The Consumer Financial Protection Bureau and three other federal agencies on Tuesday issued a joint statement cautioning financial firms that use of artificial intelligence could increase risk of bias and civil rights violations.
Category: News and Trends
MBA Weekly Survey Apr. 26, 2023: Spring Season Slowly Kicks into Gear
With the spring home-buying season well underway, mortgage activity picked up last week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending April 21.
Consumer Confidence at 6-Month Low
The Conference Board, New York, said its Consumer Confidence Index fell to its lowest level since last November.
Home Prices Slow for 10th Straight Month
Home price appreciation slowed for the 10th straight month, according to reports from S&P Down Jones Indices and the Federal Housing Finance Agency.
With Homeowners Sitting, Buyers Turn to New Homes
March new home sales jumped by nearly 10 percent from February, HUD and the Census Bureau reported Tuesday, as home buyers turned away from existing home sales.
Dealmaker: Newmark Completes L.A. Office Sales For $157M
Newmark, New York, completed two separate downtown Los Angeles office property sales that totaling $157 million.
KBRA Finds Challenging Single-Family Rental Fundamentals
Softening operating performance, elevated inflation, labor shortages and decelerating rental rates have produced the most challenging environment for the single-family rental sector yet, reported KBRA, New York.
Quote: Apr. 26, 2023
“Both conventional and government home purchase applications increased last week. However, activity was still nearly 28 percent below last year’s pace, as high mortgage rates and low supply have slowed the market this year, even as home-price growth has decelerated in many markets across the country.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
Scott Kriss of Kriss Law/Atlantic Servicing & Escrow on Why Lenders Should Pay More Attention to the Title Business
Kriss Law/Atlantic Closing & Escrow has become one of the highest-volume title insurance and closing providers in the nation. With ventures, partnerships and business transactions ranging from residential to commercial across the country, he has ta business with local expertise at a national level.
MBA Education/MISMO Webinar May 1: Timeline and Updates for FHFA Credit Scoring Changes
MBA Education and MISMO hold a timely webinar, Timeline and Updates for FHFA Credit Scoring Changes, on Monday, May 1 from 1:30-2:30 p.m. ET.