The popular 30-year fixed mortgage rate is loosely benchmarked to the 10-year Treasury bond. Since the end of the Great Recession, the 30-year fixed mortgage rate has on average remained 1.7 percentage points higher than the 10-year Treasury bond yield. Yet, this spread is not always consistent.
Category: News and Trends
Deadline May 26: COMBOG Call for Nominations
The MBA Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) Nominating Committee is soliciting member recommendations for individuals to serve on the Board beginning October 2023 in the Investor, Lender, Mortgage Banker and Associate categories.
Industry Briefs May 25, 2023
Industry news briefs from Freddie Mac, Foundation Mortgage Corp. and Forta Solutions.
#MBASecondary23: For Secondary Markets, a Cautious Economic Outlook
NEW YORK–Mortgage Bankers Association Chief Economist Mike Fratantoni and Nicholas Maciunas, Executive Director with JPMorgan Chase, New York, offered a cautiously optimistic but guarded economic outlook here at the Mortgage Bankers Association’s National Secondary Market Conference & Expo.
Hassan Rashid of Tavant: Rising Mortgage Rates and the Paradigm Shift of Digital Lending
In the ever-changing landscape of the mortgage industry, adaptability and technological innovation have become crucial for lenders seeking success in the current market. As mortgage rates fluctuate and homebuyers exercise caution, lenders must pivot their strategies and embrace digital lending solutions to drive business excellence.
MBA Weekly Survey May 24, 2023: Mortgage Applications Decrease
Mortgage applications fell again last week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending May 19.
#MBASecondary23: How the FHLBs are Evolving in a Changing Market
NEW YORK–Not everyone can become a member of the Federal Home Loan Bank System—just ask most independent mortgage banks.
MISMO Emerging Technology Workgroup to Focus on AI at Spring Summit
MISMO®, the real estate finance industry’s standards organization, announced that its Emerging Technologies Community of Practice will begin discussions focused on impacts of Artificial Intelligence within the mortgage finance industry. The discussions will take place at the MISMO Spring Summit in Portland, Ore., June 5-8, 2023.
Seth Sprague, CMB, of Richey May: Now’s the Time to Prepare for FHFA/Ginnie Mae Rules Changes for Non-Bank Servicers
On August 17, 2022, the Federal Housing Finance Agency and Ginnie Mae jointly announced updated minimum financial eligibility and capital rules for seller/servicers and issuers. These changes update the capital and financial eligibility requirements for non-bank servicers that have been modified over the past year. Understanding the new requirements is critical for seller/servicers and issuers to maintain compliance; however, these changes also raise potential strategic and operational challenges in the future.
Terrell Cassada of LoanLogics: Real Secondary Market Loan Confidence Happens from Within
New technologies, including AI, machine learning tools and rules-driven workflow, are finally being applied to the loan production process with gusto. Real results are being achieved through automation that drives fewer underwriting touches and exposes quality issues earlier in the production process. And now the secondary market—one of the last remaining components of loan manufacturing still awash in spreadsheets, manual processes, and data inconsistencies—is finally getting its turn at bat.