June is Homeownership Month in a year unlike any other. MBA NewsLink asked executives of four lenders to discuss how the coronavirus has affected their business and what they are doing to adapt and succeed.
Category: News and Trends
NAMMBA Town Hall: The COLOR of COVID Today
NAMMBA hosts a special state of the industry town hall series, The COLOR of COVID, this Friday, June 19, from 1:00-4:00 p.m. ET.
David Upbin of MBA Education on Staying Ahead of the Curve
David Upbin is Vice President of Education Operations and Programming & MBA Strategy with the Mortgage Bankers Association. He joined MBA in 2013 and is responsible for financial management, operations, delivery and programming of MBA Education’s suite of training products and events.
MBA Education Path to Diversity Scholar Profile: Ashley Duffy
(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.)
Quote
“This year’s first quarter marked the end of a long period of extraordinarily low and stable delinquency rates for commercial and multifamily mortgages. With the onset of the COVID-19 pandemic and our social and economic responses to it, more recent data from MBA and others show increasing pressure on delinquency rates, particularly for loans backed by hotel and retail properties, where the impacts have been most immediately and dramatically felt.”
–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.
Radian: U.S. Home Price Gains Slow in May
Radian Group, Philadelphia, said home prices across the United States rose at an annualized rate of 4.5 percent in May from April.
Fitch: Title Insurers ‘Well-Capitalized’ Against Coronavirus Fallout
Fitch Ratings, Chicago, said while U.S. title insurer revenues will likely decrease in 2020 from pressure on both the residential and commercial real estate markets as they continue to grapple with the fallout from the ongoing coronavirus pandemic, after a strong 2019, capitalization levels will likely be adequate.
FHFA, FHA Extend Foreclosure/Eviction Moratorium to Aug. 31
The Federal Housing Finance Agency and HUD announced Fannie Mae, Freddie Mac and FHA will extend their single-family moratorium on foreclosures and evictions until at least August 31.
MBA: 1Q Commercial, Multifamily Mortgage Delinquencies Remain Low
Commercial and multifamily mortgage delinquencies remained low at the end of the first quarter, the Mortgage Bankers Association said this morning in its first quarter Commercial/Multifamily Delinquency Report.
May Housing Starts Post Modest Increase
HUD and the Census Bureau yesterday reported May housing starts improved by 4.3 percent, stopping a two-month freefall in the wake of the coronavirus pandemic.