MISMO®, the mortgage industry standards organization, announced a call for participants for a new workgroup focused on a standards solution for commercial real estate.
Category: News and Trends
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 this morning in its Weekly Mortgage Applications Survey for the week ending November 13.
Builder Confidence Sets 3rd Straight Record
For home builders, the bright spots are only getting brighter. The National Association of Home Builders said its monthly index builder confidence set its third straight record in November.
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.
Single-Family Rents Bounce Back
CoreLogic, Irvine, Calif., said single-family rent growth gained strength in September but remain below pre-pandemic rates.
State Regulators Advise Licensees to Renew by Nov. 30
State regulators encourage individuals and businesses that provide mortgage, money transmission, debt collection and consumer financial services to renew their licenses in Nationwide Multistate Licensing System by November 30 to avoid processing delays.
‘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.
Quote
“The purchase market recovered from its recent weekly slump, with activity increasing 3 percent and climbing above year-ago levels for the 26th straight week. Housing demand remains supported by the ongoing recovery in the job market, and an increased appetite from households seeking more space because of the pandemic.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
MBA: Share of Mortgage Loans in Forbearance Falls to 5.47%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased for the 11th week in a row, to 5.47% of servicers’ portfolio volume as of Nov. 8 from 5.67% the prior week – a 20-basis-point improvement. MBA now estimates 2.7 million homeowners are in forbearance plans.
Scott Roller: Mortgage Vendor News & Views (November)
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.