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Category: News and Trends
MBA Weekly Survey Nov. 16, 2022: Rates Fall; Applications Up 1st Time in 8 Weeks
Mortgage applications rose for the first time in eight weeks as mortgage rates fell back below 7 percent, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending Nov. 11.
Income Needed to Afford Typical U.S. Home Jumps By 46% From Year Ago
Homebuyers across the country need to earn substantially more money than they did a year ago to buy a home, due to high mortgage rates and persistently high home prices, said Redfin, Seattle.
Dealmaker: TIAA Bank Refinances Student Housing, Shopping Center
TIAA Bank, Jacksonville, Fla., secured $51 million in cash-out refinancing for a student housing property in Wisconsin and shopping center in Georgia.
Hotel Pipeline Swells
The U.S. hotel pipeline increased 10% year-over-year to 5,317 projects underway as of Sept. 30, reported Lodging Econometrics, Portsmouth, N.H.
FHA 2022 Actuarial Report Shows Continued Improvements in Capital Ratio, HECM Performance
The Federal Housing Administration on Tuesday released its Annual Actual Report on the status of its Mutual Mortgage Insurance Fund, showing an increase in congressionally mandated capital reserve ratios, lower delinquency levels and a decrease in borrowers in forbearance plans.
FHA 2022 Actuarial Report Shows Continued Improvements in Capital Ratio, HECM Performance
The Federal Housing Administration on Tuesday released its Annual Actual Report on the status of its Mutual Mortgage Insurance Fund, showing an increase in congressionally mandated capital reserve ratios, lower delinquency levels and a decrease in borrowers in forbearance plans.
Q/A: Nick Smith of Rice Park Capital Management
Nick Smith is Founder, Managing Partner and CEO of Rice Park Capital Management, a private investment firm managing various investment vehicles and venture capital funds on behalf of institutional investors, family offices and high net worth individuals.
Quote
“Given FHA’s healthy financial position, MBA continues to believe that HUD should make FHA loans more affordable by reducing mortgage insurance premiums as soon as budgetary opportunities allow. This move would help offset the impact of higher mortgage rates and improve the purchasing power for many prospective first-time homebuyers, minority buyers, and those with low and moderate incomes.”
–MBA President & CEO Robert Broeksmit, CMB.
Brian Webster of NotaryCam: Create a Winning Closing Experience with RON
When faced with two or more similar options, consumers often choose based on which option is better suited to fit their lifestyle. For lenders wanting to ensure their spot at the top of the rankings, providing a superior closing experience is an essential part of the game plan, of which remote online notarization is a key element.