Wells Fargo & Co., Des Moines, Iowa, announced Kristy Fercho will join the company at the beginning of August as head of Wells Fargo Home Lending. She will replace Michael DeVito, who has announced plans to retire later this summer after more than 23 years with Wells Fargo.
Category: News and Trends
MBA Advocacy Update
Fannie Mae and Freddie Mac issued a lender letter and bulletin that offer additional information for market participants regarding implementation of the redesigned Uniform Residential Loan Application. Late last week, Ginnie Mae issued APM 20-08 and APM 20-09, both of which clarify requirements relevant to independent mortgage bank issuers. And MBA joined a coalition of trade groups to provide ex parte comments in response to the FCC’s June 25 draft order establishing a call-blocking safe harbor.
MBA Chart of the Week: Delinquency Status of Unpaid Principal Balance 2nd Quarter
The $3.7 trillion commercial and multifamily mortgage market is really a confederation of different capital sources, property types and geographic markets, all bound together by the provision of mortgage capital backed by investment property incomes and collateral value. Often, the overall market moves in tandem. At other times – like now – different segments act very differently.
Mark Dangelo: Beware—Watch This Space, Part One
In a world of uncertainty, bankers, lenders and technology firms had grown accustom to traditional measures and approaches honed over decades of lessons learned. Today, the playbooks are gone, and we need to accept that consumers will not wait for us as we say the right things—but execute against a script that has been retired.
Faith Schwartz: New Era Borne of Pandemic to Upend Mortgage Costs
As longtime industry participants, we at Housing Finance Strategies contend that the pandemic has created a revolutionary opportunity that we must seize and leverage so that the mortgage business can emerge with higher quality prospective products funded through a drastically reduced cost structure.
MBA Education Path to Diversity Scholar Profile: Sammy Ramirez
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Craig Riddell of LoanLogics on Digital Technologies
Craig Riddell is Executive Vice President and Chief Business Officer with LoanLogics, Trevose, Pa. He is responsible for establishing and developing ongoing relationships with LoanLogics’ largest enterprise clientele, as well as leading the company’s Sales, Marketing and Account Management functions.
Housing Finance Roundup: July 13, 2020
MBA NewsLink summarizes more than half a dozen new reports from Redfin; Zillow; First American Financial Corp.; Fitch Ratings; ATTOM Data Solutions; and Black Knight.
The Week Ahead
The Mortgage Bankers Association releases several reports this week, starting with its weekly Forbearance and Call Volume Report this afternoon at 4:00 p.m. ET. Look for a special edition of MBA NewsLink today to give you the latest info. MBA also releases its monthly Builder Applications Survey on Tuesday, July 14 (tentative) and its Weekly Applications Survey this Wednesday, July 15.
CRE Market Sentiment Plunges
CRE executives’ market sentiment “plunged as expected” in mid-2020, said RCLCO Real Estate Advisors, Washington, D.C.