Mortgage applications rose last week as interest rates inched lower for the fifth straight week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending February 3.
Category: News and Trends
January CMBS Delinquency Rate Falls Below 3%
Trepp, New York, reported the U.S. commercial mortgage-backed securities delinquency rate fell 10 basis points in January to 2.94%
CFPB Issues Guidance on ‘Pay to Play’ Digital Comparison-Shopping Platforms
The Consumer Financial Protection Bureau on Tuesday issued an advisory opinion aimed at digital mortgage comparison-shopping platforms.
Dealmaker: Walker & Dunlop Structures $120M For Manhattan Affordable Housing
Walker & Dunlop, Bethesda, Md., structured $120 million in Freddie Mac financing to rehabilitate a 557-unit, three-building portfolio in Harlem, N.Y.
Rob Nunziata of Active Comply: Regulatory Implications of Employing Remote Workers
Rob Nunziata is co-founder and CEO of ActiveComply, Orlando, Fla., a provider of cloud-based platforms that help companies in highly regulated industries stay compliant. He is also Co-CEO of Orlando-based FBC Mortgage LLC, one of the nation’s largest retail home lenders.
Quote: Feb. 8, 2023
“Both purchase and refinance applications increased last week and have shown gains in three of the past four weeks because of lower rates. Overall applications remained 58 percent lower than a year ago and rates are still significantly higher, however, this week’s results are a step in the right direction.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
MBA Letter Voices Concerns Over FHFA DTI-Based LLPA
The Mortgage Bankers Association on Friday sent a letter to the Federal Housing Finance Agency expressing concerns regarding recently announced changes to loan-level price adjustments by Fannie Mae and Freddie Mac, particularly addition of an LLPA based on debt-to-income ratio.
Industry Briefs Feb. 8, 2023: TCN Worldwide Expands in Pa., Ohio, N.Y.
TCN Worldwide Real Estate Services added Jabe Companies Commercial Real Estate and Hanna Commercial Real Estate as the newest member firms
Rohin Tagra of Azimuth GRC: 4 Reasons Mortgage Lenders & Servicers Need Automated Full-Population Compliance Testing
The cost of non-compliance is rising. Regulatory expectations have increased, and new rules continue to be released, placing a heavy burden on compliance teams to keep pace, or else face consent orders and multi-million-dollar fines. The good news is that there’s a solution.
Dale Larson III of Modex: Three ways to build a better LO team in 2023
The outlook for 2023 remains uncertain – but we can anticipate more change, which necessitates new approaches and solutions. While there is no silver bullet, there are tangible things you can do to meet the moment and strengthen your team in 2023.