With mortgage rates at their highest level since November 2022 and costs for everything from home insurance to maintenance still elevated, mortgage servicer customers are feeling strained, reported J.D. Power, Troy, Mich.
Category: News and Trends
Amber Rao, Marcy Thomas Discuss MBA’s COMBOG DE&I Council
Amber Rao, CCIM, Vice President with KeyBank Real Estate Capital, and Marcy Thomas, CCIM, CCMS, Vice President, Portfolio Loan Manager with Grandbridge Real Estate Capital, sat down with MBA NewsLink to discuss MBA’s COMBOG DE&I Council.
Dealmaker: Eastern Union Secures $8.8M for Baltimore-Area Office Complex
Eastern Union, New York, arranged $8.8 million in financing for the purchase of an office complex in Nottingham, Md., near Baltimore.
Industry Briefs Aug. 4, 2023
CBC Mortgage Agency Adds USDA Loans CBC Mortgage Agency, South Jordan, Utah, announced it has been approved by the U.S. Department of Agriculture to provide 30-year mortgage loans for borrowers …
Dale Larson III from Modex: Loan Officers, Are You Leveraging These 5 Strategies for Success Right Now?
As we’ve collectively moved through the turbulence of a post-pandemic market, we’ve found ourselves in the middle of a market correction. Loan officers are feeling the effects just about everywhere. Consumer behaviors are changing, and so are the types of products they need.
Homeowner Housing Vacancy Rate Dips YoY; Rental Vacancy Rate Increases
The Census Bureau, Washington, D.C., said the homeowner vacancy rate fell slightly in the second quarter compared to a year ago while the rental vacancy rate increased.
MISMO’s Jan Davis Honored with HousingWire’s Women of Influence Award
MISMO®, the real estate finance industry’s standards organization, announced that Jan Davis, Vice President of Operations, has been recognized as a 2023 HousingWire Women of Influence award recipient.
Quote: Aug. 4, 2023
“14% of producing loan officers changed employers and almost 12% left the industry entirely in the last year. Put everything together, and one thing is clear: LOs are facing one of the most significant challenges the market has seen since 2008.”
–Modex Founder and CEO Dale Larson III
MBA Forecast: Higher Rates, Uncertainty to Slow Commercial/Multifamily Lending
Total commercial and multifamily mortgage borrowing and lending is expected to fall to $504 billion this year, a 38 percent decline from 2022’s $816 billion total. This is according to an updated baseline forecast released by the Mortgage Bankers Association.
Early Registration Ends Next Week: MBA Compliance and Risk Management Conference in DC Sept. 10-12
Compliance officers and inside and outside counsel will find the content they know and trust at the Mortgage Bankers Association’s Compliance and Risk Management Conference.