With refinances plummeting, it’s more important than ever for lenders to optimize profitability by finding ways to take time and cost out of the origination process.
Category: News and Trends
MBA Weekly Survey June 22, 2022: Applications on a Winning Streak Despite Nearly 6% Interest Rates
After falling for more than a month, mortgage applications rose for the second week in a row, even as interest rates nearly reached 6 percent—the highest level since 2008, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending June 17.
Aaron Davis and Jonathan Kearns: Making the Case for Universal eClosings
They’re now legal almost nationwide and they were boosted by the pandemic. But they’re still not the mainstream of closings. Here’s why they should be.
Share of Mortgage Loans in Forbearance Falls to 0.85%
Mortgage loans in forbearance fell to new post-pandemic lows in May, the Mortgage Bankers Association reported Tuesday.
FHFA Re-Assures MBA, Trades’ Concerns over New GSE Credit Score Requirements
Following concerns expressed in a May 13 letter, the Federal Housing Finance Agency assured the Mortgage Bankers Association and other industry trade groups that industry stakeholders such as themselves would have sufficient time to implement necessary system and process changes that any updates to Fannie Mae and Freddie Mac’s credit score requirements would entail.
Existing Home Sales Fall 4th Straight Month; Median Sales Price Breaks $400,000
May existing home sales fell by 3.4 percent from April, marking the fourth consecutive monthly decline, the National Association of Realtors reported Tuesday.
CMBS Delinquency Rate Falls Sharply
Trepp LLC, New York, said the commercial mortgage-backed securities delinquency rate posted another large decline in May.
Dealmaker: D2 Capital Advisors Arranges $18M in Construction Financing
D2 Capital Advisors, Philadelphia, arranged $18.2 million in construction financing for a 47-unit affordable housing property in Aurora, Ill.
MBA, NFHA Launch Online Toolkit for Special Purpose Credit Programs in Underserved Communities
The Mortgage Bankers Association and National Fair Housing Alliance announced a new online toolkit for mortgage lenders interested in developing Special Purpose Credit Programs, which permit lenders to offer mortgage credit to economically and socially disadvantaged borrowers and are an important tool for ensuring financial institutions can meet the needs of their consumers.
Sponsored Content from WFG: When it Comes to Operational Efficiency, Don’t Let ‘Perfect’ Get in the Way of ‘Better’
With refinances plummeting, it’s more important than ever for lenders to optimize profitability by finding ways to take time and cost out of the origination process.