Industry briefs from Mortgage Capital Trading, Truv, CoreLogic, SimpleNexus and ATTOM.
Category: News and Trends
MISMO Launches Private Label RMBS Specification, Implementation Guide
MISMO, the real estate finance industry’s standards organization, announced that the Private Label Residential Mortgage-Backed Securities (PL RMBS) Specification has reached “Candidate Recommendation” status, which means that it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use across the industry.
MBA Chart of the Week June 26, 2023: Annual Origination Counts
2020 and 2021 were record setting years with $4.11 trillion and $4.44 trillion in originations respectively, as the industry experienced record low mortgage rates and home price appreciation soared across the country.
Today: How to Leverage Document AI for Unparalleled Efficiency in Loan Production and Loan Servicing
Loan production and servicing costs are at an all time high, with back end processes contributing 49% to the overall cost increase. According to a recent Fannie Mae report, automating these back end processes could result in significant savings for lenders and servicers.
Fitch: Commercial mREIT Sector Faces Further Pressures in 2023
Fitch Ratings, New York, said commercial mortgage real estate investment trust ratings will continue to be challenged by post-pandemic occupancy rates, “with growing recessionary risks and further deterioration of commercial real estate fundamentals.”
Ksenia Potapov from First American: Millennials, Walking Around Like They Own the Place
Amid the roller coaster housing market of the past few years, National Homeownership Month presents an opportunity to examine a fundamental driver of homeownership and housing demand: demographics.
Black Knight: Past-Due Mortgages Approach Record Lows, Serious Delinquencies Continue to Improve
Black Knight, Jacksonville, Fla., reported the national delinquency rate fell 11 basis points in May to 3.1%, the lowest level it’s hit other than a record of 2.92% in March.
FHFA: More Than 6.7M Troubled Homeowners Helped During Conservatorships
Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions in the first quarter, the Federal Housing Finance Agency reported Friday.
Dealmaker: Greystone Arranges $425M Construction Loan for Residential Tower in Long Island City
Greystone, New York, arranged a $425 million construction loan for a new mixed-use development with BLDG Management Co. in Long Island City, New York.
Equifax Workforce Solutions’ Chad Whittenberg: Utilizing Instant Verifications Earlier in Mortgage Lending Cycle Provides Value to Lenders, Consumers
If lenders want to stay competitive, they must take a holistic approach that leverages relevant data at every stage of the lending process.