Good morning and happy Monday! We are just about one week away from the MBA National Advocacy Conference, which takes place Apr. 18-19 at the JW Marriott in Washington, D.C.
Category: News and Trends
MBA Education Path to Diversity Scholar Profile: Le Tran
Le Tran joined WEOKIE Federal Credit Union, Oklahoma City, Okla., in 1995 and currently serve as its Assistant Vice President of Mortgage Underwriting.
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.
MBA NewsLink 2023 Tech All-Star: Gabe Minton of Mortgage Connect
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.
Quote: Apr. 10, 2023
“Recent data showing fewer job openings and increases in initial claims for unemployment insurance paint a picture of a job market that is still quite strong but beginning to flag, lagging other indicators of a slowing economic activity and tightening credit.”
–MBA Chief Economists Mike Fratantoni.
MBA: 2022 IMB Production Profits Fall to Series Low
Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $301 on each loan they originated in 2022, down from an average profit of $2,339 per loan in 2021, according to the Mortgage Bankers Association’s Annual Mortgage Bankers Performance Report.
Industry Briefs Apr. 10, 2023: HUD Extends AFFH Proposed Rules Comment Period by 2 Weeks
HUD extended the public comment date for its Affirmatively Furthering Fair Housing proposed rule by 14 days, to April 24, per a notice in the Federal Register.
MBA Welcomes New Members
The Mortgage Bankers Association welcomed the following new members in March:
Mind the Gap: What CONVERGENCE Columbus Can Teach Us About Increasing Black Homeownership
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.