December is always a busy month, and this is especially true for mortgage lenders this year. With 2021 rapidly approaching, the deadline to implement the redesigned URLA and updated automated underwriting system (AUS) datasets will be here before we know it.
Category: News and Trends
Chetan Patel of Verity Global Solutions on Managing Costs in a Transitioning Market
Chetan Patel is COO of Verity Global Solutions, San Antonio, Texas, a provider of highly crafted services spanning the mortgage loan lifecycle. He has more than 25 years of leadership experience in the mortgage industry and has been recognized as an IT All-Star by Mortgage Banking magazine.
MBA Chart of the Week: CMBS Annual Issuance Volume
One way to gauge potential commercial mortgage-backed securities issuance volume is by looking at the spreads investors are willing to pay for bonds. Based on current new-issue spreads, 2021 could line-up to be a strong year.
FHFA: GSEs Complete 539,000 3Q Foreclosure Prevention Actions
The Federal Housing Finance Agency released its third quarter 2020 Foreclosure Prevention and Refinance Report, showing Fannie Mae and Freddie Mac completed 539,451 foreclosure prevention actions in quarter, bringing to 5.2 million the number of troubled homeowners who have been helped during conservatorships.
MBA Hires Charmaine Brown As New Director of Diversity and Inclusion
The Mortgage Bankers Association hired mortgage industry veteran Charmaine Brown to fill its newly created position of Director of Diversity and Inclusion. Brown, who will start on Jan. 4, will be responsible for developing, promoting and advancing diversity and inclusion programs for the real estate finance industry.
MBA, Trade Groups Ask Federal Agencies for Clarity on CARES Act Forbearance
The Mortgage Bankers Association, the American Bankers Association and the Housing Policy Council on Thursday asked federal agencies to issue guidance establishing a consistent timeframe for CARES Act forbearance under their respective programs.
Industrial, Apartment Prices Rise as Retail Prices Fall
Real Capital Analytics, New York, reported commercial property prices grew in November at the fastest annual pace since the pandemic began.
Dealmaker: Dwight Capital Finances $131M for Multifamily
Dwight Capital, New York, financed $130.7 million for multifamily properties in three states.
Quote
“Charmaine has a proven track record of empathetic leadership and is passionate about ensuring there is open and honest communication among leadership and every level of an organization. I am excited for Charmaine to join our team to help us deliver on our commitment to develop and promote successful D&I programs that benefit MBA and our industry.”
–Lisa Haynes, MBA Senior Vice President, CFO and Chief Diversity and Inclusion Officer, on Charmaine Brown, who was appointed as MBA’s first Director of Diversity and Inclusion.
‘Not Ok? That’s Ok:’ Financial Services, Consumer Coalition Launches Borrower Awareness Campaign
The Mortgage Bankers Association and a broad coalition of financial services stakeholders – including mortgage servicers, trade associations, housing counseling agencies, governmental agencies and think tanks – recently launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage payments as a result of the COVID-19 pandemic and may be eligible for forbearance assistance under the CARES Act or other forms of mortgage payment relief.