The Mortgage Bankers Association appointed Michael W. Briggs as Senior Vice President and General Counsel. He will serve as the association's chief legal officer and is responsible for managing the legal affairs of the association and its subsidiaries and affiliates.

COVID-19 has impacted the entire United States and commercial real estate is no exception; however, no property type is quicker to experience the impacts of a downturn than lodging, where rental rates reset daily.

Mortgage bankers and consumer lenders of every stripe have their plates full right now, so some may have missed a significant development or not had the bandwidth to consider its implications. One of America’s primary investors in loans to consumers has lost confidence in automated systems used for verifying loan applicants’ current employment status, accelerating an already-in-motion shift in how borrowers’ ability to repay needs to be assessed.

MBA NewsLink interviewed Tim Mazzetti, CMB, who leads SitusAMC's Servicing & Asset Management division.

(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.)

Phillips Realty Capital, Bethesda, Md., arranged $29 million in financing for Reston Metro Center One, a 124,000-square-foot office building in northern Virginia.

MBA remains engaged with key regulators, lawmakers, and stakeholders on top issues stemming from the COVID-19 pandemic. In response to member inquiries regarding the GSEs’ payment deferral options for borrowers in COVID-19 forbearance plans, MBA, along with counterparts from other national trade associations, developed FAQs following discussions with FHFA, Fannie Mae and Freddie Mac representatives.

MBA’s Chart of the Week three weeks ago (May 8) focused on the U.S. Bureau of Labor Statistics’ bleak April report on employment conditions. We examined which industries and sectors have been hardest hit by the COVID-19 pandemic. This week, we continue our examination of the labor market using new survey data released by the Federal Reserve Board, and examine, by education level, how many people were able to work from home as the crisis deepened in early April.