MISMO®, the mortgage industry standards organization, issued a call for industry experts to participate in a working group to enable the digitization of closing instructions.
Category: News and Trends
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“As more accounts come out of financial hardship status, lenders will be actively monitoring payment behaviors to gauge whether consumers can withstand these economic pressures and do so without government assistance or lender support. How consumers are able to manage debt levels and access to credit will be a key indication of economic recovery in the coming months.”
-Matt Komos, vice president of research and consulting with TransUnion, Chicago.
Industry Briefs Aug. 20, 2020
Freedom Mortgage Corp., Mount Laurel, N.J., and RoundPoint Mortgage Servicing Corp., Charlotte, N.C. completed their previously announced merger. RoundPoint is now a wholly owned subsidiary of Freedom Mortgage, a full-service mortgage company and provider of VA and government-insured lending.
Mortgage Applications Drop in Latest MBA Weekly Survey
Mortgage interest rates jumped back over 3 percent last week, resulting in a decrease in mortgage refinance applications, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending August 14.
Andrew Foster: CMBS Market Musings
Taken together, the analysis from industry thought leaders indicates that CMBS will continue to have challenges with existing loans through 2021 as new issuance remains robust for agency MBS and at a tepid pace for conduit transactions. Challenges with maturing loans are starting as well; however, 2022 will bring a major wave of those loans.
Leah Sommerville and Chris Lewis: RON–The Last Mile in the eClosing Marathon
As consumers make efforts to significantly limit in-person interaction, the demand for remote online notarization eClosings, which allow borrowers to join real estate closings from the comfort of and, more importantly, safety of their homes, has increased exponentially. This begs the question: Why isn’t everyone closing every loan with RON?
Sponsored Content from Nomis Solutions: What Are Mortgage Shoppers Looking for in 2020 and Beyond?
For our 2020 Consumer Lending Survey eBook, we dive deep into the minds of consumers in the market for a loan in this socially distanced COVID-19 environment.
CFPB Proposes New Category of Qualified Mortgages
The Consumer Financial Protection Bureau yesterday issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages, called “Seasoned QMs,” to “encourage innovation and help ensure access to responsible, affordable in the mortgage credit market.”
Personnel News from CBRE, Walker & Dunlop, Marcus & Millichap
CBRE, Los Angeles, announced Bill Grice joined CBRE Hotels as Executive Vice President and Co-Head of Hospitality Capital Markets. Based in the firm’s Atlanta office, he will focus on the origination and placement of debt and equity for hospitality-related transactions.
Dealmaker: Axiom Capital Corp. Arranges $43M for Industrial Assets
Axiom Capital Corp., Montclair, N.J., arranged $43 million to refinance industrial properties in Summerville, S.C. and Saddle Brook, N.J.