Mortgage applications fell for the first time in five weeks, despite another drop in interest rates, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending Apr. 5.
Category: News and Trends
CONVERGENCE Partner Profiles: Meghan Bartholomew, Radian
Meghan Bartholomew is Executive Vice President of Credit and Counterparty Risk Management with Radian, Philadelphia. She discussed Radian’s work with the CONVERGENCE initiative, a place-based partnership focused on narrowing the racial homeownership gap.
MBA Weighs in on HUD Section 8 Proposal
The Mortgage Bankers Association this week weighed in with HUD on its proposal to transition to a single Section 8 regulation and a single Housing Assistance Payment contract for its Section 8 project-based rental assistance programs.
JOLTS: Job Openings Fall in February
U.S. job openings fell to 9.9 million in February, the Bureau of Labor Statistics reported Tuesday in its Job Openings and Labor Turnover Summary (JOLTS) report.
Dealmaker: Gantry Secures $54M for Seattle Multifamily Property
Gantry, San Francisco, secured $53.5 million in permanent financing for 237-unit Cypress Apartments in Seattle’s Yesler Terrace community.
CoreLogic: Annual Home Price Growth Continues Single-Digit Slide
CoreLogic, Irvine, Calif., said while annual U.S home price growth rose for the 133rd straight month in February, the 4.4% increase was the lowest recorded since 2019.
MBA Urges CFPB to Withdraw Nonbank Registry Proposal
The Mortgage Bankers Association, in its second letter this week to the Consumer Financial Protection Bureau, urged the Bureau to withdraw a proposal requiring nonbanks to register and report their use of certain terms and conditions in form contracts for consumer financial products and services.
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.
#MBATech23: Managing AI with the ‘Father of IBM Watson’
SAN JOSE, Calif.—Manoj Saxena, Chairman of AI Global, London, is perhaps best known as the “Father of IBM Watson,” the ubiquitous face of artificial intelligence. Now, his goal is to manage technology—and use AI as the business model of the future.
Quote: Apr. 5, 2023
“Spring has arrived, but the housing market is missing the customary burst in listings and purchase activity that typically mark the season.”
–MBA Chief Economist Mike Fratantoni.