In the first two of four major jobs reports this week, ADP, Roseland, N.J., said February private-sector employment increased by 242,000, while the Bureau of Labor Statistics reported job openings fell under 11 million.
Category: News and Trends
Dealmaker: NewPoint Provides $21M Construction Loan in Milwaukee
NewPoint Real Estate Capital, Plano, Texas, provided $20.6 million to develop Michigan Street Commons, a 99-unit affordable housing community to be built in Milwaukee, Wis.
MBA Appoints Eric Gates Chairman of MAA for 2023-2024
The Mortgage Bankers Association appointed Eric Gates, President of Apex Home Loans, Rockville, Md., as chairman of the MBA Mortgage Action Alliance for the 2023-2024 election cycle.
Quote: Mar. 9, 2023
“This additional tool will allow mortgage servicers to help struggling FHA borrowers stay in their homes through a more affordable and sustainable mortgage payment. Adding the 40-year loan modification to FHA’s loss mitigation toolkit creates better alignment across the government and with Fannie Mae and Freddie Mac, a long-standing MBA priority that we most recently recommended in our new white paper on the future of loss mitigation. Better alignment will improve consumer experience and lead to consistency and simplicity when addressing adverse market conditions, national emergencies and natural disasters.”
–MBA President & CEO Robert Broeksmit, CMB, on an FHA final rule authorizing 40-year loan modifications.
MBA Weekly Survey Mar. 8, 2023: Applications Up Despite Higher Rates
Interest rates rose again last week—but instead of dampening mortgage application activity, borrowers responded with across-the board increases, Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending Mar. 3.
MBA Education Path to Diversity Scholar Profile: Kirsten Agard, CMB, AMP
My name is Kirsten Agard, CMB, AMP, I live in Tigard, Oregon, and I have been in the mortgage industry for 12 years.
Cheryl Lieber and Katie Caggiano of the MBA HR Professionals Networking Group
The Mortgage Bankers Association’s Human Resources Professionals Networking Group is an MBA member networking opportunity for HR heads, directors and managers of mortgage banking institutions or their designates.
People in the News Mar. 9, 2023: MBA Names Owen Lee 2023-2024 MORPAC Chair
The Mortgage Bankers Association appointed Owen Lee, CEO of Success Mortgage Partners Inc., Plymouth, Mich., chairman of MORPAC, its political action committee, for the 2023-2024 election cycle.
Jason Wilborn of Accenture: Perfect Timing
NOW is the time we should revisit what didn’t work when volumes were high. The opportunity to think outside of the box relative to engaging new partners, new systems, and to properly implement policy changes is now. The imperative for a proactive, funded, and holistic approach assessing your business model is upon us.
Sponsored Content from WFG: Are You Taking Full Advantage of the Home Equity Lending Boom?
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