The Mortgage Bankers Association welcomed the following new members in January and February:
Category: News and Trends
Dealmaker: BWE Secures $40M to Refinance, Preserve Affordable Housing
Bellwether Enterprise Real Estate Capital LLC, Cleveland, closed five loan deals totaling $40.1 million to refinance and preserve two affordable housing communities in Mt. Vernon, Texas, and Silver Spring, Md., as well as three affordable senior living communities in Nashville, Baltimore and Pikesville, Md.
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.
Foreclosure Activity Posts Monthly Decrease, Rises Annually
ATTOM, Irvine, Calif, said properties with foreclosure filings fell by 3 percent in February from January but rose by 18 percent from a year ago.
CoreLogic: Annual Home Price Growth Continues Single-Digit Slowdown
CoreLogic, Irvine, Calif., said U.S. home prices continued their gradual free fall in January, with the 5.5% annual gain down for the ninth straight month and the lowest recorded since June 2020.
Digitally Native Brands Look to Brick and Mortar
Placer.ai, Los Altos, Calif., said a robust brick-and-mortar operation is critical for digitally native brands looking to build brand awareness, streamline distribution and drive consumer engagement.
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.
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.
Quote: Mar. 8, 2023
“Even with higher rates, there was an uptick in applications last week, but this was in comparison to two weeks of declines to very low levels, including a holiday week. Comparing the application indices from a year ago, purchase applications were still down 42 percent, and refinance activity was down 76 percent. Many borrowers are waiting on the sidelines for rates to come back down.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.