CoreLogic, Irvine, Calif., said mortgage delinquencies fell in February from January but rose slightly from a year ago.
Category: News and Trends
First Quarter GDP Slows to 1.1%
The U.S. economy marked its slowest growth in nearly a year, the Bureau of Economic Analysis reported Thursday.
Zillow: More Buyers Purchasing Mortgage Points to Ease Monthly Costs
An analysis of Home Mortgage Disclosure Act data by Zillow Home Loans, Seattle, found nearly 45% of conventional primary home borrowers opted to purchase mortgage points in 2022 as a way to reduce their monthly payment.
Declines Persist in Institutional Property Values
The National Council of Real Estate Investment Fiduciaries, Chicago, said its quarterly Property Index showed aggregate market values of properties declined for the third straight quarter; returns were negative for the second straight quarter.
Dealmaker: Gantry Secures $12 Million for Seattle Office
Gantry secured an $11.7 million permanent loan to refinance a ground lease supporting a Class A office building in Seattle’s Fremont neighborhood.
Veronica Nguyen of BeSmartee: Marketing Mistakes Lenders Make
Marketing is a critical aspect of any successful business, and it’s essential to understand the steps involved in attracting and retaining customers. In times when mortgage volume is down, marketing departments need to execute a strategy that not only attracts new customers but one that can retain those customers as well.
Quote: Apr. 28, 2023
“We forecast a short recession in the coming quarters, as these tighter financial conditions exert a drag on consumer and business activity through tighter lending conditions and higher rates. This will cause the unemployment rate to rise and gradually lower inflation closer to the Fed’s 2 percent target by the end of 2024.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
MBA: March Mortgage Application Payments Increase 1.6 Percent to Record High
Homebuyer affordability declined in March, with the national median payment applied for by purchase applicants increasing 1.6 percent to $2,093 from $2,061 in February, the Mortgage Bankers Association reported Thursday.
MBA Education Path to Diversity Scholar Profile: Ashley Puckett
Ashley Puckett is Senior Capital Markets Analyst with Vellum Mortgage, an independent mortgage bank in Fairfax, Va. She began in the industry in September 2011 as a Loan Processor. From there she moved into Post Closing for a few years, then in Secondary Marketing, “which I love.”
Scott Kriss of Kriss Law/Atlantic Servicing & Escrow on Why Lenders Should Pay More Attention to the Title Business
Scott Kriss grew up in New England as the son of two small business owners. When he founded his law firm, Kriss Law, in suburban Boston in 2004, he didn’t immediately foresee that it would grow to become a national title and closing services provider with the aid of its sister business, Atlantic Closing & Escrow.