BREAKING NEWS
Refis Up, Purchases Down Amid Record-Low Interest Rates in MBA Weekly Applications Survey
With mortgage interest rates falling yet again to record lows, homeowners took advantage to refinance; purchase buyers, not so much, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending December 4.
Seth Appleton, President of MISMO®, issued the following statement in support of the Financial Stability Oversight Council’s annual report recommendation (https://home.treasury.gov/system/files/261/FSOC2020AnnualReport.pdf) that the industry adopt and use industry data standards:
CoreLogic, Irvine, Calif., said its monthly Loan Performance Insights Report for September showed a leveling off of serious loan delinquencies, a “positive signal” that the housing finance industry is thus far adjusting to the pandemic-induced economic downturn.
The commercial mortgage-backed securities delinquency rate dipped in November, largely due to continued Coronavirus debt relief, said Fitch Ratings, New York.
As the CARES Act has been welcome relief to borrowers, many servicers are finding their own relief in strategic partnerships.
The Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, is holding elections for three at-large seats on its 2021-2022 MAA Steering Committee. The active voting period will be open until Wednesday, Dec. 9 at 5:00 p.m. ET.
Greg Holmes is Managing Partner with Credit Plus Inc., Salisbury, Md., a third-party verifications company serving the mortgage industry.
The Mortgage Bankers Association announced Borden Hoskins joined the association as Associate Vice President of Legislative Affairs. He will be responsible for advocating MBA’s legislative and policy priorities on Capitol Hill, with a primary focus on Republican members of the House of Representatives.
Grandbridge Real Estate Capital, Charlotte, N.C., arranged $113.5 million for office and apartment properties in Minnesota and Virginia.
SimpleNexus, Lehi, Utah, announced a two-way integration with Unify’s Business Growth Platform that streamlines the loan application process to improve efficiency and help mortgage lenders reduce application abandonment.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance remained unchanged from the prior week at 5.54% as of November 29. MBA estimates 2.8 million homeowners are in forbearance plans.
MBA NewsLink interviewed Bruno Pasceri, President of Incenter LLC and a mortgage industry leader for more than 30 years, about the mortgage banking market and how to navigate future changes.
