FundingShield, Newport Beach, Calif., reported that wire and title fraud risk dropped somewhat from record-breaking levels hit in the fourth quarter of 2023, but 48% of loans processed in the quarter still exhibit at least one risk factor.
Category: News and Trends
Quote: April 24, 2024
“Higher interest rates, uncertainty about property values and questions about some properties’ fundamentals led to a steep fall-off in borrowing and lending backed by commercial real estate last year.”
–Jamie Woodwell, MBA’s Head of Commercial Real Estate Research
Tim Nguyen From BeSmartee–AI: One Bite at a Time
While AI is all the hype right now, AI as a field dates back to 1956, marked by the Dartmouth Conference that brought together researchers interested in neural networks, the theory of computation and automating intelligence.
MBA Statement on HUD’s Federal Flood Risk Management Standard Final Rule
MBA President and CEO Bob Broeksmit, CMB, released the following statement regarding the Department of Housing and Urban Development’s Federal Flood Risk Management Standard final rule:
MBA Legal Issues and Regulatory Compliance Conference May 5-8
Navigate the evolving market with trusted insight. Join us in San Diego May 5-8 for MBA’s Legal Issues and Regulatory Compliance Conference, the premier event for legal and compliance professionals in real estate finance.
Dealmaker: Calmwater Capital Originates $12M for California Retail Property
Calmwater Capital, Los Angeles, provided Irvine, Calif.-based West Hive Capital with $12.25 million in short-term first mortgage debt for a neighborhood retail property in Rancho Palos Verdes, Calif.
MBA: Share of Mortgage Loans in Forbearance Remains at 0.22% in March
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance remained unchanged at 0.22% as of March 31, 2024.
Industry Leader John B. Johnson Passes Away
John B. Johnson passed away last week at 84. He was a long-time leader in the industry and co-founder and CEO of MortgageAmerica Inc. from 1978 to 2012.
Quote: April 23, 2024
“John Johnson was an exemplary leader among independent mortgage bankers and for the MBA and its Alabama association. He was a consummate gentleman and a tenacious advocate for our industry, nurturing personal and professional relationships with key elected representatives to advance our issues. He will be sorely missed.”
–MBA President and CEO Bob Broeksmit, CMB
MBA Chart of the Week–Multifamily: Rents Reverting
The pandemic did a number on the housing market.