iEmergent, Urbandale, Iowa, recently published its downgraded forecast for purchase and refi business in 2023 and 2024. MBA NewsLink asked iEmergent CEO Laird Nossuli and chief of forecasting Mark Watson to provide more context for our readers.
Category: News and Trends
MBA: Commercial, Multifamily Mortgage Debt Outstanding Increased by $37.7B in Second Quarter
The level of commercial/multifamily mortgage debt outstanding increased by $37.7 billion (0.8 percent) in the second quarter of 2023, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
MISMO Seeks Nominations for Standards Governance Committee Members by Oct. 6
MISMO, the real estate finance industry’s standards organization, seeks nominations for qualified industry professionals to serve on MISMO’s Standards Governance Committees for a two-year term beginning in January 2024. Positions are available on both the Residential and Commercial Standards Governance Committees.
Builder Confidence Drops in September, NAHB Reports
High mortgage rates are continuing to erode builder confidence, the National Association of Home Builders, Washington, D.C., reported, noting the sentiment levels dropped below the break-even measure of 50 for the first time in five months.
JLL’s Mike Ellis and Tony Lenamon Discuss CRE Valuation and Risk Advisory
MBA NewsLink interviewed JLL Value and Risk Advisory group CEO Mike Ellis and Head of Client Engagement Tony Lenamon about commercial real estate valuation and other challenges.
mPower Presents: Maintaining Inspiration and Resilience in the Current Market–Sept. 21
Join mPower for an in-depth discussion on gaining a new perspective and how to stay inspired while navigating the choppy waters of the present-day market. Participants will be given tools that will empower them to reach their peak in work and life with confidence and optimism.
Quote: Sept. 20, 2023
“Purchase applications increased for conventional and FHA loans over the week but remained 26 percent
lower than the same week a year ago, as homebuyers continue to face higher rates and limited for-sale
inventory, which have made purchase conditions more challenging.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist.
Share of Mortgage Loans in Forbearance Decreases to 0.33% in August
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 6 basis points from 0.39% of servicers’ portfolio volume in the prior month to 0.33% as of August 31, 2023. According to MBA’s estimate, 165,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 7.92 million borrowers since March 2020.
Share of Mortgage Loans in Forbearance Decreases to 0.33% in August
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 6 basis points from 0.39% of servicers’ portfolio volume in the prior month to 0.33% as of August 31, 2023. According to MBA’s estimate, 165,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 7.92 million borrowers since March 2020.
MBA: Commercial, Multifamily Mortgage Debt Outstanding Increased by $37.7B in Second Quarter
The level of commercial/multifamily mortgage debt outstanding increased by $37.7 billion (0.8 percent) in the second quarter of 2023, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.