As the mortgage market continues to evolve, mortgage servicers face new challenges and opportunities. A solid understanding of the latest industry trends, economic outlook, and regulatory requirements is essential for success in this competitive landscape.
Category: News and Trends
MBA Advocacy Update May 22, 2023
Last week, MBA filed a joint amicus brief with the Supreme Court in Community Financial Services Association v. Consumer Financial Protection Bureau, where CFSA is challenging the constitutionality of the Bureau’s funding structure.
Apartment Asking Rents Climbing at Slightly Subdued Pace
Zillow, Seattle, reported apartment asking rents climbed by 0.6%, or $12, from March to April, bringing the Zillow Observed Rent Index to $2,018.
Dealmaker: Cushman & Wakefield Arranges $27M Multifamily Sale
Cushman & Wakefield, Chicago, arranged $26.6 million for The Grove at Temple Terrace, a 180-unit multifamily community in Tampa, Fla.
Senators Introduce MBA-supported Bill to Reform Davis-Bacon Rules
Sens. John Thune, R-S.D., and Jerry Moran, R-Kan., on Friday reintroduced the Housing Supply Expansion Act, legislation that would address the affordable housing shortage by making targeted reforms to Davis-Bacon Act requirements.
MBA Chart of the Week May 19, 2023: % of IMBs with Pre-Tax Net Income
Today’s Chart of the Week compares the percentage of companies in the QPR that reported positive pre-tax net income including all lines of business (e.g. production and servicing operations), versus the percentage of companies that reported positive pre-tax net income, once servicing operations are excluded.
People in the News May 22, 2023: NotaryCam Names Suzanne Singer Director of Sales and Marketing
NotaryCam, Newport Beach, Calif., appointed Suzanne Singer director of sales and marketing, responsible for leading sales and customer success efforts focusing on large strategic relationships in the mortgage and real estate sectors.
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.
The Week Ahead, May 22, 2023: MBA Secondary Conference; More Housing Reports
NEW YORK—Good morning and happy Monday! MBA NewsLink comes to you this week from the Big Apple, where the MBA Secondary and Capital Markets Conference is underway, running through Wednesday at the Marriott Marquis in Times Square.
MBA: April New Home Purchase Mortgage Applications Down 11% from March; Up 4.1% from Year Ago
The Mortgage Bankers Association said April mortgage applications for new home purchases fell by 11 percent from March but rose by 4.1 percent from a year ago.