The MBA virtual Accounting & Financial Management Conference 2020 is ready to go, taking place online this Wednesday, Dec. 9 and Thursday, Dec. 10. The conference brings together leading authorities in real estate finance to share critical business intelligence, insights and best practices on evolving accounting, regulatory and financial management issues.
Category: News and Trends
MBA Chart of the Week: IMB Production Profit and Volume
MBA released its latest Quarterly Performance Report for the third quarter last week. Independent mortgage banks and mortgage subsidiaries of chartered banks reported study-high average pre-tax production profits of 203 basis points ($5,535 on each loan originated) in the third quarter, up from 167 basis points ($4,548 per loan) in the second quarter.
Job Growth Slows Heading into Uncertain Winter
Total nonfarm payroll employment growth slowed to 245,000 in November, the Bureau of Labor Statistics reported Friday, with nearly 10 million fewer jobs currently compared to a year ago.
REIT Outlook Negative, But Improving
The 2021 rating outlook for U.S. real estate investment trusts remains negative, but Fitch Ratings, New York, said its outlook for the sector is improving.
Dealmaker: Meridian Capital Group Arranges $78M for Multifamily, Office
Meridian Capital Group, New York, arranged $77.5 million to construct a New York multifamily property and refinance a Norwalk, Conn. office property.
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.
Participate in MBA/STRATMOR 2021 Peer Group Roundtables
Is your company flying blind with incomplete or incomparable data to support key business decisions? Consider joining an elite group of 100+ lenders this spring that participate in the MBA and STRATMOR Peer Group Roundtables (PGR).
Quote
“The pace of employment growth slowed in November, partially due to a loss of government jobs tied to the 2020 U.S. Census count, but also reflecting a slowdown in private sector job growth. A notable bright spot was the gain in construction jobs in the residential sector, another sign that the strong housing market continues to lead the overall economy.”
–MBA Chief Economist Mike Fratantoni.
Bruno Pasceri: The Transformation Ahead
MBA NewsLink interviewed Bruno Pasceri, President of Incenter LLC and a mortgage industry leader for more than 30 years, about the mortgage banking market and how to navigate future changes.
MBA: 3Q Mortgage Production Volume Spurs Strong IMB Profits
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $5,535 on each loan they originated in the third quarter, up from $4,548 per loan in the second quarter, the Mortgage Bankers Association reported this morning in its Quarterly Mortgage Bankers Performance Report.