The MBA Coronavirus Resource Center includes information from health/disease control agencies, recommended business continuity plans, relevant information from financial regulatory agencies, as well as guidance on how companies should communicate with employees, their customers and the public.
Category: News and Trends
ARMCO: Critical Defect Rate Drops 9%
ACES Risk Management, Denver, said the overall critical defect rate reached 1.56% in the third quarter, to the lowest defect rate since 2016.
Home Buyers Have More Purchasing Power, But Face Inventory, Coronavirus Headwinds
A dramatic drop in mortgage interest rates, driven by coronavirus fears, has given homebuyers a big boost in purchasing power in recent weeks, according to an analysis from Redfin, Seattle.
Portfolio Risk Management: Repurchase Risk for Non-QM Mortgages
In the wake of the 2008 global financial crisis, many risk managers in the mortgage issuance industry were caught flat-footed with representations and warranties exposure, also commonly known as repurchase exposure.
Todd Sheinin: For Loan Officers, Integrating Right Technology Key to Borrower Experience
Today’s loan officers and branch managers face many challenges–from cumbersome, time-consuming processes to difficulties connecting with borrowers, and lenders have made significant investments in technology to help. However, many are learning that a siloed technology approach or implementation of the wrong technology can cause more headaches than it solves.
House Committee Asks Regulators, Financial Institutions to Report on Coronavirus Actions
House Financial Services Committee Chair Maxine Waters, D-Calif., sent a letter to Administration officials, regulators and financial services organizations (including MBA President and CEO Robert Broeksmit, CMB, and credit reporting agencies expressing concerns about risks related to the coronavirus pandemic and steps they are taking to prevent Americans and the financial system from being harmed.
MISMO Proposes Updates to Industry Loan Application Dataset
MISMO, the mortgage industry standards organization, today released proposed updates to the Industry Loan Application Dataset, its modernized dataset for the exchange of loan application data.
People in the News
Hines, Houston, promoted Laura Hines-Pierce to Senior Managing Director – Office of the CEO. She will work alongside President and CEO Jeff Hines to help shape firmwide strategy and manage key risks.
MBA Doubles 2020 Refinance Forecast
The Mortgage Bankers Association this week issued its revised Mortgage Finance Forecast and Economic Forecast, in which MBA doubled its previous 2020 refinance mortgage originations projections.
MBA Updates Coronavirus Resource Center; House Committee Asks MBA for Input on COVID-19 Consumer Protections; MBA Coronavirus Webinar Today
It seems the only thing moving faster than COVID-19 itself—now classified as a pandemic by the World Health Organization—is news about the coronavirus. Here is a quick update from the Mortgage Bankers Association: