MISMO®, the real estate finance industry standards organization, was awarded for the third-straight year a 2023 HousingWire Tech100 award. This award recognizes the most innovative technology organizations in the housing economy.
Category: News and Trends
January Construction Spending Down 0.1%
Construction spending in January fell slightly to a seasonally adjusted annual rate of $1,825.7, the Census Bureau reported Wednesday, marking the eighth straight monthly overall decline.
ATTOM: 4Q Mortgage Lending Slumps to 9-Year Low
ATTOM, Irvine, Calif., said just 1.52 million mortgages secured by residential property originated in the fourth quarter in the United States, down 24 percent from the third quarter, marking the seventh quarterly decrease in a row, and down 55 percent from a year ago, to the lowest level since 2014.
Typical Home Changes Hands Every 12 Years, Down from 2020 Peak
Redfin, Seattle, reported the typical U.S. homeowner has spent 12.3 years in their home, down from the peak of 13.4 years hit in 2020 and 12.9 years in 2021.
Trepp: 2022 Life Insurance Mortgage Returns Worse Than 2008
Trepp LLC, New York, said its life LifeComps index of insurance company commercial mortgage investments saw a -10.1% return in 2022, largely due to a -14.3% appreciation return.
MBA White Paper Addresses Future of Loss Mitigation
The Mortgage Bankers Association released a white paper, The Future of Loss Mitigation, which takes into consideration how lessons applied and learned during the COVID-19 pandemic should shape permanent loss mitigation policy.
Dealmaker: Northmarq Arranges $78M in Multifamily Construction Loans
Northmarq, Minneapolis, arranged $78.3 million in multifamily construction loans in Alabama and Virginia.
Mark P. Dangelo: Digital Transformation—Utilizing DaaP for Revenue Gains
In part three of the series, “In the Year of the Rabbit Data is a Slow Tortoise,” we address the mindset shifts and implementation approaches needed to reposition data beyond the traditional design thinking of systems. As native digital ecosystems explode, reusable, auditable, and evolutionary data will become the difference between digital transformation incremental efficiencies and new revenue streams.
MBA Weekly Survey Mar. 1, 2023: Rising Rates Push Down Mortgage Applications
Interest rates reached their highest level since November, driving down mortgage application activity, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending February 24.
Quote: Mar. 2, 2023
“Policymakers must provide the certainty necessary for the industry to transition beyond the pandemic by addressing two issues: 1) the necessary extension of the successful ‘temporary flexibilities’ into permanent solutions and 2) loss mitigation in a high-interest rate environment,” the paper said. “”It will be essential for Congress, the administration and policymakers at all levels to take the coordinated actions necessary to ensure that servicers can continue to support struggling borrowers.”
–From an MBA White Paper, The Future of Loss Mitigation.