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Category: News and Trends
Joe Ludlow of Advantage Systems: The Importance of Tracking Every Dime in a Rising-Rate, Recessionary Mortgage Market
The reality is that most lenders will see their volumes drop regardless of what they do, so they are also looking for additional strategies for staying profitable; one place to affect meaningful change is in lowering existing operational costs.
June Purchase Mortgage Applications for New Homes Decreased 12%
Mortgage applications for new home purchases decreased 12 percent compared to a year ago, the Mortgage Bankers Association’s Builder Application Survey reported.
MBA Forecast: Higher Rates, Economic Uncertainty to Slow Commercial/Multifamily Lending
Total commercial and multifamily mortgage borrowing and lending could fall to $733 billion this year, down 18 percent from 2021 totals, according to an updated baseline forecast from the Mortgage Bankers Association.
Builder Confidence Plunges as Affordability Woes Mount
The National Association of Home Builders reported builder confidence plunged in July as high inflation and increased interest rates stalled the housing market by dramatically slowing sales and buyer traffic.
MBA: Share of Mortgage Loans in Forbearance Decreases Slightly in June
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed the total number of loans now in forbearance decreased by 4 basis points from 0.85% of servicers’ portfolio volume in May to 0.81% on June 30.
Call for Entries: MBA DEI Leadership Awards–Deadline Aug. 5
The Mortgage Bankers Association is accepting entries for its annual Diversity, Equity and Inclusion Residential Leadership Awards; entry deadline is Friday, Aug. 5.
Trepp: Bank Loans Outperforming CMBS Loans
Trepp, New York, said the bank-issued commercial real estate loans it tracks generally performed better than commercial mortgage-backed securities loans last year.
Dealmaker: CBRE Sells Upper West Side Apartment for $415M
CBRE, Dallas, arranged the $415 million sale of 160 Riverside Boulevard on Manhattan’s Upper West Side to New York-based apartment investor A&E Real Estate.
Jeff Flory, CMB, AMP, of Baker Tilly: CFPB Increases Scrutiny of Mortgage Servicers as Pandemic Emergency Eases
It is not surprising that the CFPB has increased its scrutiny of mortgage servicers, particularly as the industry moves from a COVID-19 pandemic-induced emergency state to a more normalized servicing environment.