MISMO®, the real estate finance industry standards organization, seeks public comment on Version 2.1 of the SMART Doc® 1.02 Standardization Mapping and Implementation Guide. The 60-day public comment period runs through July 5.
Category: News and Trends
MBA Home For All Pledge Partner: Equifax Mortgage & Housing
“The Home for All Pledge doubles down on Equifax’s continued commitment to financially inclusive lending and helping to provide the opportunity for people to live their financial best.”
Toby Wells of Cornerstone Servicing on Customer Retention and Technology
Toby Wells has more than 25 years of experience in servicing, originations, capital markets and asset management. He currently serves as president of Cornerstone Servicing, Englewood, Colo., a division of Cornerstone Capital Bank SSB, Houston, a provider of mortgage servicing platforms designed to empower healthy, sustainable homeownership. He can be reached at twells@cornerstoneservicing.com.
Quote: May 5, 2023
“Home equity has fallen modestly amid a larger slump in profits homeowners are getting when they sell. It’s still too early to call this a long-term trend, and there are reasons to hope for a market turnaround this year. For now, though, various measures suggest that the best of the boom may be behind us.”
–Rob Barber, chief executive officer with ATTOM, Irvine, Calif.
Home Equity Falters as Housing Market Remains Stalled
ATTOM, Irvine, Calif., released its first-quarter U.S. Home Equity & Underwater Report, showing 47.2 percent of mortgaged residential properties in the United States were considered equity-rich in the first quarter, down slightly from 48 percent in the fourth quarter.
Industry Briefs May 4, 2023: Peak Residential Lending Partners with LenderLogix
LenderLogix, Buffalo, N.Y., announced Peak Residential Lending implemented its application suite – LiteSpeed, QuickQual and Fee Chaser – into its existing tech stack to power a digital borrower experience.
Jon Wierks of First American Data & Analytics on the Future of AVMs
Jon Wierks heads development of valuation analytics for First American Financial Corp., Santa Ana, Calif., including the company’s automated valuation models. He has played a role in developing many of the industry’s most commercially successful AVMs for the past 25 years.
MBA Welcomes Its New Members
The Mortgage Bankers Association welcomed the following new members in April:
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.
Casey Cunningham of XINNIX on Why Today’s Mortgage Downturn is Best Time to Upskill
The current mortgage industry downturn, while extremely challenging, is also an opportunity for banks to upskill for the future, says Casey Cunningham, CEO/Founder, XINNIX. Specifically, she recommends that leaders use this time to re-evaluate their approach to sales, and potentially discover exciting new paths to growth.