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
MBA Education Webinar Today: COVID-19 Tax and Accounting Relief
Join MBA and subject matter experts today, April 10 from 1:00-2:00 p.m. ET to hear how recent legislation passed by Congress may impact your business from accounting and tax perspectives.
Industry Briefs
Appraisal Logistics, Annapolis, Md., launched Property Vision, an appraisal inspection tool to provide appraisers with consumer-provided photographic data.
ATTOM: 2019 Property Taxes Rise to $306 Billion
ATTOM Data Solutions, Irvine, Calif., reported property taxes levied on more than 86 million single-family homes in 2019 totaled $306.4 billion, up 1 percent from $304.6 billion in 2018—the smallest increase in three years.
Dealmaker: IPA Sells L.A. County Apartment Property for $32M
Institutional Property Advisors, a division of Marcus & Millichap, sold South Hills Apartments, an 85-unit apartment property in West Covina, Calif. The $31.95 million sales price equates to $375,882 per unit.
Jennifer Henry: In an Uncertain Market, Servicers Are Leveraging Data, Technology to Drive Efficiency
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.
Round 3: Initial Unemployment Claims Pile Up 3rd Week in a Row
Nearly 6.6 million Americans filed new applications for unemployment benefits during the first week of April, the Labor Department reported yesterday, bringing the total number over the past three weeks to nearly 17 million.
MBA Asks Small Business Administration to Relax Eligibility Rules for PPP Loans
The Mortgage Bankers Association, in a letter this week to the Treasury Department and the Small Business Administration, asked SBA to relax a part of its eligibility rule so that small independent mortgage banks can qualify for loans under Section 7(a) of the recently approved Paycheck Protection Program.
Fed Announces Additional $2.3 Trillion in Government Loan Facilities
The Federal Reserve yesterday announced a dramatic increase to the scale and scope of its mortgage-backed securities purchases, providing up to $2.3 trillion in new loans to support the economy to bolster the ability of state and local governments to deliver services during the coronavirus pandemic.
Fed Announces Additional $2.3 Trillion in Government Loan Facilities
The Federal Reserve this morning announced a dramatic increase to the scale and scope of its mortgage-backed securities purchases, providing up to $2.3 trillion in new loans to support the economy to bolster the ability of state and local governments to deliver services during the coronavirus pandemic.