The House yesterday passed legislation reauthorizing the Terrorism Risk Insurance Act for seven years. The Senate Banking Committee is expected to take up a companion bill this morning.
Category: News and Trends
MBA: October New Home Purchase Applications Up 9% from September, 31.5% from Year Ago
Mortgage Bankers Association Builder Applications Survey data for October show mortgage applications for new home purchases increased by nine percent from September and by 31.5 percent from a year ago.
How Automation is Impacting Marketing
Marketing automation is the practice of using software to automate, streamline and measure repetitive tasks and workflows within the marketing discipline. It is done to help sales and marketing teams improve efficiency and increase output while providing an enhanced, more personalized customer experience.
Adjusting Your Compliance to the Digital Mortgage Landscape
When it comes to mortgages, digital is quickly becoming king. The Mortgage Bankers Association estimates that within three years, most loans will be completely underwritten electronically, with only loans that deviate from standard parameters being reviewed by experienced underwriters.
MBA Opens Doors Posts Another Record Year of Fundraising
The MBA Opens Doors Foundation announced it raised $644,000 during the Mortgage Bankers Association’s 2019 Annual Convention and Expo, held in Austin, Texas, Oct. 27-30.
Residential Briefs
Fannie Mae, Washington, D.C., said expected easing trade tensions, stimulative fiscal policies and continued consumer spending spurred an upgrade to its 2020 forecast for real GDP growth of 1.9 percent.
MBA Advocacy Update
HUD released its annual report detailing the financial condition of the FHA Mutual Mortgage Insurance Fund. And this past Tuesday, the FHFA published its semi-annual CRT Progress Report outlining the current state of the GSEs’ credit risk transfer programs, which reduce the GSEs’–and ultimately taxpayers’–exposure to mortgage credit risk.
CFPB Issues Interpretive Rule on Loan Originator Screening, Training Requirements
The Consumer Financial Protection Bureau on Friday issued an interpretive rule clarifying screening and training requirements for financial institutions that employ loan originators with temporary authority.
MBA Chart of the Week: Warehouse Lines for Loans Held for Sale
This week’s chart plots quarter-end average warehouse usage levels from inception of the MBA Warehouse Lending Survey in June 2018 through September 2019. It further compares these usage levels to MBA estimates of purchase and refinance origination volume for the respective quarters.
The Week Ahead
The Mortgage Bankers Association this morning issued a White Paper on the commercial mortgage-backed securities marketplace. For more information, see the story in this morning’s MBA NewsLink.