“The housing market remains a bright spot in the current economic recovery and these results, combined with July data on housing starts and homebuilder optimism, suggest that housing supply could be increasing to better meet the strong demand for buying a home.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
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?
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 23 basis points to 7.21% of servicers’ portfolio volume the week of Aug. 9 from 7.44% the previous week. MBA estimates 3.6 million homeowners are in forbearance plans.
The Mortgage Bankers Association’s released its Second Quarter National Delinquency Survey, showing the delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 8.22 percent of all loans outstanding.
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.
MBA NewsLink interviewed Jeffrey O’Neale, a partner in Mayer Brown’s Charlotte office and a member of the Real Estate Markets practice. A primary focus of his practice is representing special servicers in loan workouts, restructurings and modifications and repurchase facility buyers in the servicing and administration of their commercial mortgage loan portfolios.
The leverage of all things digital is here. However, digitalization is NOT digital transformation, let alone digital leverage. As finance firms and their target markets reach their cycle peaks, the leverage of digital is a requirement most banking leaders have not incorporated into their forthcoming budgets and operations.
VEREIT, Phoenix, and Ocean West Capital Partners LLC, El Segundo, Calif., acquired $654 million in industrial properties.
Fannie Mae, Washington, D.C., said in the wake of the U.S. economy’s historic second-quarter contraction—nearly 40 percent—the strong rate of economic recovery seen in May and June sets up the third quarter for a “substantial rebound.”
Redfin Economist Taylor Marr said there’s more demand—and less supply—for rural and suburban neighborhoods than cities as the pandemic influences homebuyer preferences. Homes in rural areas have had higher price growth than suburban and urban areas since April.
