John Vella serves as Chief Revenue Officer of Altisource. Previously, he served as Chief Operating Officer of Equator LLC. He began his financial services career with the Federal Deposit Insurance Corp. and Freddie Mac and later served as Chief Sales Officer for H&R Block’s mortgage company.
Category: News and Trends
Nancy Alley: eClosing Best Practices, Part II: Driving Adoption with Key Stakeholders
There’s more to adopting a digital mortgage strategy than simply using the necessary technologies and processes. Successful adoption also depends on getting clear and explicit buy-in from key stakeholders, such as borrowers, lender team members and settlement agents. By getting these crucial groups on board, lenders can then make the digital mortgage experience intuitive, consistent and repeatable.
MBA Chart of the Week: Mobility Rates and Reasons for Moving
This week’s MBA Chart of the Week examines the reasons why fewer Americans are moving.
Mortgage Applications Decrease in MBA Weekly Survey
What goes up, must come down. Following a stellar start to the month last week, in which mortgage applications jumped by more than 30 percent after the New Year’s holiday, the pendulum swung back slightly.
MBA, Trade Groups Urge FHFA to Use Caution on Changes to GSE UMBS Pooling Practices
The Mortgage Bankers Association, in a letter to Federal Housing Finance Agency Director Mark Calabria, urged caution on a proposed “waterfall approach” to pooling practices used by Fannie Mae and Freddie Mac in the Uniform Mortgage-Backed Security market, saying in its current form the proposal could have a “negative effect” on market liquidity, raise borrowing costs and reduce access to credit.
MBA Statement on CFPB Letter to Congress on QM Standard
On Jan. 17, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to members of Congress, signaling proposed changes to the current Qualified Mortgage standard.
Black Knight ‘First Look:’ Strong Close to 2019 Pushes Mortgage Delinquency Rate to Near-Record Low
Black Knight, Jacksonville, Fla., said mortgage delinquencies fell by nearly 4% month-over-month to within 0.04% of the record low set this past May and more than 12% below from a year ago.
Homes For Sale at 7-Year Low
Zillow, Seattle, said for-sale homes in the U.S. fell to their lowest point in seven years in December, with no signs of improving any time soon.
John Vella of Altisource on URLA, Non-QM Lending and Improving the Borrower Experience
John Vella serves as Chief Revenue Officer of Altisource. Previously, he served as Chief Operating Officer of Equator LLC. He began his financial services career with the Federal Deposit Insurance Corp. and Freddie Mac and later served as Chief Sales Officer for H&R Block’s mortgage company.
MBA Advocacy Update
On Friday, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to Congress outlining the Bureau’s plan for a revised Qualified Mortgage Standard.