September new home sales fell for the first time in five months, HUD and the Census Bureau reported yesterday.
Category: News and Trends
MBA: Share of Mortgage Loans in Forbearance Dips Slightly to 5.90%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 2 basis points to 5.90% of servicers’ portfolio volume as of Oct. 18, from 5.92% the prior week. MBA estimates 3 million homeowners are in forbearance plans.
Quote
“The housing market is booming, as shown by the extremely strong pace of home sales last week. However, many homeowners continue to struggle, as the pace of the job market’s improvement has waned.”
— Mike Fratantoni, MBA Senior Vice President and Chief Economist.
MBA: Share of Mortgage Loans in Forbearance Dips Slightly to 5.90%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 2 basis points to 5.90% of servicers’ portfolio volume as of Oct. 18, from 5.92% the prior week. MBA estimates 3 million homeowners are in forbearance plans.
Quote
“The housing market is booming, as shown by the extremely strong pace of home sales last week. However, many homeowners continue to struggle, as the pace of the job market’s improvement has waned.”
— Mike Fratantoni, MBA Senior Vice President and Chief Economist.
Mark P. Dangelo: Beyond Digital Transformation, Part 3—Preparing for the M&As of 2021
Banking and lending organizations with superior digital assets will create disruptive customer experiences and insights. They will be the sharks seeking the distressed institutions as 2021 arrives. Digital leverage has become a currency for innovative firms seeking larger markets, margins, and non-organic growth multipliers made singularly possible by their post-deal integrations skills and capabilities.
Christy Moss, CMB, and Ken Logan, CMB: Reps and Warrants Relief Key to IMB Liquidity Strategies
There is more to spinning today’s volume into gold than efficiently originating high quality loans. For independent mortgage banks, the name of the game is liquidity. Lenders with an eye and a taste for transformative growth are equally attentive to their liquidity strategies, including how their origination practices impact liquidity now and after the current cycle ends.
MBA Advocacy Update Oct. 26, 2020
On Monday at the MBA Annual Convention and Expo 2020, Federal Housing Finance Agency Director Mark Calabria announced a proposed rule regarding development of new products and activities by the GSEs.
MBA Chart of the Week: Missed Payments By Month (Q2-Q3)
This week’s MBA Chart of the Week chart provides fresh third quarter 2020 insights on the Research Institute for Housing America’s special report released in September that highlighted household financial distress during the second quarter—the first three months of the pandemic.
People in the News Oct. 26, 2020
STRATMOR Group, Greenwood Village, Colo., announced that company principal Seth Sprague, CMB, has been named chairperson of the Mortgage Bankers Association’s Certified Mortgage Banker (CMB®) Society for the 2020-2021 year.