Mortgage bankers and consumer lenders of every stripe have their plates full right now, so some may have missed a significant development or not had the bandwidth to consider its implications. One of America’s primary investors in loans to consumers has lost confidence in automated systems used for verifying loan applicants’ current employment status, accelerating an already-in-motion shift in how borrowers’ ability to repay needs to be assessed.
Category: News and Trends
MBA Chart of the Week: Proportion of Work Being Performed Remotely
MBA’s Chart of the Week three weeks ago (May 8) focused on the U.S. Bureau of Labor Statistics’ bleak April report on employment conditions. We examined which industries and sectors have been hardest hit by the COVID-19 pandemic. This week, we continue our examination of the labor market using new survey data released by the Federal Reserve Board, and examine, by education level, how many people were able to work from home as the crisis deepened in early April.
Sponsored Content: Intelligent Valuation Portal — Your Rules, Your Evolution
Learn how the Connexions Intelligent Valuation Portal can help you excel in times of change.
Distressed Debt Monitor: Q&A With SitusAMC’s Tim Mazzetti, CMB
MBA NewsLink interviewed Tim Mazzetti, CMB, who leads SitusAMC’s Servicing & Asset Management division.
Private Capital Conversation: A Q&A with ACRES Capital CEO Mark Fogel
MBA NewsLink interviewed ACRES Capital CEO Mark Fogel about the alternative lending landscape.
California County Ends Controversial PACE Loan Program
Forget the coronavirus—if you want to raise the blood pressure of a mortgage lender or servicer, just say these two words: “PACE loan.”
Robert Tyler-Cook: Five Questions Help You Assess ‘Fit’ Issues that Influence Growth
The most successful partnerships in mortgage banking come about because there’s a solid match between what the originator on the street needs and what the corporate parent (or its branch) has to offer.
Michael Farris of Origence on Adapting to Disruption
Michael Farris is Vice President of Strategic Solutions with Origence, Irvine, Calif., developer of the Origence origination platform, an end-to-end platform that powers mortgage, consumer and home equity lending for financial institutions.
People in the News: Vionna Adams Joins ClearBlu as Advisor
ClearBlu Capital Group, Bellevue, Wash., appointed Vionna Adams as an advisor. She will play a critical role assisting in real estate planning, project management, civil engineering and other advisory services.
MBA Education Path to Diversity Scholar Profile: Nicole Upshur
(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.)