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.
Category: News and Trends
Scott Roller: Heard it in Nashville – Worry, Panic and Opportunity
So, I headed to Nashville for the 2022 MBA Annual Convention and Expo, expecting to fully partake in all the excitement that Music City has to offer. Mission accomplished, but not surprised to also witness the build-up to the industry’s looming game of musical chairs.
Chris Bennett and Erin Palmer: Extended Rate Locks–How to Hedge Your Bets Past 90 Days
While any new construction loan destined for sale to a GSE can be a one- or two-time close, lenders can decrease risk by focusing the right resources on the initial underwrite as well as the final review.
MBA Weekly Survey Nov. 9, 2022: Rates Rise; Refis Fall to 22-Year Low
Mortgage applications fell for the seventh straight week, with rising mortgage rates pushing refinance applications to their lowest level since 2000, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending Nov. 4.
Record-High 3Q Homes for Sale New Construction
Redfin, Seattle, reported new construction took up a record percentage of housing inventory in the third quarter, partly filling a gap left by hesitant existing homeowners as the housing market slows.
Fitch: Most Maturing CMBS Conduit Loans Can Refinance
Maturing commercial mortgage-backed securities loans have elevated refinancing risk due to rising interest rates and a weakening macroeconomic outlook, reported Fitch Ratings, New York.
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?
Dealmaker: Servio Capital Acquires New Orleans Property for $40M
Servio Capital, Covington, La., acquired New Orleans’ California Building for $40 million.
MISMO Announces Standards Governance Committee Election Results
MISMO Members elected the following individuals to join the Residential and Commercial Standards Governance Committees for the 2023-2024 term:
Call for Speakers: MBA Technology Solutions Conference & Expo; Deadline Extended to Nov. 11
Speaking opportunities for breakout sessions are now being accepted for The Mortgage Bankers Association’s Technology Solutions Conference & Expo 2023, taking place April 2–5 at the San Jose McEnery Convention Center in San Jose, Calif.