Arbor Realty Trust, Uniondale, N.Y., released its Affordable Housing Trends Report for Fall 2023, finding that utilization of the 4% Low-Income Housing Tax Credit has reached a new high, among other notable takeaways.
Category: News and Trends
Industry Briefs Nov. 21, 2023
Industry news from Entrust, Dovenmuehle, LodeStar, nCino Mortgage Suite, CUSO Home Lending and Dark Matter.
Quote: Nov. 21, 2023
“For the first time since MBA began tracking the reasons for forbearance in October 2022, temporary hardships such as job loss, death and divorce represent a larger share of loans in forbearance by reason than a COVID-19 hardship. This upward trend will continue, as Fannie Mae and Freddie Mac sunset the use of COVID-19 as a reason for delinquency starting in November 2023, and FHA’s COVID-19 forbearance period ends at the end of November 2023.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
Nov. 21: NMLS Mortgage Call Report (MCR) Version 6 – What You Need to Know
The implementation of the NMLS Mortgage Call Report carries with it many changes for all MCR filers. Preparing to implement MCR Version 6 on a short timeline is an enormous challenge. Join MBA Education and industry experts from the Conference of State Bank Supervisors for tips and best practices for implementation.
MBA Advocacy Update Nov. 20: Broeksmit Criticizes Bank Capital Proposal; FHA Annual Report to Congress
This week’s top legislative and policy news from the Mortgage Bankers Association.
October Housing Starts Exceed Expectations
Housing starts rose in October to a seasonally adjusted annual rate of 1.37 million, exceeding the consensus expectation of 1.35 million.
Dealmaker: JLL Announces $260M Refinancing for New York Times Square Hotel
MCR Hotels, Island Capital Group and JLL, Chicago, announced MCR and Island closed on a $260 million refinancing of the Sheraton New York Times Square.
Quote: Nov. 20, 2023
“Builders have been benefitting from the lack of resale inventory and from their ability to use incentives such as mortgage rate buydowns to entice buyers off the sidelines.”
–First American Deputy Chief Economist Odeta Kushi
MBA Newslink Premier Member Profile: FormFree
(One in a continuing series of profiles of Premier Members of the Mortgage Bankers Association.)
FundingShield: Concerns of Wire, Title Fraud Still High in Q3
FundingShield, Newport Beach, Calif., reported risks of wire and title fraud remained high in third-quarter data, although fairly flat from the previous quarter.