During COVID, you must ensure you are communicating clearly about your business and any changes that may be taking place in terms of how you are operating and the resulting impacts on applicants and borrowers.
Category: News and Trends
Concessions Rise as Rental Market Softens
Rental concessions are now nearly twice as common as in February as apartment owners strive to attract new tenants in a softened market, said Zillow, Seattle.
MBA: Strong Borrower Demand, Low Rates Fuel 2Q IMB Production Profits
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $4,548 on each loan they originated in the second quarter, up from $1,600 per loan in the first quarter, according to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.
Mortgage Applications Down for 3rd Straight Week in MBA Weekly Survey
Mortgage applications fell for the third straight week even as interest rates dipped again, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending August 28.
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“Mortgage servicing right markdowns and amortization continued, and there was a loss of servicing income from elevated default activity. Despite these servicing losses, 96 percent of firms in the report posted overall profitability for the second quarter.”
— Marina Walsh, MBA Vice President of Industry Analysis.
MBA: Pandemic Takes Aim at Commercial, Multifamily Mortgage Delinquency Rates
The coronavirus pandemic had a “dramatic and immediate impact” on delinquency rates for some mortgages backed by commercial and multifamily properties in the second quarter, although most continued to perform well, the Mortgage Bankers Association said in two reports.
MBA Offers Recommendations to FHFA on New GSE Capital Framework
The Mortgage Bankers Association asked the Federal Housing Finance Agency to restructure the capital framework for Fannie Mae and Freddie Mac, moving from past business models to a market utility approach that enables them to meet all of their obligations.
MBA Education Path to Diversity Scholar Profile: Ashley Duffy
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
A Conversation with Scott Gesell, CEO of Gateway First Bank
Scott Gesell was recently appointed as CEO of Gateway First Bank, Tulsa, Okla. He has been an integral part of Gateway First Bank’s leadership since 2013. During his time at Gateway, he played a leading role in the merger of a 100-year-old community bank with a 20-year-old mortgage company to become Gateway First Bank.
Sponsored Content from Pavaso: Data Privacy and Working with eClosing Service Providers
Overlooking this factor when choosing an eClosing technology service provider could cost you.