The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance decreased by 4 basis points tp 0.60% of servicers’ portfolio volume as of February 28 from 0.64% in January. MBA estimates 300,000 homeowners are in forbearance plans.
Category: News and Trends
SitusAMC: Commercial Real Estate Sentiment Slipping
SitusAMC, New York, said chaos in the capital markets is eroding sentiment for commercial real estate.
Dealmaker: Institutional Property Advisors Brokers $27M Arizona Multifamily Sale
Institutional Property Advisors, Calabasas, Calif., sold Eden Apartments, a 112-unit multifamily asset in Tempe, Ariz., for $26.5 million, or $236,607 per unit.
People in the News Mar. 21, 2023: MISMO Names David Coleman President
MISMO®, the real estate finance industry standards organization, named mortgage industry veteran David Coleman President.
Elevating Your Quality Quotient: Taking Stock of Mortgage Servicing in Three Acts
A borrower’s first home purchase and introduction to homeownership leaves an imprint. Mortgage origination production is an important component of housing services, but shortly after closing and keys are in-hand, the borrower’s collective time within the home is spent interacting with another mortgage ecosystem partner, their mortgage servicer.
MBA Chart of the Week Mar. 17, 2023: IMB Net Profits, Production Volume
In this MBA Chart of the Week, we look at production profits in basis points, relative to average production volume, from inception of the MBA Quarterly Mortgage Bankers Performance Report series in third quarter 2008 through fourth quarter 2022.
Quote: Mar. 21, 2023
“Fourth-quarter results were abysmal. Basis-point revenues dropped to levels not seen since the fourth quarter of 2011. Production costs reached their highest levels since the inception of MBA’s report, and production volume has now declined for eight consecutive quarters.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.
MBA Reports 4Q IMB Net Losses
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $2,812 on each loan they originated in the fourth quarter, the Mortgage Bankers Association reported Friday.
MBA Education Path to Diversity Scholar Profile: Dawn Hooper
Dawn Hooper has been in the mortgage industry since 1998. She has held various positions in all channels of the mortgage process. She was instrumental in the induction of licensing in her home state of North Carolina and at a national level, working closely with lawmakers and the Nationwide Mortgage Licensing System. Dawn was previously honored as the Virginia Mortgage Lenders Association Associate of the Year.
Discussing Data Centers With JLL Valuation Advisory’s Stuart Miller
Stuart Miller is Senior Vice President and Data Center Lead for JLL Valuation Advisory. He leads a team responsible for valuations for secured lending advisory, portfolio valuation, financial reporting and purchase price allocations.