MISMO®, the real estate finance industry standards organization, seeks public comment on a new set of enhanced work products created by the Closing Instructions Development Workgroup, designed to create a common format for closing instructions.
Category: News and Trends
Francesco Paola of Mozaiq.ai: How Intelligent Automation Helps Lenders Win
Lenders are squeezed on both sides – the need to improve loan profitability and at the same time ensure that their loan quality meets the new compliance criteria. Make no mistake, these two are related—compliance directly impacts profitability (and the lender’s reputation).
Vote: MBA.org Finalist for Website of the Year
mba.org has been chosen as one of three finalists for the 2023 Sitefinity Website of the Year Awards. MBA members can vote to ensure mba.org is the winner.
Christy Moss, CMB, of FormFree: It’s Time to Stop Punishing Borrowers with Outdated Underwriting
Tthere is nothing inherently wrong with traditional credit scoring models. In fact, they are excellent tools for gaining insight into consumers’ repayment history. However, there is a problem with the way they are treated as the end-all-be-all mortgage underwriting metric.
MBA: IMBs Report Pre-Tax Net Production Losses in 1Q
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $1,972 on each loan they originated in the first quarter, an improvement from the reported loss of $2,812 per loan in the fourth quarter, the Mortgage Bankers Association reported Thursday.
Quote: May 22, 2023
“The improper application of Davis-Bacon wage rates is an unnecessary barrier to the modernization and development of multifamily housing, and this bill will help reduce the administrative burden and complexity for residential housing projects.”
–Bill Killmer, MBA Senior Vice President of Legislative and Political Affairs, on Senate legislation introduced Friday that would make targeted reforms to Davis-Bacon Act requirements.
Elevating Your Quality Quotient, Part II: Mortgage Servicing Post-Pandemic
Regulations offer guardrails, but rebuilding trust is key to a vibrant mortgage servicing industry. The hurdles of the Great Financial Crisis have been largely overcome and the COVID-19 Pandemic National Emergency was formally decreed behind us on April 10. So, what does the marketplace for servicing look like today and what aspects of servicing could look different in the future?
Why You Should Participate in MBA Residential Committees, Councils and Networks
The Mortgage Bankers Association has more than three dozen opportunities for participation on MBA residential committees, councils and networks, to formulate policy, connect with colleagues and further the success of the real estate finance industry.
CBRE: Office Attendance Changes Prompt Companies to Revamp Office Portfolios
More companies now require office attendance than a year ago, causing them to change their office footprint to match office attendance patterns, reported CBRE, Dallas.
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.