ANNOUNCEMENT
The MBA Forbearance & Call Volume Report will come out today, July 7.
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The Mortgage Bankers Association and nearly a dozen industry trade groups sent a letter this month to the Federal Communications Commission offering recommendations to improve an FCC draft order addressing robocalls and “spoofing.”
Black Knight, Jacksonville, Fla., said homeowners’ tappable equity rose by 8% annually in the first quarter to a record-high $6.5 trillion.
The economy added a record 4.8 million jobs to nonfarm payrolls in June, bringing the cumulative increase in May and June to one-third of the sharp decreases in March and April. Similarly, the June unemployment rate, at 11.1%, was down 3.6% from its high in April, and labor force participation jumped by 0.7% to 61.5% (1.9% below its pre-coronavirus level in February). However, we are not yet out of the woods.
The Mortgage Bankers Association, the American Land Title Association and the National Association of Realtors have developed a model executive order for states to enable remote notarizations during coronavirus pandemic.
The Counselors of Real Estate, Chicago, said the COVID-19 crisis will teach commercial real estate practitioners new lessons about priorities, resilience and demand.
CoreLogic, Irvine, Calif., launched OneHome, a virtual, collaborative platform for real estate agents and their clients looking to buy, sell or make improvements to a home. Following a launch with Ohio-based Yes-MLS, OneHome is expected to be nationally available by the end of 2020 to the more than 850,000 real estate agents in North America who currently use CoreLogic’s multiple listing platform.
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Adherence to vendor management best practices needs to remain top of mind for lenders even when accelerating their digital mortgage tech selection and deployment process. Compliance with regulatory requirements and proper risk mitigation are not steps to be overlooked.
According to the latest Mortgage Banker Association Forbearance and Call Volume Survey, the total loans in forbearance stands at 8.47%. While the number of new forbearance requests is declining, many servicers may still be working with forbearance borrowers for the rest of this year and into 2021. Here’s what servicers can do to handle this new reality.
We have successfully tackled using AI in newer areas, such as tiered contextual responses, voice recognition, biometrics and natural language processing. The fuzziness increases in emerging areas of AI use, including one where it’s especially common in mortgage banking – customer engagement using sentiment analysis and advanced contextual cues.
LenderClose, Des Moines, Iowa, appointed Martina Schubert as chief technology officer, responsible for aligning technological vision with the company’s needs to positively impact current and future operations.
JLL Capital Markets, Atlanta, finalized a 20-property Project-Based Section 8 portfolio sale totaling 1,763 units and $106 million across Georgia, North Carolina and South Carolina.
