Planet Home Lending LLC, Meriden, Conn., promoted Dalila Ramos to Vice President of Talent Acquisition to support recruiting efforts and attract talent.
Category: News and Trends
Full Hotel Recovery Unlikely Until 2024
STR, Hendersonville, Tenn., and Tourism Economics, Wayne, Pa., slightly upgraded their final 2020 U.S. hotel forecast, but called full recovery in revenue per available room “unlikely” until 2024.
3rd Quarter Foreclosure Auctions Hit 6-Month High
Auction.com, Irvine, Calif., said completed foreclosure auctions in September increased by24 percent from August to the highest level since the COVID-19 pandemic was declared in March.
Mark P. Dangelo: Lead, Follow or be Run Over
As we investigate 2021, one thing is certain, technology will be the innovation mantra pushing mortgage bankers and their high-touch processes into realities such as straight-through processing. These advanced technical innovations will challenge FSBO’s to think very, very differently.
IRS Updates Tax Transcript Request Form
The Internal Revenue Service last week announced changes to the form lenders use to request tax transcripts in its Income Verification Express Service (IVES) Program. The new Form 4506-C supersedes Form 4506-T.
MBA: Share of Mortgage Loans in Forbearance Edges Up to 5.48%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased to 5.48% of mortgage servicers’ portfolio volume as of November 15, from 5.47% the week before. MBA estimates 2.7 million homeowners are in forbearance plans.
State Regulators Advise Licensees to Renew by Nov. 30
State regulators encourage individuals and businesses that provide mortgage, money transmission, debt collection and consumer financial services to renew their licenses in Nationwide Multistate Licensing System by November 30 to avoid processing delays.
MBA Advocacy Update Nov. 23 2020
On Wednesday, the Federal Housing Finance Agency issued a final rule establishing a revised capital framework for Fannie Mae and Freddie Mac. The final capital framework follows an initial proposal put forth by FHFA in 2018, which was re-proposed in 2020.
Quote
“A marked slowdown in forbearance exits, as well as a slight rise in the share of Ginnie Mae, portfolio and PLS loans in forbearance, led to an overall increase for the first time since early June.”
–MBA Chief Economist Mike Fratantoni.
MBA Chart of the Week: Seriously Delinquent Rate by States for Q3 2020
MBA released its National Delinquency Survey results for the third quarter last week. This week’s chart highlights the seriously delinquent rate – the percentage of loans that are 90 days or more delinquent or in the process of foreclosure – in every state across the country.