Better disclosures would allow rating agencies to better assess commercial real estate credit risk in bank loan portfolios, said DBRS Morningstar, Toronto.
Category: News and Trends
October New Home Purchase Mortgage Applications Post Strong Monthly, Yearly Gains
The Mortgage Bankers Association reported October mortgage applications for new home purchases increased by 5 percent from September and by nearly 33 percent from a year ago.
Dealmaker: Dwight Capital Finances $130M for Multifamily
Dwight Capital, New York, financed $129.7 million for multifamily properties in three states.
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.
Industry Briefs Nov. 17, 2020
The Federal Housing Finance Agency released its annual Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2020.
‘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.
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.
MBA Education Webinar: Mortgage Market Developments and Becoming a Public Company Dec. 14
MBA Education presents Mortgage Market Developments and Becoming a Public Company, a webinar on Monday, Dec. 14 from 2:00-3:00 p.m. ET.
MBA Advocacy Update Nov. 17, 2020
On Friday HUD released its annual report detailing the financial condition of the FHA Mutual Mortgage Insurance Fund. On Tuesday and Thursday, federal prudential regulators from the Federal Reserve, FDIC, OCC and NCUA appeared before the Senate Banking Committee and the House Financial Services Committee to discuss the economic impact of the COVID-19 pandemic.
Quote
“Declines in the share of loans in forbearance continued this week, with a significant increase in the rate of forbearance exits – particularly for portfolio and PLS loans. More than 76 percent of borrowers in forbearance are now in an extension, as we are well past the six-month point for most borrowers’ forbearance plans.”
–Mike Fratantoni, MBA Senior Vice President and Chief Economist.