MISMO®, the real estate finance industry standards organization, issued a call for participants to join a new development workgroup focused on creating standards for Electronic Home Equity Lines of Credit
Category: News and Trends
Quote: Apr. 17, 2023
“Rents are falling, but it feels more like they’re just returning to normal, which is healthy to some degree. You can say egg prices are plummeting, but what’s really happening is they’re finally making their way back to the $3 norm instead of $5 or $6. Rents ballooned during the pandemic, and are now returning to earth.”
–Dan Close, a Redfin real estate agent in Chicago, where the median asking rent in March was 9.2% lower than a year earlier.
Industry Briefs Apr. 17, 2023: FHA Extends COVID-19 Forbearance, HECM Extension Policies through May 31
The Federal Housing Administration published Mortgagee Letter 2023-08: Extension for COVID-19 Forbearance and COVID-19 Home Equity Conversion Mortgage Extensions, setting May 31 as the final date for borrowers requesting a COVID-19 forbearance or a COVID-19 Home Equity Conversion Mortgage Extension.
Maureen Townson of Enact: Keeping Homebuyer Education Current and Relevant for Borrowers
April is Financial Literacy Month. As mortgage professionals, we have the opportunity – and responsibility – to educate borrowers about homeownership from beginning the homebuying process to discussing what happens after the loan closes.
People in the News Apr. 17, 2023: CONVERGENCE Memphis Names Doreen Graves Executive Director
CONVERGENCE Memphis Inc. named Doreen Graves Executive Director, responsible for leading efforts to strengthen ties within the local Memphis community to promote affordable housing and increase Black homeownership.
Ask the Expert with Monica Bolin of Ncontracts: How to Draft Risk Assessments
Creating the most effective risk assessments involves a combination of research, analysis, experience and collaboration. Monica Bolin is a risk management expert with Ncontracts and former chief risk officer with more than three decades of experience in the banking industry.
Augie Del Rio of Gallus Insights: It’s THE Mortgage Great Depression, and We’re Flying Under the Perfect Storm
I am a big fan of metaphors, and it is no exaggeration to say the mortgage industry is currently flying under the perfect storm with no sunshine or improved conditions in sight.
Souren Sarkar, CMB, of Nexval: What Recent Flight Fiascos Can Teach Us About Investing in Technology
If mortgage servicers ever needed an argument to not hold back on technology investments, they need look no further than the recent fiascos in the airline industry.
MISMO Seeks Members for New eHELOC Development Workgroup
MISMO®, the real estate finance industry standards organization, issued a call for participants to join a new development workgroup focused on creating standards for Electronic Home Equity Lines of Credit
Cushman: Now is the Time to Fight Climate Change
As sea levels rise, the reality of climate change’s impact on the commercial real estate industry is becoming clearer, reported Cushman & Wakefield, Chicago.