“Mortgage production profits were strong in the first three months of 2020 – despite a decline in production volume from the fourth quarter and March’s severe market volatility sparked by the COVID-19 pandemic.”
–Marina Walsh, MBA Vice President of Industry Analysis.
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,600 on each loan they originated in the first quarter, up from $1,182 per loan in the fourth quarter, according to the Mortgage Bankers Association’s newly released Quarterly Mortgage Bankers Performance Report.
Security worries have grown as more people work remotely due to the pandemic, so it is more important than ever to consider security considerations for the teleworking environment.
Chris McEntee is President of ICE Mortgage Services, Atlanta, the business unit responsible the Mortgage Electronic Registration System (MERS), which is now part of Intercontinental Exchange Inc. He serves as a Director of ICE Mortgage Services, the governing board of MERSCORP Holdings Inc. and chairs the Company’s Compliance, Governance and Risk Management Committee.
(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.)
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MISMO, the mortgage industry standards organization, seeks industry participants to join a Development Work Group to create a new standardized mortgage servicing portfolio risk and retention dataset.
What follows are findings from a survey of senior mortgage executives I conducted in the first half of May. Due to cancelation of MBA’s National Secondary Market Conference, this survey was completed over the phone rather than face to face, as has been the case in the 23 preceding surveys done since 2008. Normally the surveys are conducted at the secondary conference as well as at the MBA Annual Convention every October.
Security worries have grown as more people work remotely due to the pandemic, so it is more important than ever to consider security considerations for the teleworking environment.
In the first of three snapshots of employment data this week, ADP, Roseland, N.J., said private-sector employment fell by 2.76 million jobs in May.
