As the federal government and other high profile financial services providers have embraced the cloud, lenders increasingly consider open banking a safe and efficient option to hosting services in their own data centers. This is a positive development for reasons that benefit borrowers and lenders alike.
Category: News and Trends
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“Despite a strong third quarter result, our forecast is for a slowdown in economic growth in the coming quarters and for the economy to enter a recession in 2023. Sharp slowdowns in global growth and tighter financial conditions have started to exert pressure on parts of the economy, in particular housing. There are also early signs of weakening in the job market, such as slower monthly payroll growth and declining job openings.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
Dan Ortiz of Enact: The Impacts of Climate Change on the Mortgage Industry
Climate change may seem like a distant topic to many, but it has the potential to affect various industries in many different ways. The mortgage industry, in particular, faces unique risks due to climate change and its impacts.
MBA: Homebuyer Affordability Drops in September Amid Surge in Mortgage Rates
Homebuyer affordability dropped in September, as the national median payment applied for by applicants increased by 5.5 percent to $1,941 from $1,839 in August, according to the Mortgage Bankers Association’s Purchase Applications Payment Index.
Sharon Reichhardt of ACES Quality Management: Changes to Fannie Mae’s Pre-Funding QC Requirements are on the Horizon. Are You Ready?
At the recent Mortgage Bankers Risk Management, Quality Assurance and Fraud Prevention conference, Fannie Mae hinted at forthcoming changes to its pre-funding quality control requirements. While specifics regarding the changes remain to be seen, the teaser serves as a warning for lenders to shore up their current pre-funding QC program to ensure they are ready to meet the new standards.
MBA Education Honors Natalie Weaver, AMP, with Willis Bryant Award
MBA Education, the award-winning education division of the Mortgage Bankers Association, honored Colorado Housing and Finance Authority’s Natalie Weaver, AMP, with its Willis Bryant Award.
Institutional Real Estate Returns Shrink in Q3
The National Council of Real Estate Investment Fiduciaries reported institutional-quality commercial real estate returned 0.57% in the third quarter, down from 3.24% in the second quarter.
Dealmaker: Institutional Property Advisors Completes $16M Florida Office Sale
Institutional Property Advisors, Ontario, Calif., sold TBC Headquarters, a single-tenant office building in Palm Beach Gardens, Fla., for $15.5 million or $348 per square foot.
September New Home Sales Down 11%
New home sales fell by nearly 11 percent in September, HUD and the Census Bureau reported Wednesday, as rising interest rates discouraged home buyers.
Sharon Reichhardt of ACES Quality Management: Changes to Fannie Mae’s Pre-Funding QC Requirements are on the Horizon. Are You Ready?
At the recent Mortgage Bankers Risk Management, Quality Assurance and Fraud Prevention conference, Fannie Mae hinted at forthcoming changes to its pre-funding quality control requirements. While specifics regarding the changes remain to be seen, the teaser serves as a warning for lenders to shore up their current pre-funding QC program to ensure they are ready to meet the new standards.