The second quarter mortgage delinquency rate fell to a record low—even beating out pre-pandemic lows—the Mortgage Bankers Association reported Thursday.
Category: News and Trends
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“The market is wildly different than it was a few months ago. Buyers are competing with one to two other offers instead of four to eight. Some aren’t facing competition at all.”
–Alexis Malin, a Redfin real estate agent representing buyers in Jacksonville, Fla.
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.
Jennifer Dozier: Four Ways for Mortgage Lenders to Maintain a Competitive Advantage During a Volatile Market
When the mortgage industry is in a constant state of change, it’s important for lenders to stay on top of their game. With new reports coming out every day about market dynamics, competitive pressures, supply shortages and the persisting economic impacts of the global pandemic – mortgage lenders may be seeking ways to remain profitable and compliant.
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.
Redfin: Record Share of Homebuyers Looking to Relocate
Redfin, Seattle, reported the share of homebuyers looking to relocate jumped in July as high mortgage rates and home prices motivated Americans to move to more affordable areas.
Initial Claims at 8-Month High
Initial claims for unemployment insurance rose again last week to their highest level since November, the Labor Department reported Thursday.
Hotel Construction Pipeline Continues to Shrink
U.S. hotel construction has declined for seven consecutive months, reported STR, Hendersonville, Tenn.
Dealmaker: Walker & Dunlop Closes $1.1B
Walker & Dunlop’s New York Capital Markets team closed $1.1 billion in capital markets activity in New York.
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.