NorthMarq’s Chicago office arranged $103.5 million to refinance six multifamily assets in Iowa, Missouri and Indiana.
Category: News and Trends
MBA: Commercial/Multifamily Mortgage Delinquency Rates Continue to Vary by Property Types, Capital Sources
Commercial and multifamily mortgage performance remains mixed, revealing the various impacts the COVID-19 pandemic has had on different types of commercial real estate, according to two reports released today by the Mortgage Bankers Association.
The Redesigned URLA Is Coming Jan. 1. Are You Ready?
Fannie Mae and Freddie Mac (the GSEs) will ring in the New Year by starting to accept the redesigned Uniform Residential Loan Application (URLA) and updated automated underwriting system (AUS) loan application submission files based on MISMO v3.4.
RIHA Study: Widening Inequality After Great Recession Attributed to Decline in Homeownership, Home Values
Distribution of wealth among U.S. households became increasingly unequal from 2007 through 2016 as a decline in homeownership and home values impacted the wealth of middle-class families, according to a new research report, The Distribution of Wealth Since the Great Recession, released yesterday by the Mortgage Bankers Association’s Research Institute for Housing America.
Quote
“Inequality may have improved in recent years because of the increase in home prices, the rising homeownership rate, the stock market’s steady ascent and recent policy changes that have reduced tax burdens and made it easier to save for retirement. Unfortunately, the pandemic has likely offset these changes – and especially for lower-income individuals working in jobs adversely impacted in the last nine months.”
–John C. Weicher, author of a new Research Institute for Housing America report and Director for the Center for Housing and Financial Markets at the Hudson Institute.
Refis Up, Purchases Down in MBA Weekly Survey as Rates Hit New Low
With mortgage interest rates falling yet again to record lows, homeowners took advantage to refinance; purchase buyers, not so much, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending December 4.
Greg Holmes of Credit Plus on COVID Challenges
Greg Holmes is Managing Partner with Credit Plus Inc., Salisbury, Md., a third-party verifications company serving the mortgage industry.
MISMO Statement on FSOC Recommendation on Adoption/Use of Industry Data Standards
Seth Appleton, President of MISMO®, issued the following statement in support of the Financial Stability Oversight Council’s annual report recommendation (https://home.treasury.gov/system/files/261/FSOC2020AnnualReport.pdf) that the industry adopt and use industry data standards:
People in the News Dec. 10, 2020
The Mortgage Bankers Association announced Borden Hoskins joined the association as Associate Vice President of Legislative Affairs. He will be responsible for advocating MBA’s legislative and policy priorities on Capitol Hill, with a primary focus on Republican members of the House of Representatives.
Sponsored Content from ServiceLink: Loss Mitigation–How Partnering with the Right Solutions Provider Can Help
As the CARES Act has been welcome relief to borrowers, many servicers are finding their own relief in strategic partnerships.