This week’s top legislative and policy news from the Mortgage Bankers Association.
Category: News and Trends
MBA Chart of the Week July 17, 2023: IMB Production Expenses Vs. Gross Production Expenses
In May, MBA Research released the first quarter results of its Quarterly Mortgage Bankers Performance Report (QPR). Total loan production expenses – commissions, compensation, occupancy, equipment, and other production expenses and corporate allocations – increased to a study-high of $13,171 per loan in the first quarter.
Be a DEI Champion: Deadline Aug. 4
MBA’s Diversity, Equity and Inclusion Leadership Awards recognize leading organizations who are exhibiting exemplary leadership through their impactful DEI efforts. Applications are due by August 4 at 5:00PM ET.
MBA Weekly Survey July 12, 2023: Applications Increase
Mortgage applications increased 0.9 percent from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 7, 2023.
Fitch: Office Property Performance to Worsen Amid Rising Market Pressures
Office loan performance will likely continue to weaken as market pressures build, reported Fitch Ratings, New York.
Foreclosure Activity Ticks Upward
ATTOM, Irvine, Calif., found a total of 185,580 U.S. properties with foreclosure filings–default notices, scheduled auctions or bank repossessions–between January and June, up 13% from a year ago.
Dealmaker: Mesa West Capital Lends $72M to Refinance Suburban Charleston Multifamily
Mesa West Capital, New York, provided Atlanta-based real estate investment firm Audubon with a $71.5 million first mortgage secured by The Cooper, a 344-unit multifamily community in Mount Pleasant, S.C.
MBA Opens Doors Foundation Raises Nearly $235,000 During MBA’s Chairman’s Conference
The MBA Opens Doors Foundation announced it raised $234,536 at its Annual Charity Wine Auction held during MBA’s June Chairman’s Conference in Manalapan, Fla.
July 20: Make the Most of Your MBA Membership: Level Up Your Engagement
Learn how you can leverage MBA’s resources to reach your business goals, discover new ways to fast track your access to member benefits, and meet the dedicated faces behind MBA’s Membership team who are here to support you.
Quote: July 14, 2023
“It was profoundly gratifying to see so many of my industry colleagues join together to raise nearly $235,000 to fund our mission of keeping families with critically ill or injured children in their homes while their child is in treatment. Their dedication embodies the spirit of our industry’s leadership and the Opens Doors mission.”
–Debra W. Still, CMB, Chairman of Pulte Financial Services and Chair of the MBA Opens Doors Foundation Board of Directors.