The financial services and mortgage industries have not felt the full impact and unintended consequences of COVID-19 and the governmental interventions. The result will be that innovation disruption moving forward will be not be kind, will not be benevolent, and will not be industry friendly.
Category: News and Trends
MBA Reports Rise in 1st Quarter Mortgage Delinquencies
Mortgage delinquencies rose in the first quarter as the economic effects of the coronavirus pandemic began to take hold, the Mortgage Bankers Association reported this morning.
MBA Education Path to Diversity Scholar Profile: Jina Choi
Jina Choi is Vice President of Enterprise Innovation with loandepot.com
Scott Roller: Remote Online Notarization – Navigating the Icebergs
Necessity is the mother of all invention, so the saying goes. No, not exactly true here. RON was already being deployed in pockets across the industry pre-coronavirus. Therefore, its more appropriate to proclaim, “perplexing problems produce instant popularity where past procrastination persisted.” Said more plainly – nothing is more white-hot than RON right now, and everyone suddenly cannot live without it. Demand far-outstrips supply by a factor too large to contemplate.
Matt Clarke: How Technology Can Enhance Borrower’s Experience by Supporting Lender
As the industry becomes increasingly digital, mortgage professionals must find a way to survive and keep up with demand at rapid speed. Unfortunately, the latest and greatest technology comes at a price. To truly succeed, mortgage professionals need to determine strategies that reduce expenses while offering a convenient relationship-based mortgage experience for borrowers.
MBA Premier Member Profile: Richey May
Richey May, Englewood, Colo., is an accounting and business consulting firm, focused on the mortgage banking industry. Our diverse offerings include Audit, Tax, Accounting, Business Advisory and Technology Consulting. Founded in 1985, our specialized approach allows us to serve our clients at a high level, with many service leaders holding previous experience at mortgage companies.
Multifamily Leasing Bounces Back
New apartment lease signings “clawed back” to year-ago levels in late April after plunging nearly 50 percent in late March, reported RealPage, Richardson, Texas.
Purchase Applications Drive Increase in MBA Weekly Survey
Mortgage applications edged up for the second straight week, driven by strong purchase application activity, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending May 8.
Federal Agencies Launch Joint Mortgage, Housing Assistance Website on Coronavirus Impact
The Consumer Financial Protection Bureau, Federal Housing Finance Agency and HUD yesterday launched a new mortgage and housing assistance website designed to ensure homeowners and renters have current and accurate housing assistance information during the COVID-19 national emergency.
Dealmaker: JLL Arranges $85M
JLL Capital Markets, Chicago, arranged $85.2 million for retail and condominium properties in Boulder, Colo. and Miami.