Redfin, Seattle, said home sales surpassed pre-pandemic levels for the first time the week ending July 5, up 2% on a seasonally adjusted basis compared to January and February levels.
Category: News and Trends
Brian Simons: The Modern Operating Model for Mortgage Lenders
In the last five years, lenders have made great strides with significant investments in best-in-class borrower experiences, navigating a plethora of new digital tools, all while adeptly navigating the ups and downs of the market. In my experience, unfortunately, most initiatives to cut costs and improve quality are short-lived or merely incremental. What I have found over my 25 years in this industry is that transformational growth only occurs when senior leadership commits itself to reevaluating their entire operating model.
‘Urgent Need, Untapped Opportunity’ in Family-Oriented Rental Housing
Family-oriented rental housing supply has fallen behind other multifamily options as developers focus on young, often single renters rather than families who require larger units, said the Urban Land Institute and RCLCO.
FHLB of Des Moines, Ginnie Mae Get on the eNote Bus
This week saw a few speed bumps leveled in the road to the complete digital mortgage, with the Federal Home Loan Bank of Des Moines and Ginnie Mae announcing they would begin accepting residential mortgage electronic promissory notes—eNotes—as collateral.
Initial Claims Down Slightly Amid Continued Disruption
Initial claims filed with the Labor Department totaled 1.3 million last week, a decrease of just 10,000 from the previous week and a stark reminder of how the coronavirus pandemic has upended the U.S. economy.
Home Builder Confidence Back to Pre-Coronavirus Levels
Builder confidence in the market for newly built single-family homes jumped 14 points to 72 in July, the National Association of Home Builders reported yesterday, calling it a “strong signal” that the housing market is ready to lead a post-COVID economic recovery.
Dealmaker: Grandbridge Real Estate Capital Secures $50M
Grandbridge Real Estate Capital, Charlotte, N.C., secured $50.2 million for multifamily and retail properties in three states.
MISMO Launches Initiative to Facilitate Servicing Transfers
MISMO®, the mortgage industry’s standards organization, is seeking industry participants to collaborate on a new initiative to facilitate servicing transfers.
Quote
“Now is the time to scrutinize existing programs to expand those that work and fix or discard those that do not. Now is the time to work together to develop new approaches that leverage technology and creativity to close the minority homeownership and wealth gaps.”
–MBA President and CEO Robert Broeksmit, CMB, in a letter to HUD Secretary Ben Carson asking HUD to delay proposed changes to its disparate impact rule.
Mortgage Vendor News & Views with Scott Roller–July 17, 2020
In this ongoing article series, we report on mortgage and credit union vendor marketplace events and trends, and we then share our viewpoints. Today we highlight three very unique tech vendors that help in attracting and retaining borrowers, while improving your customer care model via a variety of newer entrants in our service provider market.