more so given the market disruptions and macroeconomic impact of COVID-19.
MBA Advocacy Update: Apr. 19, 2021
On Thursday, the House Financial Services Committee held hearings on the LIBOR transition and laying the groundwork for parts of President Biden’s $2 trillion infrastructure proposal. MBA also issued a MAA Call to Action last week in response to the implementation of the product caps placed on Fannie Mae and Freddie Mac by the Senior Preferred Stock Purchase Agreements.
MBA Seeks Nominations to Serve on COMBOG
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 Chart of the Week: New Home Sales, Single-Family Housing Starts
This week’s MBA Chart of the Week focuses on newly built homes, as measured by new home sales and single-family housing starts.
Dealmaker: Cushman & Wakefield Arranges $750M for Bay-Area Office Campus
Cushman & Wakefield, New York, arranged $750 million to refinance Burlingame Point, a Class A office, R&D and life sciences campus on the San Francisco peninsula.
March Housing Starts Post at Highest Rate in 15 Years
Housing starts recovered from a sluggish February to its highest rate since 2006 in March, HUD and the Census Bureau reported Friday.
Trepp: 4Q Bank CRE Loan Data Show ‘Elevated Distress’
The U.S. economy is well into its recovery from the pandemic recession, but Trepp LLC, New York, noted bank commercial real estate loans indicated “elevated distress” in the fourth quarter.