Here’s a summary of Top National News Items from major news sites and industry trade publications. To get started, click on the headline above:
Category: News and Trends
Quote
“Mortgage credit availability was mostly unchanged in December as mortgage rates remained significantly higher than the prior two years and both refinance and purchase activity slowed dramatically.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
Wes Slocum of Accenture Credit Services: Reflections on an Incredible Year
A year that started out on a high from record-breaking originations, has now come to a close with the industry taking a long look at how to press forward. At first blush, the next two years are likely to be challenging, but I lean more towards the optimistic view and see this time period as one filled with opportunity.
MBA Advocacy Update Jan. 9, 2023
With elected members of both the House and Senate returning to Washington on Tuesday to organize for the 118th Congress, all eyes remained focused last week on the evolving process to officially elect a House Speaker.
MBA Chart of the Week Jan. 6, 2023: CRE Lending/Borrowing
Commercial real estate markets are entering 2023 amid a great deal of uncertainty and, as a result, a significant slowdown in activity. Leaders of top commercial real estate finance firms believe that overall uncertainty will dissipate over the course of the year, but with a host of factors that will drag – rather than boost – the markets in 2023.
MISMO Issues Implementation Guide for SMART Doc Version 3 Verifiable Profile
MISMO®, the real estate finance industry standards organization, released the Implementation Guide for the SMART Doc® Version 3 Verifiable Profile, which outlines requirements needed to create MISMO SMART Docs in PDF format.
MBA News Jan. 10, 2023
Today in MBA News: CREF23; MBA Education School of Mortgage Banking I; MBA Education Certified Mortgage Bankers Prep Course; MBA State Commercial Mortgage Licensing Resources. To read more, click on today’s MBA News headline.
Mark P. Dangelo: In the ‘Year of the Rabbit,’ Data is a Slow Tortoise (Part 1)
Academics, consultants, and vendors advocate for “data-driven” enterprises underpinned by augmented analytics, adaptative AI/ML, digital ethics, consumer privacy, and AI security. Yet, as the pace of innovation rises across financial markets and consumer models, the organizational capabilities of leveraging data are declining. What is wrong with this picture?
Ron Vaimberg: Why Most Originators Are Focused on the Wrong Problem
The reality is that market has been very strong for so long that many originators took for granted that they could do the same things and still produce the same results. But as they’re now finding out, that was never going to be the case.
Call for Nominations: MBA NewsLink 2023 Tech All-Star Awards; Deadline Jan. 20
The MBA NewsLink 2023 Tech All-Star Awards nomination period is underway. Nominations will be accepted through Friday, Jan. 20.