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Volume 19 Issue 247

Monday, December 21, 2020

MBA Advocacy Update–Dec. 21, 2020

MBA – along with several trades – sent a letter to Treasury Secretary Steven Mnuchin expressing concerns regarding the possible release of the GSEs from conservatorship. On Wednesday, FHFA released a final rule extending the current single-family and multifamily GSE affordable housing goals by one year, through 2021.

MBA, Trade Groups Ask Federal Agencies for Clarity on CARES Act Forbearance

The Mortgage Bankers Association, the American Bankers Association and the Housing Policy Council on Thursday asked federal agencies to issue guidance establishing a consistent timeframe for CARES Act forbearance under their respective programs.

MBA Chart of the Week: CMBS Annual Issuance Volume

One way to gauge potential commercial mortgage-backed securities issuance volume is by looking at the spreads investors are willing to pay for bonds. Based on current new-issue spreads, 2021 could line-up to be a strong year.

Industrial, Apartment Prices Rise as Retail Prices Fall

Real Capital Analytics, New York, reported commercial property prices grew in November at the fastest annual pace since the pandemic began.

The Week Ahead—Dec. 21, 2020

With Christmas—and the Christmas holiday break—just days away, the situation in Washington is, as usual, as chaotic as it could be. As of this writing, House and Senate negotiators are STILL working on a substantial $900 billion-plus coronavirus relief bill, which is keeping the 116th Congress from formally adjourning. And there’s still the defense appropriations bill, which triggered yet another government shutdown on Friday.

MBA VideOS

MBANow: Narayan Bharadwaj of Indecomm Global Services

MBANow: Narayan Bharadwaj of Indecomm Global Services

MBA Mortgage Market Update Dec. 16 2020

MBA Mortgage Market Update Dec. 16 2020

Getting Involved with MISMO

Getting Involved with MISMO

MBA Washington Report Dec. 14 2020

MBA Washington Report Dec. 14 2020

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TOP NATIONAL NEWS

The Continuing Saga of Fannie and Freddie
Mortgage Rates Keep Falling, Hitting Another Record Low
As Spikes in Premiums Derail Deals, How Can You Avoid Risks?
Look Beyond Detached Houses
2 Reasons Mortgage Rates Could Rise in 2021
Should Tellers and Loan Officers be Near Front of Line for COVID Vaccines?
U.S. Congress Reaches Deal on COVID-19 Aid Package, Top Senate Republicans and Democrat Say
UWM’s IPO is Now Scheduled for January
Christopher Waller Sworn In as Newest Fed Governor
Thoma Bravo Agrees to Buy RealPage for $9.6 Billion
Midtown Is Still Empty, and Landlords Are Sounding the Alarm
Olive Garden, Other Chains Suffer New Losses During Latest Covid-19 Surge

MBA NEWS

MBA Spring Conference & Expo Apr. 20-22
MBA Education Certified Mortgage Banker (CMB) Prep Course Jan. 8-Feb. 19
MBA Education Webinar: Ten Things Your Company Must Do in 2021 Jan. 13
MBA Education Compliance Essentials: Telephone Consumer Protection Act (TCPA) Resource Guide

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Quote

“Charmaine has a proven track record of empathetic leadership and is passionate about ensuring there is open and honest communication among leadership and every level of an organization. I am excited for Charmaine to join our team to help us deliver on our commitment to develop and promote successful D&I programs that benefit MBA and our industry.” --Lisa Haynes, MBA Senior Vice President, CFO and Chief Diversity and Inclusion Officer, on Charmaine Brown, who was appointed as MBA's first Director of Diversity and Inclusion.

STATLINK

December 18, 2020

MBA Hires Charmaine Brown As New Director of Diversity and Inclusion

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The Mortgage Bankers Association hired mortgage industry veteran Charmaine Brown to fill its newly created position of Director of Diversity and Inclusion. Brown, who will start on Jan. 4, will be responsible for developing, promoting and advancing diversity and inclusion programs for the real estate finance industry.

December 18, 2020

The Redesigned URLA Mandate Is Around the Corner. Will Your Technology Solution Be Ready?

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December is always a busy month, and this is especially true for mortgage lenders this year. With 2021 rapidly approaching, the deadline to implement the redesigned URLA and updated automated underwriting system (AUS) datasets will be here before we know it.

December 18, 2020

FHFA: GSEs Complete 539,000 3Q Foreclosure Prevention Actions

The Federal Housing Finance Agency released its third quarter 2020 Foreclosure Prevention and Refinance Report, showing Fannie Mae and Freddie Mac completed 539,451 foreclosure prevention actions in quarter, bringing to 5.2 million the number of troubled homeowners who have been helped during conservatorships.

December 18, 2020

Dealmaker: Dwight Capital Finances $131M for Multifamily

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Dwight Capital, New York, financed $130.7 million for multifamily properties in three states.

December 18, 2020

Chetan Patel of Verity Global Solutions on Managing Costs in a Transitioning Market

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Chetan Patel is COO of Verity Global Solutions, San Antonio, Texas, a provider of highly crafted services spanning the mortgage loan lifecycle. He has more than 25 years of leadership experience in the mortgage industry and has been recognized as an IT All-Star by Mortgage Banking magazine.

December 18, 2020

People in the News Dec. 21, 2020

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Promontory MortgagePath LLC, Danbury, Conn., hired Elisha Werner as chief compliance officer for mortgage operations. She will lead compliance efforts for the company’s residential mortgage operations and oversee the regulatory and compliance implementation process including contributing to and testing the company’s compliance controls and digital mortgage origination technology.

December 18, 2020

Industry Briefs Dec. 21, 2020

New American Funding, Tustin, Calif., launched a mentorship program to help team members develop professionally. New American Funding’s “360 Mentorship Program” matches an internal leader with another employee who is pursuing career advancement.

December 18, 2020

‘Not Ok? That’s Ok:’ Financial Services, Consumer Coalition Launches Borrower Awareness Campaign

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The Mortgage Bankers Association and a broad coalition of financial services stakeholders – including mortgage servicers, trade associations, housing counseling agencies, governmental agencies and think tanks – recently launched a consumer awareness campaign to reach borrowers who have missed one or more mortgage payments as a result of the COVID-19 pandemic and may be eligible for forbearance assistance under the CARES Act or other forms of mortgage payment relief.

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President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan | 202/557-2855

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