The voting period for election of the Mortgage Bankers Association’s FY 2023 officers and new and returning directors is underway. Voting ends at 5:00 p.m. ET on Friday, Oct. 14.
Category: News and Trends
MBA Premier Member Profile: Constellation Mortgage Solutions
Constellation Mortgage Solutions provides industry-leading lending technology solutions through its products: Mortgage Builder LOS, Mortgage Builder LSS, ReverseVision LOS and our new LOS – NOVA.
Call for Speakers: MBA Servicing Solutions Conference & Expo: Deadline Oct. 14
Speaking opportunities for breakout sessions continue to be accepted for The Mortgage Bankers Association’s Servicing Solutions Conference & Expo 2023, taking place February 21–24 at Hyatt Regency Orlando.
Michael Berman of Ncontracts: What Is Appraisal Bias and How Can My Mortgage Company Avoid It?
Appraisal bias, or when an appraiser considers illegal factors such as the race of the homeowner or the racial makeup of a neighborhood when determining the fair market value of a property, doesn’t sound like a problem that should occur in 2022, but it regularly does.
Shelley Leonard and James Owens, CMT, of Xactus on Trends in Mortgage Technology
Shelley Leonard is President of Xactus, Broomall, Pa., a provider of verification for the mortgage industry, and is also a member of the Board of Directors. James Owens is Chief Technology Officer with Xactus.
Mortgage Credit Availability Falls to 9-Year Low
Mortgage credit availability fell in September for the seventh straight month to its lowest level since 2013, the Mortgage Bankers Association reported Tuesday.
Cash-Outs, Purchase Locks Decline Amid Record-Low Affordability
Black Knight, Jacksonville, Fla., said cash-out refinances fell significantly in September, by 26.2 percent from August alone and by 78 percent from a year ago. A similar report from MCT, San Diego, also found a sharp drop in loan lock volume in September.
DBRS Morningstar: Federal Reserve Finds CRE Risk
The good news: all 34 banks the Federal Reserve’s recent stress tests examined passed. The not-so-good news: the tests found potential risks in certain loan portfolios including commercial real estate, said DBRS Morningstar, New York.
Forecasts See Significant Slowing in Home Prices
Reports from Fitch Ratings, New York, and Veros Real Estate Solutions, Santa Ana, Calif., forecast sharp declines in home price appreciation over the next year.
Dealmaker: JLL Closes $388M New York Multifamily Sale
JLL, Chicago, sold a $387.5 million multifamily community with 408 market-rate units and 9,693 square feet of commercial space in Manhattan’s Murray Hill neighborhood.