MISMO®, the real estate finance industry’s standards organization, today announced that the industry standard dataset mapping for several pre-closing and closing datasets , including Fee Sheet, ALTA CPL, ALTA Title Commitment, and Endorsements, have achieved “Candidate Recommendation” status, which means they have been thoroughly reviewed by a wide range of organizations and industry participants and are available for use across the industry.
Category: News and Trends
SAP Fioneer: How Lenders Can Reimagine Mortgages by Using ERPs (Sponsored Content)
The mortgage is changing. Fast. But, says SAP Fioneer’s David Bomser, sometimes you have to go backwards to truly go forwards.
New Home Sales Jump
Sales of new single‐family houses jumped in September to a seasonally adjusted annual rate of 759,000, the U.S. Census Bureau and the Department of Housing and Urban Development reported Wednesday.
Quote: Oct. 26, 2023
“Although there was a modest improvement in affordability last month, higher rates and low housing inventory are both keeping many would-be buyers out of the housing market.”
–Edward Seiler, MBA’s Associate Vice President, Housing Economics, and Executive Director, Research Institute for Housing America
Breaking Advocacy Update: Federal Banking Agencies Issue Final Rule on the Community Reinvestment Act
Yesterday, the Federal Reserve Board, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. released a final rulemaking to reform and align each agency’s Community Reinvestment Act (CRA) framework that depository banks must comply with.
Milliman’s Ryan Huff: Does Loan Modification Help Borrowers?
With low levels of affordability, forbearance may not be sufficient to prevent future mortgage defaults and foreclosures, and alternative loss mitigation options may be required to help borrowers retain home ownership. Questions often asked in the industry on this topic are: what type and how much loss mitigation is required to prevent redefault?
RE/MAX: Inventory Grows for Sixth Straight Month While Sales Decline
The number of homes on the market grew month-over-month for a sixth consecutive month in September as sales declined 13.8% from August and 17.0% from a year ago, reported RE/MAX, Denver.
Dealmaker: Marcus & Millichap Closes Two Dallas-Area Multifamily Sales for $40M
Marcus & Millichap, Calabasas, Calif., closed the sale of two apartment properties in Dallas and Fort Worth, Texas. The assets total 401 units and sold for over $40 million.
Quote: Oct. 25, 2023
“Mortgage activity continued to stall, with applications dipping to the slowest weekly pace since 1995. These higher mortgage rates are keeping prospective homebuyers out of the market and continue to suppress refinance activity.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist.
MISMO Releases Four New Closing Dataset Specifications
MISMO®, the real estate finance industry’s standards organization, today announced that the industry standard dataset mapping for several pre-closing and closing datasets , including Fee Sheet, ALTA CPL, ALTA Title Commitment, and Endorsements, have achieved “Candidate Recommendation” status, which means they have been thoroughly reviewed by a wide range of organizations and industry participants and are available for use across the industry.