The Mortgage Action Alliance, the Mortgage Bankers Association’s free grassroots advocacy network, extended its fifth annual Action Week to the end of the month, through May, following a successful campaign that has seen its membership nearly double since February.
Category: News and Trends
Housing Market Shows Early Signs of Recovery, Even Where COVID-19 Has Not Peaked
Redfin, Seattle, said new listings and home sales are seeing early signs of recovery in U.S. housing market, even as some cities struggle to flatten the coronavirus curve.
MBA: Share of Mortgage Loans in Forbearance Increases to 7.91%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased from 7.54% of servicers’ portfolio volume in the prior week to 7.91% as of May 3. MBA now estimates 4 million homeowners are now in forbearance plans.
MBA: Share of Mortgage Loans in Forbearance Increases to 7.91%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased from 7.54% of servicers’ portfolio volume in the prior week to 7.91% as of May 3. MBA now estimates 4 million homeowners are now in forbearance plans.
MBA Premier Member Profile: Richey May
Richey May, Englewood, Colo., is an accounting and business consulting firm, focused on the mortgage banking industry. Our diverse offerings include Audit, Tax, Accounting, Business Advisory and Technology Consulting. Founded in 1985, our specialized approach allows us to serve our clients at a high level, with many service leaders holding previous experience at mortgage companies.
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: Payroll Employment Changes
This week’s MBA Chart of the Week focuses on Friday’s grave employment report from the Bureau of Labor Statistics. The COVID-19 crisis has hit employment and household income in an unprecedented and accelerated fashion.
MBA Education Path to Diversity Scholar Profile: Jina Choi
Jina Choi is Vice President of Enterprise Innovation with loandepot.com
Scott Roller: Remote Online Notarization – Navigating the Icebergs
Necessity is the mother of all invention, so the saying goes. No, not exactly true here. RON was already being deployed in pockets across the industry pre-coronavirus. Therefore, its more appropriate to proclaim, “perplexing problems produce instant popularity where past procrastination persisted.” Said more plainly – nothing is more white-hot than RON right now, and everyone suddenly cannot live without it. Demand far-outstrips supply by a factor too large to contemplate.
Matt Clarke: How Technology Can Enhance Borrower’s Experience by Supporting Lender
As the industry becomes increasingly digital, mortgage professionals must find a way to survive and keep up with demand at rapid speed. Unfortunately, the latest and greatest technology comes at a price. To truly succeed, mortgage professionals need to determine strategies that reduce expenses while offering a convenient relationship-based mortgage experience for borrowers.