BREAKING NEWS
Applications Tumble in MBA Weekly Survey
Mortgage applications took a tumble this week as key interest rates jumped to their highest level since January amid increased economic turmoil, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending March 20.
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The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action” this week in support of recently introduced legislation that would allow notaries in states without enacted remote online notarization laws to perform RON transactions.
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The Mortgage Bankers Association and other industry trade groups this week asked the Treasury Department and the Internal Revenue Service to delay deadlines applicable to like-kind exchanges currently underway to ensure liquidity in real estate markets during the coronavirus pandemic.
February new home sales dipped a bit, HUD and the Census Bureau reported yesterday. Sales of new single-family houses came in at a seasonally adjusted annual rate of 765,000, down by 4.4 percent from the revised January rate of 800,000, but 14.3 percent higher than a year ago (669,000).
The Mortgage Bankers Association has developed this resource page to assist our member companies as they plan and prepare for the COVID-19 coronavirus disease. For more information, click www.mba.org/coronavirusresources.
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,182 on each loan they originated in the fourth quarter, the Mortgage Bankers Association reported this week.
The pandemic is evolving rapidly, requiring businesses to respond quickly. By this point, most lenders have confirmed employee well-being and transitioned workers to remote environments where possible. For their next move, lenders need to start playing an aggressive game of “what if.”
Black Knight, Jacksonville, Fla., said February foreclosure starts fell 25% from January and 20% from a year ago, reaching their lowest level on record since it began publicly reporting the metric in 2000.
Just one-third of home buyers and sellers expect home prices to increase when the next recession hits, according to Redfin, Seattle.
MBA is proud to recognize its Premier and Select Associate Members and to thank them for their continued support of MBA and the real estate finance industry.
MBA recognizes its Select Associate Members and thanks them for their continued support of MBA and the real estate finance industry.
