The Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, is holding elections for three at-large seats on its 2021-2022 MAA Steering Committee. The active voting period will be open until Wednesday, Dec. 9 at 5:00 p.m. ET.
Category: News and Trends
Dave Parker: Rebounding Non-QM Market Requires Quality Review to Mitigate Risk
The non-QM market is making a recovery and, with continued demand from borrowers, changes to the current QM lending rule and the approaching expiration of the QM patch, is likely to stay on the rebound. As a new range of products come to the market, the question now becomes, how can the mortgage industry ramp up and ensure loan quality for lenders, servicers, and investors?
Hotel Sector Recovery Slows
The hotel sector recovery has slowed in recent months after rebounding in the fall from April lows, said Fitch Ratings, New York.
Dealmaker: JLL Arranges $150M Fairmont San Francisco Refinancing
JLL, Chicago, arranged a $150 million refinancing for the 606-key Fairmont San Francisco for borrower Mirae Asset Global Investments, Seoul, South Korea.
mPact 2020 Campaign Benefiting MBA Opens Doors Foundation
Participate in a virtual mPact event in December to benefit the MBA Opens Doors Foundation and help us keep families with critically ill or injured children in their homes. Join us and make a difference for a family in need.
Jobless Claims Drop, Remain Elevated
Initial claims fell in the week ending Nov. 28, the Labor Department reported yesterday, but remain elevated in the wake of the coronavirus pandemic and resulting economic slowdown.
Industry Briefs Dec. 4, 2020
ReverseVision, San Diego, updated all documents that reference an index to support both the Constant Maturity Treasury (CMT) and London Interbank Offer Rate (LIBOR) indexes.
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.
Quote
“The U.S. housing supply has been underbuilt for over a decade and it will take years of accelerated new home construction to close the gap.”
–Mark Fleming, Chief Economist with First American Financial Corp., Santa Ana, Calif.
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.