Mortgage applications fell last week from one week earlier despite record low interest rates, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending May 29.
Category: News and Trends
Tom Lamalfa: May 2020 Survey of Secondary Market Executives
What follows are findings from a survey of senior mortgage executives I conducted in the first half of May. Due to cancellation 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.
MBA Education Path to Diversity Scholar Profile: Deborah Reavis, AMP
(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.)
FHFA Publishes Credit Risk Transfer Spreadsheet Tool
The Federal Housing Finance Agency yesterday published a Credit Risk Transfer spreadsheet tool based on the re-proposed capital rule for Fannie Mae and Freddie Mac.
CoreLogic: Home Prices Hold Steady
CoreLogic, Irvine, Calif., said its Home Price Index showed nationally, home prices increased by 5.4% from a year ago. From a month ago, home prices increased by 1.4% from March.
MISMO Seeks Participants to Help Reduce Mortgage Servicing Portfolio Risk
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.
(#MBA Live) Housing, Mortgage Markets Show Resiliency, Agility
With all that has hit the mortgage industry over the past several months, Mortgage Bankers Association Chief Economist Mike Fratantoni has a positive message for mortgage lenders and servicers: “It seems like the industry has done a fantastic job of finding solutions in this crazy environment,” Fratantoni said yesterday during MBA Live: Technology Solutions Conference.
Industry Briefs June 3, 2020
The Federal Housing Finance Agency released its latest report on the sale of non-performing loans by Fannie Mae and Freddie Mac. The report shows that, through December 31, 2019, the Enterprises sold 126,757 NPLs with a total unpaid principal balance of $23.8 billion.
Dealmaker: Greystone Closes $106M for Multifamily Properties
Greystone, New York, closed an $86.2 million 10-year refinancing of Aspire Apartments in Tracy, Calif.
MISMO to Charge 75-Cent Fee on MERS-Registered Loans to Fund Initiatives
The Mortgage Bankers Association, MISMO and Mortgage Electronic Registration Systems (MERS) Board of Directors approved an $0.75 administrative fee for every new loan registered on the MERS system to help fund MISMO initiatives.