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
“Turning points can be hard to capture in the labor market, but our data suggest that Federal Reserve tightening is having an impact on job creation and pay gains. In addition, companies are no longer in hyper-replacement mode. Fewer people are quitting and the post-pandemic recovery is stabilizing.”
–Nela Richardson, chief economist with ADP, Roseland, N.J.
MBA Weekly Survey Nov. 30, 2022: Applications Down Despite Falling Rates
Mortgage applications fell for the first time in three weeks despite interest rates falling below 6.5 percent, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending November 25.
MBA News
Today in MBA News: MBA Independent Mortgage Bankers Conference: MBA Education School of Loan Origination; MBA Education CMB Prep Course; MISMO’s Jonathan Kearns on cybersecurity. To read more, click on today’s MBA News headline.
Joe Camerieri of Mortgage Cadence: Finding Opportunities in a Downturn: Lessons for 2023
There is a great deal of uncertainty as to the health of the U.S. real estate business in 2023, of course, and we’re all hearing plenty of negative narrative as the industry contracts in the face of lower overall loan volumes. However, that’s not what many lenders are focused on. We’ve spoken to many lenders who are finding bright spots – opportunities amidst the challenges.
FHFA Raises 2023 GSE Conforming Loan Limits to $726,000
The Federal Housing Finance Agency on Tuesday increased the conforming loan limit values for mortgages to be acquired by Fannie Mae and Freddie Mac for one-unit properties to $726,200, an increase of 12.21 percent ($79,000) from $647,200 in 2022.
Veronica Nguyen of BeSmartee: Crafting a Strategy After a Bloody Year
While no one has a magic ball that can tell us when the market will pick up again, it’s a good idea for executives at financial institutions to rethink and consider what a realistic strategy looks like moving forward in a low market as well as a high market.
Joey McDuffee of Blue Sage Solutions: Smart Lenders Are Seizing Growing Home Equity Opportunities
here are still opportunities to be found amid this difficult market. One of the best opportunities, in fact, are home equity loans, particularly HELOCs, and closed-end seconds as well—products for which borrower demand is still relatively strong. And this opportunity becomes even brighter with the right resources in place.
Doug Wilber of Denim Social: 3 Social Media Trends for Mortgage Marketers to Watch in 2023
As mortgage marketers eagerly look to put ‘22 in the rearview mirror, now’s the time to start plotting a competitive social media strategy for ‘23. So, if you’re wondering, “what’s next?”, you’re not alone.
State Regulators Encourage Licensees to Prepare for the NMLS Renewal Period
The Conference of State Bank Supervisors encourages state licensees to begin taking steps to prepare for the Nationwide State Licensing System license renewal period. Federally registered MLOs and institutions must also renew their registrations via NMLS by Dec. 31.