Ginnie Mae, Washington, D.C., on May 1 published the first set of data related to its expanded Pass-Through Assistance Program (PTAP/C19), developed in response to the COVID-19 pandemic.
Category: News and Trends
MBA Advocacy Update
MBA continues to advocate for the industry to help MBA members address the financing needs of their customers during the ongoing pandemic and will provide updates as they become available. Several updates pertaining to COVID-19, along with other industry activities, are included in this week’s communication.
MBA Chart of the Week: IMB Production Profits
Independent mortgage banks and mortgage subsidiaries of chartered banks reported average pre-tax production profits of 58 basis points ($1,470 on each loan they originated) in 2019, up from 14 basis points ($367 per loan) in 2018, according to the MBA Annual Mortgage Bankers Performance Report, released last month.
The Week Ahead
Congress was expected to reconvene today. The Senate is here; the House is not. House Democrats decided last week that the proximity of 435 Members—some wearing face masks, some defiantly not—was not prudent, particularly in a city that saw its highest death tolls yet from the coronavirus over the past several days.
MBA Education Path to Diversity Scholar Profile: Christa Thomas
Christa Thomas is Assistant Director of Lending Operations with the Indiana Neighborhood Housing Partnership, Indianapolis and a participant in the MBA Path to Diversity Program.
Brenda Colter: Branch Advocacy Beyond Onboarding is Just the First Step
Joining a new company can be stressful and exciting all at the same time. After a mortgage loan originator gets their new equipment and completes training, the excitement might wear off, but the need for explanations, connections and support remains. hat’s why we need branch advocates who step in and support branches after onboarding concludes.
MISMO Issues Standardized Closing Instructions
MISMO, the Mortgage Industry’s Standards Maintenance Organization, announced issuance of standardized closing instructions.
Tools for a Construction Lender’s Toolbox in the COVID-19 Era
While lenders are rightfully reluctant to take over a distressed project, they would still be wise to remain prepared in the event they are left with no other choice. Lenders should consider the following tips in order to remain ready to take over a failing project.
People in the News
Homespire Mortgage, Gaithersburg, Md., announced Shondra B. Jenkins joined its team as Director of Philanthropy and Community Engagement, to further develop and enhance its corporate social responsibility programs and outreach.
MBA Launches Consumer Ad Campaign
The Mortgage Bankers Association launched a digital advertising campaign designed to help consumers facing financial challenges as a result of the COVID-19 pandemic and show how the mortgage industry is helping consumers through the coronavirus pandemic.