For the first time since the economic effects of the coronavirus took hold, new applications for unemployment fell below one million, although they remain elevated by historic standards.
Category: News and Trends
MBA Mortgage Action Alliance ‘Call to Action’ Targets GSE Refi Fee
In the wake of new directive by Fannie Mae and Freddie Mac to impose a 50 basis point “Adverse Market Refinance Fee” on most refinance mortgages, effective Sept. 1, the Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a ‘Call to Action’ urging its 50,000 members to contact their members of Congress and the Federal Housing Finance Agency to roll back the directive.
Analysts Downgrade Hotel Outlook
Full recovery in U.S. hotel demand and room revenue remains unlikely until 2023 and 2024, respectively, said STR, Hendersonville, Tenn., and Tourism Economics, Wayne, Pa.
Distressed Debt Monitor: A Conversation with Mayer Brown Partner Jeffrey O’Neale
MBA NewsLink interviewed Jeffrey O’Neale, a partner in Mayer Brown’s Charlotte office and a member of the Real Estate Markets practice. A primary focus of his practice is representing special servicers in loan workouts, restructurings and modifications and repurchase facility buyers in the servicing and administration of their commercial mortgage loan portfolios.
Dealmaker: Greystone Provides $100M in HUD-Insured Multifamily Financing
Greystone, New York, provided $100.3 million in HUD-insured loans for multifamily properties in California and Texas.
Mark Dangelo: Beyond Digital Transformation—A Tale of What is Coming
The leverage of all things digital is here. However, digitalization is NOT digital transformation, let alone digital leverage. As finance firms and their target markets reach their cycle peaks, the leverage of digital is a requirement most banking leaders have not incorporated into their forthcoming budgets and operations.
MBA: July New Home Purchase Mortgage Applications Up 1% from June, 39% from Year Ago
The Mortgage Bankers Association this morning released its July Builder Applications Survey, reporting mortgage applications for new home purchases increased by 39 percent from a year ago and by 1 percent from June.
Housing Market Roundup Aug. 14, 2020
Here’s a quick-hit summary of housing market headlines this week, featuring reports from Redfin; Bankrate.com; Black Knight; and Fitch Ratings.
Industry Briefs Aug.14, 2020
Inlanta Mortgage, Pewaukee, Wis., announced it launched the OptifiNow CRM and automated marketing platform to improve its branch development and recruiting efforts.
People in the News–Aug. 14, 2020
Brookstone Management, Howell, N.J., a national provider of mortgage field services, announced JK Huey, CMB, AMP, joined its Advisory Board and will serve as Corporate Ambassador.