This article will discuss the benefits re-engaging digital initiatives on a more modest scale in the current environment in order to be ready for when the market normalizes.
Category: News and Trends
Ben Teerlink of MMI: Why Outsourcing Business Intelligence is the Smart Choice
With the right partner, outsourcing can beef up expertise in a particular area without bringing on the expense of a full-time employee – a role reversal of sorts from the traditional labor shortage/cost containment use case.
Fed Raises Rates; Is That It?
The Federal Open Market Committee on Wednesday, as expected, raised the federal funds rate by another 25 basis points to its highest level since July 2007. And while it hinted this might be the final increase for a while, it left open the door for more action should economic conditions warrant.
Dealmaker: Avison Young Closes $14M Warehouse Sale
Avison Young, Toronto, represented entertainment lighting company Chauvet Lighting in the $14.2 million sale of its 61,660-square-foot warehouse at 5200 NW 108th Avenue in Sunrise, Fla.
Roundup: April Private-Sector Employment Up 296,000; Home Equity Falters as Housing Market Remains Stalled
In today’s Roundup, ADP reports April private-sector employment rose by nearly 300,000, while ATTOM says quarterly home equity lending data shows a continued drop amid a “stalled” housing market.
CMBS Delinquency Rate Dips; Offices See Increase
The commercial mortgage-backed securities delinquency rate fell slightly in March, but the segment that everyone watches closely–office–saw its rate move higher again, reported Trepp, New York.
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.
Quote: May 4, 2023
“With this increase, we expect this is the peak rate for this cycle, and potential homebuyers and their mortgage lenders may be breathing a sigh of relief. We continue to expect that mortgage rates will drift down over the course of the year as the economy slows, as we move closer to the Fed lowering rates beginning in 2024, and as financial market volatility finally begins to settle down.”
–Mike Fratantoni, Chief Economist with the Mortgage Bankers Association.
MBA Weekly Survey May 3, 2023: Purchase Apps Down; Refis Up
Overall mortgage applications fell from one week earlier, although refinance applications rose slightly as interest rates fell, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending April 28.