“Multifamily borrowing remained strong in 2022, largely as a result of lending by banks. Beginning in last year’s third quarter, rising and volatile interest rates, uncertainty about property values, and questions about some property fundamentals led to a fall off in borrowing and lending across commercial property types, including multifamily.”
–MBA Head of Commercial Real Estate Research Jamie Woodwell
Imagine expecting your favorite college football team to win a national championship with a roster comprised of only 4% scholarship players and 96% walk-ons. The scholarship investment isn’t equal to the expected outcome. The same can be said for the mortgage industry’s attitude toward technology, especially when it comes to lowering the cost to originate.
Every mortgage lender is dealing with increased fraud and risk, especially as interest rates have skyrocketed to 7%. These challenges inevitably lead to increased losses, as profitability for mortgage lenders …
FundingShield, Newport Beach, Calif., reported wire and title fraud concerns persist at high levels so far this year, finding 50.2% of loans on a $68 billion portfolio in the second quarter had at least one risk issue.
ATTOM, Irvine, Calif., reported nearly half–49%–of mortgaged residential properties in the United States were considered equity-rich in the second quarter, up from 47% in early 2023.
The Mortgage Bankers Association published a progress report on MBA 2023 Chair Matt Rocco’s priority, Affordable Rental Housing Strategy: Expanding Affordable Rental Housing Opportunities.
Industry briefs from LenderLogix, Snapdocs, Down Payment Resource and Guaranteed Rate.
MBA NewsLink interviewed Mohammad Rashid, Senior Vice President and Head of Fintech Innovation with Tavant, and Chad Whittenberg, Vice President of Strategy, Product and Marketing with Equifax Workforce Solutions, about how technological advances have completely changed how mortgage lenders conduct business.
Gantry, San Francisco, secured a $17 million permanent loan to retire bridge financing for Village Center, a neighborhood retail center located at 17900 Magnolia Street in Fountain Valley, Calif.
This week’s top legislative and policy news from the Mortgage Bankers Association.
