“In this year of bleak economic news, surging refinance volume and steady home purchase business have been bright spots. Low rates have fortified lenders’ pipelines and put more money in originators’ paychecks. LO commissions paid out during the three-month period are up 59% over 2019. I just hope some of that hard-earned money gets set aside for the rainy days that are bound to follow expected increases in unemployment and loan defaults.”
–Lori Brewer, Founder and CEO of LBA Ware, Macon, Ga.
The Mortgage Bankers Association and affiliated groups shared recommendations with the Senate Banking Committee to improve the Main Street Lending Program’s effectiveness for commercial real estate owners and tenants.
(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.)
The technologies behind these changes have been with us for some time, but it took a crisis of mammoth proportions to accelerate adoption. Yet there are other areas of the mortgage business still sorely in need of innovation. And if lenders hope to remain competitive and thrive when the smoke from the pandemic clears, they need to be embracing these innovations today.
eMortgages have grown significantly – and in light of recent events, demand is higher than ever. Henry Cason, SVP and Head of Digital Products at Fannie Mae, shares how the industry is embracing digital mortgage solutions. Read our attached blog post for more information.
LRES Corp., Orange, Calif., named Tina Suihkonen as Senior Director of Commercial Services. She will lead LRES’ commercial default services division and provide nationwide commercial trustee and foreclosure services.
MBA NewsLink interviewed Timothy E. Steward, Senior Vice President and co-head of Midland Loan Services, a PNC Real Estate business. Steward leads a team of more than 500 professionals responsible for delivering loan servicing, asset management and technology services to the commercial real estate finance industry.
MBA NewsLink talked with Maurice Jourdain-Earl, Managing Director of ComplianceTech, McLean, Va., a provider of software and services to enable fair and responsible lending compliance. He is a noted speaker and writer on HMDA and fair lending practices and has appeared frequently at MBA events and sits on MBA’s member-led Diversity & Inclusion Advisory Committee.
Black Knight, Jacksonville, Fla., said after rising from 3.2% in January to 7.8% in May, the national delinquency rate improved for the first time in five months, falling to 7.6% in June as the overall number of past-due mortgages declined by 98,000.
Despite record low inventories, RE/MAX, Denver said June home sales posted a solid 37 percent gain as more states loosened stay-at-home mandates stemming from the coronavirus pandemic.
