The homeownership gap between Black and white Americans is wider today than in 1960 when housing discrimination was legal. To look at the mechanisms behind this shocking stat in one community, CONVERGENCE Columbus surveyed local loan originators and real estate agents for their thoughts on how to increase Black homeownership. Our findings were enlightening and offer lenders everywhere four important lessons for supporting homeownership equity.
Category: News and Trends
Mark P. Dangelo: Banking Lessons–‘Beware the Ides of March’
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.
MBA NewsLink 2023 Tech All-Star: Christina Randolph of Freddie Mac
Randolph is a senior director in Freddie Mac’s Single-Family business where she leads a team tasked with ensuring industry software providers and lenders are optimizing the use of Freddie Mac’s digital tools and capabilities. She’s also an MBA NewsLink 2023 Tech All-Star Award recipient.
Sharon Reichhardt of ACES Quality Management: Spring Your QC Forward or Fall Behind Fannie Mae’s New Requirements this September
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.
Sponsored Content from Equifax: The Potential Positive Impact of Telecommunications, Pay TV and Utility Payment Data on Mortgage Lending
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
March Mortgage Credit Availability Posts Modest Increase
Mortgage credit availability rose in March after falling to a 10-year-low in February, the Mortgage Bankers Association reported Tuesday.
KBRA: Lodging Loan Performance Clouded by Upper-Upscale Chains
U.S. hotels have performed well overall since the pandemic, but upscale properties report higher commercial mortgage-backed securities delinquencies than more modest hotels, reported KBRA, New York.
Dealmaker: Berkadia Arranges $87M for Office, Multifamily
Berkadia, New York, arranged $87 million in debt and equity for a Florida office property and an Arizona apartment community.
Housing Market Roundup, Apr. 11, 2023
Here is a quick summary of housing market stories that have recently come across the MBA NewsLink desk:
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.