MBA NewsLink spoke with Joseph Camerieri of Mortgage Cadence about the mortgage landscape after the Black Knight/ICE merger, and what it will take to succeed in such an environment.
Category: News and Trends
Dealmaker: Institutional Property Advisors Brokers $112M Multifamily Sale
Institutional Property Advisors, Calabasas, Calif., brokered the $112 million sale of Aiya, a 360-unit multifamily asset in Gilbert, Ariz.
MBA Chart of the Week: Selected Indexes of Housing Costs
The monthly cost burden of purchasing a new home, as interest rates and house prices rose precipitously in 2022, continued in the first few months of 2023. For example, MBA’s Purchase Applications Payment Index (PAPI), hit a new high in May. Since then, despite 30-year mortgage interest rates eclipsing 7%, the index has come down slightly as median loan application amounts moderated. We are, however, still in record territory as shown by the solid green line in this week’s chart.
FHFA: GSEs Completed 47,370 Foreclosure Prevention Actions during Second Quarter
Fannie Mae and Freddie Mac completed 47,370 foreclosure prevention actions during the second quarter, raising the total number of homeowners helped to 6.8 million since the conservatorships started in 2008, the Federal Housing Finance Agency reported.
People in the News, Sept. 22, 2023
Freddie Mac CEO Michael DeVito announced he will retire from the post in the first quarter of 2024.
ATTOM: Home Flipping Drops in Q2
ATTOM, Irvine, Calif., found home flipping activity fell in the second quarter.
Snapdocs Survey: eClosing Tech Investment Outpaces Adoption
Digital closing provider Snapdocs, San Francisco, conducted a survey on lenders’ use of eClosing technology. It found that 74% of lenders have invested in the tech, but only 28% of those offering such services have achieved an adoption rate over 60%.
Industry Briefs Sept. 25, 2023
Industry briefs from Black Knight, Grid151 and Land Gorilla.
Quote: Sept. 25, 2023
“Fortunes for investors who flip homes for quick profits are showing more signs of turning around after a long and unusual period when they went down while the rest of the market went up.”
–Rob Barber, CEO for ATTOM
MortgageRight and Advantage Systems: Real World Applications for Real-Time Data, A Branch Manager’s Perspective
The challenge for many lenders today is actually one of “data overload” as they work to convert “available” data into “actionable” data.