Attorney opinions, in providing more limited coverage of title risks, represent a shifting of risk to the lender because they are responsible for representations and warranties for the life of the loan that pertain to clear title and first-lien enforceability.
Category: News and Trends
‘Coach K’ to Keynote MBA Annual22
Using insights, inspirations and proven principles he has applied to his legendary teams and coaching career, Mike Krzyzewski (“Coach K”) sits down with 2023 MBA Chairman Matt Rocco to discuss clear, passionate guidelines on reaching for and achieving success at the MBA Annual Convention & Expo on Tuesday, Oct. 25.
Voting for 2023 MBA Officers, New & Returning Directors Underway; Deadline Oct. 14
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.
MBA Advocacy Update Oct. 10, 2022
On Tuesday, HUD published a Request for Information that seeks stakeholder input on barriers to originating small balance mortgages in the FHA loan program. Earlier this month, the federal District Court for the District of Columbia ruled that the Home Mortgage Disclosure Act reporting threshold should be decreased from 100 closed-end loans to 25 closed-end loans.
Quote
“With the likelihood of a weakening economy, which would lead to an increase in delinquencies, there was a smaller appetite for lower credit score and high LTV loan programs, along with a reduction in government streamline refinance programs.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
MBA Chart of the Week Oct. 7, 2022: 2021 Housing Stock
In this week’s MBA Chart of the Week, we show the stock of occupied homes in the U.S. by the decade built and by building type. The chart indicates that the housing stock in the U.S. is aging.
People in the News Oct. 11, 2022: MonitorBase Promotes Lilly Staniforth to VP Business Relations
MonitorBase, Murray, Utah, promoted Lilly Staniforth to vice president of business relations. She will focus on improving the company’s brand awareness and value proposition and building stronger client relationships.
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.
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.