In an industry accustom to regulatory guidance and rigidness, there are growing crack in the traditional dogma focusing on innovation as customer drivers. While innovation is important, 2020 will usher in introductory trends which will comprehensively reshape the mortgage industry.
Category: News and Trends
CoreLogic: October Home Prices Up 3.5%
CoreLogic, Irvine, Calif., said home prices increased nationally by 3.5% year over year in October and by 0.5% month over month.
MISMO To Address Inconsistencies in Electronic Mortgage Documents
MISMO, the mortgage industry standards organization, seeks industry participation in an effort to reduce friction due to the use of non-standard electronic documents (eDocs).
Call for Nominations: MBA NewsLink 2020 Tech All-Star Awards; Deadline Jan. 10
The Mortgage Bankers Association and MBA NewsLink are accepting nominations for the MBA NewsLink 2020 Tech All-Star Awards. Nominations will be accepted through Friday, Jan. 10.
Residential Briefs
The Federal Housing Finance Agency will extend, from Dec. 19 to Jan. 21, 2020, the deadline for interested parties to provide input on potential changes to Fannie Mae and Freddie Mac Uniform Mortgage-Backed Security pooling practices.
Hello, Diversity: I’m Equality
By Aneeza Haleem
Tolerance, diversity and inclusion should not be political opinions or corporate checkboxes–they are non-negotiable human rights.
MBA Mortgage Action Alliance Update
Last Thursday, Congress passed, and the president signed into law, another short-term continuing resolution to fund the government until December 20. On Tuesday, FHFA announced plans to repropose the agency’s rule on capital requirements for Fannie Mae and Freddie Mac in 2020. And on Nov. 24, the mortgage loan originator temporary authority law went into effect.
October Pending Home Sales Slip 1.7%
Pending home sales fell back in October after two prior months of increases, the National Association of Realtors reported last week. However, they improved nationally and in all regions from a year ago.
The Week Ahead
Welcome back from the holidays. Now, take a deep breath and get ready for December!
MBA Chart of the Week: Thanksgiving Prices Since 2000
This week’s chart highlights prices of items that households commonly purchase this time of the year. This is based on data from the Consumer Price Index, a main measure of price inflation published by the U.S. Bureau of Labor Statistics.