For decades, tax service has gone unchanged. There are many efforts to change this dynamic; layering in new technology for servicers to engage with their tax vendor and improving transparency in a historically monochromatic space.
Category: News and Trends
MBA Vice Chair Kristy Fercho Testifies Before House Subcommittee on Industry’s COVID-19 Response
Mortgage Bankers Association Vice Chair Kristy Fercho testified Friday before a House subcommittee on the real estate finance industry’s response to the coronavirus pandemic, saying mortgage servicers adapted to changing customer needs quickly and asking Congress to give the industry additional flexibility to address evolving market conditions.
MBA Advocacy Update
Last week, the Federal Housing Finance Agency announced temporary guidance from the GSEs to improve access to credit for borrowers who previously had entered forbearance. FHFA also released its highly anticipated proposal outlining a new capital framework for Fannie Mae and Freddie Mac.
MBA Vice Chair Kristy Fercho Testifies Before House Subcommittee on Industry’s COVID-19 Response
Mortgage Bankers Association Vice Chair Kristy Fercho testified Friday before a House subcommittee on the real estate finance industry’s response to the coronavirus pandemic, saying mortgage servicers adapted to changing customer needs quickly and asking Congress to give the industry additional flexibility to address evolving market conditions.
Private Capital Conversation: A Q&A with ACRES Capital CEO Mark Fogel
MBA NewsLink interviewed ACRES Capital CEO Mark Fogel about the alternative lending landscape.
MBA Chart of the Week: Existing Home Sales and Inventory
Existing home sales plunged in April, as much of the U.S. economy and housing market bore the brunt of the COVID-19 pandemic’s social distancing and closures. There was an 18 percent drop in the seasonally adjusted, annualized pace of home sales, the largest single month decline since July 2010.
Homebuying Demand Higher Than Before Pandemic; New Home Share at 8-Year High
Amid some absolutely dreadful housing news lately, there are signs of resilience—and perhaps, the seeds of recovery.
Analysts Downgrade Hotel Forecast Again
STR and Tourism Economics once again updated their hotel sector forecast. They now expect a 57.5 percent revenue per available room decline this year and a 48 percent RevPAR increase next year.
Commercial/Multifamily Briefs
Freddie Mac, McLean, Va., priced a new offering of Structured Pass-Through K Certificates backed by fixed-rate multifamily mortgages with predominantly 10-year terms as underlying collateral.
Dealmaker: Dwight Capital Finances $45M
Dwight Capital, New York, financed $96.7 million in HUD 223(f) loans, $95.1 million in HUD 223(a)(7) loans and $35 million in bridge loans.