While the falling home loan rates mean a booming business for the mortgage industry and a sign the housing market may help the U.S. economy avoid a true recession, it could also pose a challenge for those trying to process the influx of applications and requests. The digital mortgage servicing journey must focus on streamlining the process through technology and data-enabled solutions.
Category: News and Trends
Remote Online Notarization: Steps Lenders Can Take During Coronavirus Pandemic
Due to limited opportunities for face-to-face interactions, the ability to use remote online notarization to complete financial transactions has become a major priority for the real estate finance industry. RON uses two-way audio-visual technology to complete a notarial act when the principal is not in the same physical location as the notary public.
Mortgage Applications Up as Interest Rates Hit Record Low in MBA Weekly Survey
Mortgage applications increased from one week earlier as the 30-year fixed interest rate fell to the lowest level in survey history, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending April 10.
MBA: 2019 Commercial/Multifamily Originations Reach Record $600.6 Billion
Commercial and multifamily mortgage bankers closed a record $600.6 billion of loans in 2019, according to the Mortgage Bankers Association’s 2019 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
Mortgage Applications Up as Interest Rates Hit Record Low in MBA Weekly Survey
Mortgage applications increased from one week earlier as the 30-year fixed interest rate fell to the lowest level in survey history, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending April 10.
Fannie Mae, Freddie Mac Extend URLA Implementation Timeline
Freddie Mac and Fannie Mae announced yesterday they will extend the implementation timeline for the redesigned Uniform Residential Loan Application and automated underwriting systems to support the industry during the COVID-19 pandemic.
Remote Online Notarization: Steps Lenders Can Take During Coronavirus Pandemic
The COVID-19 virus has created a level of uncertainty in our country not seen since the financial crisis of 2008. Moreover, recent orders by state governments to shelter in place or executive proclamations closing non-essential businesses have made it exceedingly difficult for our industry to serve consumers and complete real estate financial transactions.
HUD Announces New CARES Act Mortgage Payment Relief Guidance
HUD announced new mortgage payment relief guidance under the CARES Act for borrowers with multifamily mortgages insured by FHA or borrowers participating in other HUD multifamily housing programs.
MBA: 2019 Commercial/Multifamily Originations Reach Record $600.6 Billion
Commercial and multifamily mortgage bankers closed a record $600.6 billion of loans in 2019, according to the Mortgage Bankers Association’s 2019 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
Mark P. Dangelo: Are Bankers Necessary? Part 2
At a time when the world is dealing with COVID-19—economic, political, social, medical, personal and even spiritual—it is up to financial services organization leadership to look forward to the lasting impacts on banking and finance. Innovation breadth during times of great crisis will not be challenged, and the operating result will be a very foreign landscape to those anticipating minimal post-crisis adjustments.