According to the latest edition of MBA’s Weekly Forbearance and Call Volume Survey, the share of loans in forbearance dropped to 5.67 percent of servicers’ portfolio volume as of November 1 — well below its peak of 8.55 percent as of June 7.
Category: News and Trends
Dealmaker: George Smith Partners Secures $51M for Mixed-Use, Multifamily
George Smith Partners, Los Angeles, arranged $50.8 million for mixed-use and multifamily assets in California.
Housing Market Roundup Nov. 16, 2020
Redfin, Seattle, said popular second-home destinations including the Jersey Shore, Cape Cod, Lake Tahoe, Palm Springs and Bend, Ore., are heating up and becoming full-time residences for homebuyers who have the luxury of working remotely.
Scott Roller: Mortgage Vendor News & Views (November)
This major trend continues – banks and lenders sticking to their core competencies and seeking strategic vendor partners for the non-core – via technology and outsourcing. The low rate ‘feeding frenzy’ will come to an abrupt end, we just don’t know when. Still yet, we are starting to see financial institutions give more focus to the bottom line – cost cutting. Engaging third-party vendors is often a first consideration, reducing fixed costs.
The Week Ahead—Nov. 16, 2020
Good morning and happy Monday! It’s that “in-between period” here in Washington—in-between holidays (Veterans Day and Thanksgiving), in-between autumn and winter; and in-between Administrations (we think).
MAA Post-Election Update Nov. 19
The MBA Mortgage Action Alliance Post-Election Update, taking place Thursday, Nov. 19 from 2:00-3:00 p.m. ET, provides MAA members (and prospective MAA members) with a briefing on election results to date and the anticipated impacts on the industry.
Attention Lenders: 2021 MBA/STRATMOR Peer Group Roundtables Around the Corner
Is your company flying blind with incomplete or incomparable data to support key business decisions? Consider joining an elite group of 100+ lenders this spring that participate in the MBA and STRATMOR Peer Group Roundtables
FHA 2020 Actuarial Report: MMI Fund Capital Ratio at 13-Year High
The Federal Housing Administration on Friday said its Mutual Mortgage Insurance Fund capital ratio ended fiscal year 2020 at 6.1 percent, well above its congressionally mandated 2.0 percent capital ratio to its highest level since 2007.
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“Today’s report reconfirms the important role that FHA plays in providing access to the housing market for qualified first-time, minority, and low- to moderate-income borrowers. It is gratifying to see the improved performance of both the forward and reverse mortgage books of business.”
–MBA President & CEO Robert Broeksmit, CMB, in a statement regarding the Actuarial Report on the FHA Mutual Mortgage Insurance Fund released Friday.
MBA Advocacy Update Nov. 16, 2020
On Friday HUD released its annual report detailing the financial condition of the FHA Mutual Mortgage Insurance Fund. On Tuesday and Thursday, federal prudential regulators from the Federal Reserve, FDIC, OCC and NCUA appeared before the Senate Banking Committee and the House Financial Services Committee to discuss the economic impact of the COVID-19 pandemic.