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.
Category: News and Trends
Dealmaker: Excelsa Properties Acquires Md. Multifamily for $78M
Excelsa Properties, Bethesda, Md., closed its $78-million purchase of Columbia Pointe, a 325-unit multifamily in downtown Columbia, Md.
MBA Advocacy Update Nov. 14 2022
On Friday, the Federal Housing Finance Agency announced 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac will be $75 billion for each Enterprise (for a total of $150 billion). FHFA maintained the requirement that 50 percent of the Enterprises’ business must be for mission-driven affordable housing and added a new mission-driven category for workforce housing properties.
David Arnett of Cherry Creek Mortgage: Engaging Millennials and Single Women Despite a Down Market
There’s been a lot of research done on the impact Millennials and single women are having on the housing market. Yet there’s not a lot of solid advice on how to attract and engage these audiences, which is a shame considering how important they are to an originator’s business. But there are effective ways to get your message across if you’re willing to rethink your current marketing strategy.
MBA Chart of the Week Nov. 10 2022: Housing Migration
This week’s MBA Chart of the Week shows the reasons for leaving one’s previous residence. The three main reasons in the 2021 AHS are wanting a larger or better-quality home (17.7%), wanting a more desirable neighborhood (15.6%) and forming their own household (14.4%).
Sponsored Content from Equifax: Differentiated Insights to Expand Access to Credit
Using telco, pay TV and utilities insights to help create greater homeownership opportunities for millions of U.S. mortgage applicants.
Quote
“Much higher mortgage rates and the worsening outlook for the housing market and economy are behind the continued tightening in credit availability. Lenders continue to reduce their capacity and are eliminating some loan offerings, including certain types of refinance loan products and others that require less than full borrower documentation.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
Mark P. Dangelo: Data Ecosystems and Fabrics are the New ROI—Not Systems
Why does innovation and technology ROIs continue to disappoint? ROI efficacy has become the symptom of the problem as the bullseye of measure is no longer fixed on the application, the cloud solution, or the innovation delivered. The rise of digital ecosystems has permanently altered the ROI discussions and evaluations—and the investment strategies deployed.
Tom Lamalfa: MBA Annual Convention & Expo Survey Report and Scorecard
What follows are the findings of a semi-annual survey of senior mortgage banking executives. The surveys, which were conducted in mid-October, were of mortgage veterans at 33 different mortgage companies — 17 financial intermediaries, largely commercial banks; and 16 non-banks, independent mortgage banks or IMBs.
John Sarris of Sourcepoint: Are Lenders Ready for the Great Cost Reset?
A few mortgage executives are embracing a more holistic strategy that goes beyond these all-too-familiar and destructive tactics—cost transformation. But what is it, exactly? More importantly, how can it help lenders operate more efficiently regardless of market shifts?