MBA Advocacy Update
MBA continues to advocate for the industry to help MBA members address the financing needs of their customers during the ongoing pandemic and will provide updates as they become available. Several updates pertaining to COVID-19, along with other industry activities, are included in this week’s communication.
MISMO Issues Standardized Closing Instructions
MISMO, the Mortgage Industry's Standards Maintenance Organization, announced issuance of standardized closing instructions.
MBA Chart of the Week: IMB Production Profits
Independent mortgage banks and mortgage subsidiaries of chartered banks reported average pre-tax production profits of 58 basis points ($1,470 on each loan they originated) in 2019, up from 14 basis points ($367 per loan) in 2018, according to the MBA Annual Mortgage Bankers Performance Report, released last month.
Ginnie Mae Begins Publishing PTAP/C19 Data
Ginnie Mae, Washington, D.C., on May 1 published the first set of data related to its expanded Pass-Through Assistance Program (PTAP/C19), developed in response to the COVID-19 pandemic.