A new study by STRATMOR Group, Greenwood Village, Colo., found while mortgage lenders have been buying and installing technology at a rapid pace since the COVID-19 pandemic began, many aren’t actually using it to their full potential.
Category: News and Trends
MBA Letter to FHFA Offers Recommendations on Appraisal Policies
The Mortgage Bankers Association, in a Feb. 26 letter to the Federal Housing Finance Agency, offered a set of recommendations aimed at promoting and modernizing the appraisal process.
MBA Chart of the Week: 10-Year Treasuries and 30-Year Fixed Rates
This week’s chart shows the recent climb in rates, and the spread between the 30-year mortgage rate, as surveyed by Freddie Mac, and the 10-year Treasury yield. As the 10-year has risen, so has the 30-year fixed rate, which has gone up 24 basis points since the beginning of February.
MBA Advocacy Update Mar. 1 2021
On Friday the House began approving a $1.9 trillion “reconciliation” package based largely on President Joe Biden’s American Rescue Plan. Also on Friday, MBA submitted comments in response to the Federal Housing Finance Agency’s Request for Information on Appraisal-Related Policies, Practices and Processes.
MBA Announces Members of Affordable Housing Advisory Councils for 2021
The Mortgage Bankers Association announced members of its advisory councils for affordable rental housing and homeownership for 2021. The advisory councils were formed in 2019 to provide important strategic and practical guidance to MBA’s CONVERGENCE Initiative, the association’s affordable housing effort.
CRE Executives Cite Economic Cycle as Top Concern
Shuttered and restaurants and well-meant extension of tenant and borrower protections rank as real estate executives’ top concerns, reported law firm Seyfarth, Chicago.
Dealmaker: Alliant Credit Union Closes $66M for Multifamily
Alliant Credit Union, Chicago, closed $66.6 million in financing for multifamily properties in Alabama and Illinois.
The Week Ahead—Mar. 1, 2021
Another busy week is shaping up on Capitol Hill. President Joseph Biden Jr.’s nominee for Director of the Consumer Financial Protection Bureau, Rohit Chopra, appears (remotely) before the Senate Banking Committee this Tuesday, Mar. 2. Also appearing is Gary Gensler, Biden’s nominee for the Securities and Exchange Commission.
Redfin: New Listings Fall 17%, Home Prices Rise 15%
Redfin, Seattle, reported the median home sale price increased 15% year over year to $321,250 for the four-week period ending Feb 21.
Daren Blomquist of Auction.com on the Current State of the Distressed Marketplace
Daren Blomquist is vice president of market economics with Auction.com., Irvine, Calif. He analyzes and forecasts complex macro and microeconomic data trends within the marketplace and greater industry to provide value to both buyers and sellers using the Auction.com platform.