“[Yesterday’s] announcement from the Federal Reserve is aligned with this reading of the economy: we might be getting better – but we are still far away from full employment – with risks ahead from a second wave of the pandemic and huge economic uncertainties. Monetary policymakers will therefore keep rates low for years to ensure a full recovery.”
–MBA Chief Economist Mike Fratantoni.
Mortgage applications increased from one week earlier as key interest rates held steady, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending June 5.
HUD issued a news release this month marking National Homeownership Month, recognizing the importance of homeownership and its impact upon the lives of American families, local neighborhoods and the national economy.
Our industry’s reliance on technology is deepening every day as never-before-experienced demands emerge. For example, in a world that demands distance, the ability to perform an eClosing has evolved from nice-to-have to “essential worker” status. Lenders entering this uncharted territory may find setting internal and external eClosing protocols daunting. Whether you adopt a hybrid process or go fully digital, there are best practices consistent for each option that can ensure your successful eClosing implementation.
Banking was a “contact” industry—prior to the Great Recession. With the loss of 12,000 branches in the past decade and consumers now doing over 90% of their transactions digitally, public health implications and social unrest, if sustained, may be the catalysts for closing many more branches by 2022.
(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.)
Gantry Inc., San Francisco, arranged $74.8 million in five transactions in Washington, Arizona and California.
Mortgage applications increased from one week earlier as key interest rates held steady, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending June 5.
CoreLogic, Irvine, Calif., said its analysis of March mortgage delinquencies and foreclosures found despite the early impact of the coronavirus pandemic, delinquencies remained relatively low.
Real Capital Analytics, New York, said commercial real estate prices have not yet been decimated by the COVID-19 pandemic–but volume certainly has felt its effects.
