On Tuesday, HUD Secretary Ben Carson and FHFA Director Mark Calabria testified before the Senate Banking Committee about how their agencies are assisting homeowners and renters during the COVID-19 pandemic. On Wednesday, MBA along with several industry trade and housing advocacy organizations sent a letter to HUD on FHA’s new early payment forbearance policy.
MISMO®, the mortgage industry standards organization, said it will evaluate the need for standards to facilitate early identification of loans that may become delinquent or be in distress.
MBA last week released its Quarterly Performance Report for the first quarter. The total sample of 336 independent mortgage banks and mortgage subsidiaries of chartered banks earned an average pre-tax production profit of 61 basis points (or $1,600) on each loan they originated – a solid showing particularly for a first quarter.
U.S. hotel profitability metrics cratered during April, reported STR, Hendersonville, Tenn. During April, the sector saw total revenue per available room fall nearly 93 percent year-over-year and gross operating profit per available room fall 116.9 percent to a $17.98 loss per room.