The Mortgage Bankers Association and several trade associations representing the Black Homeownership Collaborative sent a letter to HUD Secretary Marcia Fudge this week urging the Department to make meaningful reductions to the annual Mortgage Insurance Premium and suspend life-of-loan requirements for borrowers with FHA-insured loans.
Category: News and Trends
Economic Report Roundup: Inflation Pushes Up; Initial Claims Rise
The Bureau of Labor Statistics on Thursday reported its Consumer Price Index rose by 0.4 percent in September to an annual rate of 8.2 percent. Separately, the Labor Department reported initial claims for unemployment insurance rose for the second straight week.
Economic Uncertainty, Remote Work Challenge Office Sector
Despite five interest rate increases in 2022, inflation remains near multi-year highs. This could hit the office sector harder than other property types, said KBRA, New York.
Dealmaker: Bellwether Enterprise Secures $62M for Five Senior Housing Communities
Bellwether Enterprise Real Estate Capital, Cleveland, closed three loans totaling $62 million for assisted living and memory care communities in South Carolina and New York.
MBA Commends FHFA’s New Enterprise Housing Goals Methodology Proposal
The Mortgage Bankers Association on Thursday commended the Federal Housing Finance Agency for its proposed rule establishing 2023-2024 Multifamily Enterprise Housing Goals for Fannie Mae and Freddie Mac.
MISMO Seeks Public Comment on FIPS Code Lending Limit API Specification
MISMO®, the real estate finance industry standards organization, seeks public comment on a new FIPS Code Lending Limit API Specification, which will illustrate how to define a standard REST-based OpenAPI for searching lending limits based on a property’s postal code and county name.
Zillow: First-time Home Buyers Return Despite Affordability Challenges
Zillow, Seattle, reported first-time home buyers have returned to the housing market–and those who can afford a home are finding success after years of setbacks.
Martin Frenkel and Brian Nettleingham of Maddin Hauser: What Lenders Need to Know about Layoffs
Since April , more than 20,000 mortgage banking and brokerage positions have been cut, primarily at lenders. While such workforce reductions are designed to reduce costs, they can also leave mortgage companies exposed to significant liability if they violate federal and state laws regarding layoffs.
mPowering You: MBA’s Summit for Women in Real Estate Finance in Nashville Oct. 22
mPowering You: MBA’s Summit for Women in Real Estate Finance, takes place Saturday, Oct. 22 in Nashville, Tenn., ahead of the MBA Annual Convention & Expo.
Industry Briefs Oct. 13, 2022: Constellation Mortgage Solutions, Lender Price Announce Partnership
Constellation Mortgage Solutions, a provider of enterprise mortgage loan origination and servicing software systems, announced a partnership with Lender Price, a provider of mortgage product and pricing engines.