On Tuesday, MBA President and CEO Bob Broeksmit, CMB, issued a statement responding to FHFA Director Mark Calabria’s comments dismissing the need at this time for a federally backed liquidity facility to assist mortgage servicers during the COVID-19 pandemic. MBA continues to advocate for the industry to help MBA members address the financing needs of their customers during the ongoing pandemic, and we will provide updates as they become available.
Category: News and Trends
Black Knight: COVID-19 Unemployment Spike Triggering Surge in Mortgage Forbearance Requests
Leading up to the coronavirus outbreak, said Black Knight, Jacksonville, Fla., the vast majority of mortgage performance metrics were at or near record levels. Now, says Black Knight Data & Analytics President Ben Graboske, the mortgage market has been turned upside down.
MBA Opens Doors Foundation Sees Increase in Grant Applications
The MBA Opens Doors Foundation, which helps families around the country stay in their homes while a child is being treated for a critical illness or injury, is seeing an increase in grant applications from families in need.
Coronavirus Undermines CRE Market Momentum in Preliminary Q1 Data
Boxwood Means, Stamford Conn., said fallout from the coronavirus pandemic is becoming apparent in commercial real estate market fundamentals.
Dealmaker: Walker & Dunlop Provides $340 Million Acquisition Financing for Cortland REIT
Walker & Dunlop Inc., Bethesda, Md., structured $340 million in financing for Cortland’s acquisition of PURE Multi-Family REIT.
MBA Chart of the Week: Loans in Forbearance as Percent Share of Servicing Portfolios
New survey findings released by MBA this week highlight the unprecedented, widespread mortgage forbearance already requested by borrowers affected by the spread of the coronavirus (COVID-19).
The Week Ahead
Good morning! We’re pretty sure today is Monday. And we think it’s April. We’ll get back to you on that. To all of you out there: thank you for what you are doing to help people achieve—and maintain—the American Dream. Stay healthy and safe.
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.
Mortgage Vendor News & Views with Scott Roller
In this ongoing article series, we report on mortgage and credit union vendor marketplace events and trends, and we then share our viewpoints. The theme for today’s article is vendor innovations that are driving speed, quality and cost saves – a select few vendors that really don’t look much like their contemporaries.
Michael Steer: Coronavirus Highlights Need for Pandemic Planning
With concerns surrounding coronavirus sending shockwaves throughout the U.S. and global economies, mortgage companies would be well advised to add pandemics to their list of events that could disrupt normal operations, as this specific type of incident poses unique challenges.