According to the latest edition of MBA’s Weekly Forbearance and Call Volume Survey, released last week, the share of loans in forbearance dropped to 6.87 percent of servicers’ portfolio volume as of September 20. The share was the lowest point since mid-April, and 168 basis points below a peak of 8.55 percent during the week ending June 7.
Category: News and Trends
September Jobs Report Shows Continued Economic Churn
The final national jobs report before the November elections showed a slowing pace of job creation amid continued economic volatility, the Bureau of Labor Statistics said Friday.
Single-Tenant Net Lease Cap Rates Drop to New Lows
Cap rates in the single-tenant net lease retail, office and industrial sectors reached record lows in the third quarter, reported Boulder Group, Wilmette, Ill.
Dealmaker: IPA Brokers $155M in Multifamily Sales
Institutional Property Advisors, Ontario, Calif., brokered $155 million in multifamily property sales in Phoenix and Los Angeles.
Industry Briefs Oct. 5, 2020
OptifiNow, Seal Beach, Calif., a provider of CRM and marketing automation, announced a partnership with cloud-based presentation platform, Digideck, Minneapolis. The partnership enables users of OptifiNow to send personalized presentations to prospects and customers.
CFPB: TRID Rule Results ‘Mixed, But Leans Positive’
The Consumer Financial Protection Bureau released its assessment of the TRID Integrated Disclosure Rule, acknowledging the rule resulted in “sizeable implementation costs” for mortgage lenders and servicers but finding the rule ultimately benefited consumers.
The Week Ahead
Good morning and happy Monday! Welcome to October; or as 2020 would say, “hold my beer.”
Sponsored Content from ServiceLink: Keeping Up with Surging Demand Requires Smart Technology
With record-low interest rates and an ongoing rush of refinance demand, mortgage lenders are racing to process as much business as they can. How can their settlement service providers help?
Jessica Longman: Education is Key–Reduce Homeowner Frustration Regarding Property Taxes
Some of the most common questions that servicers receive from customers revolve around property taxes. An important aspect to providing an excellent experience for your customers includes educating them on the critical pieces they need to know about their loan; in turn this will reduce call volume relating to property tax questions and reduce overall homeowner frustration about taxes and payments.
mPower Event at MBA Annual20 with Capricia Marshall Oct. 20
mPower, MBA Promoting Opportunities for Women to Extend their Reach, hosts its always popular event at this year’s MBA Annual20, featuring Ambassador Capricia Marshall.