Sonnenblick-Eichner Co., Beverly Hills, Calif., arranged $40.6 million in acquisition financing for the Surfsand Resort, a beachfront resort in Cannon Beach, Ore.
Category: News and Trends
MBA Advocacy Update Aug. 15, 2022: House Passes Inflation Reduction Act of 2022
On Tuesday, FHFA announced Fannie Mae and Freddie Mac will require servicers to obtain and maintain fair lending data on their loans. Last Friday, MBA submitted its comment letter to federal regulatory banking agencies on the Community Reinvestment Act. And the House approved the Senate’s amended substitute to H.R. 5376, now known as the Inflation Reduction Act.
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“July continued the ongoing trend in recent months of most of the forbearance exits coming from borrowers with portfolio loans and private-label security loans. There has been very little change in the forbearance rate for Fannie Mae, Freddie Mac and Ginnie Mae loans during the past three months, perhaps indicating that we have reached a floor, with loans entering forbearance about equal to loans exiting forbearance for these loan types.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.
MBA Chart of the Week, Aug. 12, 2022: National Mortgage Delinquency Rate
This week’s MBA Chart of the Week highlights the relationship between MBA’s mortgage delinquency rate and two economic indicators, the unemployment rate, and year-over-year changes in headline inflation – measuring the price of goods and services in the economy.
Steve Ferringer of INCENTER LLC on Home Equity Lending
teve Ferringer is Executive Vice President of Enterprise Business Development with INCENTER LLC, Fort Washington, Pa. Incenter helps mortgage bankers optimize processes and improve performance.
Ben Teerlink of MMI: Quality over Quantity–Using Data to Build Strong Referral Partnerships
Lenders with an eye for success will need to rely on strong referral partnerships as the mortgage market cools, stiffening competition for leads and loans. Simply put, the key to referral partnerships is to aim for quality, not quantity.
People in the News Aug. 16, 2022: FHFA Taps Naa Awaa Tagoe as Deputy Director
The Federal Housing Finance Agency promoted three employees to its executive staff. Naa Awaa Tagoe will serve as the Deputy Director for the Division of Housing Mission and Goals; Joshua Stallings will become Deputy Director for the Division of Bank Regulation; and Chris Dickerson will continue in his role as Senior Advisor to the Director in a permanent capacity.
Mortgage Industry Losses Due to Phishing Scams/Other Cyberattacks: Who’s Left Holding the Bag? Will Your Insurance Coverage Bail You Out?
Cybercriminals have ramped up their attacks on the mortgage and real estate industries, taking advantage of the multiple entry points available in every transaction, the lack of coordinated security efforts among the parties, and the abundance of personal and financial information that awaits them after a successful breach.
MBA CONVERGENCE Webinar Aug. 25: What Does It Cost to Produce a Unit of Housing?
MBA CONVERGENCE presents the next in its webinar series, What Does it Cost to Produce a Unit of Housing? Costs & Elements of Production, on Thursday, Aug. 25 from 2:00-3:00 p.m. ET.
Tom Millon, CMB, and Jeff Johnson: Preventing Loss Mitigation Starts with a Relationship
When borrowers make or miss a payment, their calls usually come through to a loan servicer rather than the lender itself. The servicer must therefore act as an extension of the lender’s business with two main objectives: deliver effective customer care and mitigate loss.