This major trend continues – banks and lenders sticking to their core competencies and seeking strategic vendor partners for the non-core – via technology and outsourcing. The low rate ‘feeding frenzy’ will come to an abrupt end, we just don’t know when. Still yet, we are starting to see financial institutions give more focus to the bottom line – cost cutting. Engaging third-party vendors is often a first consideration, reducing fixed costs.
Category: News and Trends
FHFA Sets $70 Billion 2021 GSE Multifamily Loan Purchase Caps
The Federal Housing Finance Agency on Tuesday announced 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac at $70 billion for each Enterprise, totaling $140 billion in support to the multifamily market.
Quote
“October is usually when home buying activity slows as the weather turns colder. However, this fall has been a different story, with delayed activity from the spring, and more households seeking larger homes with more indoor and outdoor space, driving demand.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
Mortgage Applications Dip in MBA Weekly Survey
Mortgage applications fell slightly even as key interest rates remained below 3 percent, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending November 13.
MBA: Upward Revisions to 2020, 2021 Mortgage Forecasts
The most volatile and unpredictable economy in a decade has produced the strongest housing market in more than a decade—and, according to the Mortgage Bankers Association, it could get even stronger.
MISMO Launches CRE Property Financials Workgroup; Issues Call for Participants
MISMO®, the mortgage industry standards organization, announced a call for participants for a new workgroup focused on a standards solution for commercial real estate.
‘Collaboration and Trust:’ Seth Appleton on the Future of MISMO
Seth Appleton joins MISMO in December as its new President, responsible for the mortgage industry standard organization’s overall strategy and direction. He recently sat down (virtually, of course) with MBA NewsLink to discuss the future of mortgage technology/digital transformation and his vision for MISMO.
MAA Post-Election Update Today
The MBA Mortgage Action Alliance Post-Election Update, taking place Thursday, Nov. 19 from 2:00-3:00 p.m. ET, provides MAA members (and prospective MAA members) with a briefing on election results to date and the anticipated impacts on the industry.
Dealmaker: Newmark Completes $46M in Retail, Office Property Sales
Newmark, New York, closed retail and office property sales totaling $45.6 million in New Jersey and California.
FHFA Sets $70 Billion 2021 GSE Multifamily Loan Purchase Caps
The Federal Housing Finance Agency yesterday announced 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac at $70 billion for each Enterprise, totaling $140 billion in support to the multifamily market.