“Borrowing and lending backed by commercial and multifamily properties started 2022 strong but then dropped off because of rising interest rates, uncertainty about property values and increased questions about the economy and some property fundamentals.”
–Jamie Woodwell, MBA Head of Commercial Real Estate Research.
Mortgage applications increased 5.3 percent from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending April 7, 2023.
MISMO®, the real estate finance industry standards organization, seeks public comment on the new Data Governance and Management Program Implementation Resource Package, which includes a series of templates, guides and educational resources that can be used to establish a data governance and management program within an organization.
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.
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.
Given the downturn in mortgage volume and the exploding cost to originate, Fannie Mae’s announcement comes at a time when QC departments may be much leaner than they were the year before. However, lenders can ill afford to ignore these changes, and compliance may mean investing in automation despite declining profitability.
While credit reports continue to provide an indication of credit history and past financial behaviors, reviewing various forms of differentiated data sets, such as telecommunications (telco), pay TV and utilities insights, can help provide greater visibility into a borrower’s financial profile and increase opportunities for homeownership for more than 191 million American consumers
As Executive Vice President and Chief Information Officer of Mortgage Connect, LP, a PIttsburgh-based IT company that supports lenders, servicers and institutional investors, Gabr Minton is engaged on the frontline of transforming the mortgage industry into a seamless digital experience for lenders and their customers. He’s also a recipient of an MBA NewsLink 2023 Tech All-Star award.
Taking lessons from literature and history, the continuation of 30-years of banking business and operating models are rapidly expiring. Pierced by a permanent transformation to data-driven intelligence, recent systemic failures, and technological progressions bankers need to accept that the era of apps mindsets has ended—data-as-a-product (#DaaP) solves many current and future requirements.
Mortgage applications increased 5.3 percent from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending April 7, 2023.
