BREAKING NEWS
Applications Dip in MBA Weekly Survey
The most volatile and unpredictable economy in a decade has produced the strongest housing market in more than a decade—and, according to the Mortgage Bankers Association, it could get even stronger.
Mortgage applications fell slightly even as key interest rates remained below 3 percent, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 13.
For home builders, the bright spots are only getting brighter. The National Association of Home Builders said its monthly index builder confidence set its third straight record in November.
MISMO®, the mortgage industry standards organization, announced a call for participants for a new workgroup focused on a standards solution for commercial real estate.
The Federal Housing Finance Agency yesterday announced 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac at $70 billion for each Enterprise, totaling $140 billion in support to the multifamily market.
CoreLogic, Irvine, Calif., said single-family rent growth gained strength in September but remain below pre-pandemic rates.
Seth Appleton joins MISMO in December as its new President, responsible for the mortgage industry standard organization’s overall strategy and direction. He recently sat down (virtually, of course) with MBA NewsLink to discuss the future of mortgage technology/digital transformation and his vision for MISMO.
The MBA Mortgage Action Alliance Post-Election Update, taking place Thursday, Nov. 19 from 2:00-3:00 p.m. ET, provides MAA members (and prospective MAA members) with a briefing on election results to date and the anticipated impacts on the industry.
This major trend continues – banks and lenders sticking to their core competencies and seeking strategic vendor partners for the non-core – via technology and outsourcing. The low rate ‘feeding frenzy’ will come to an abrupt end, we just don’t know when. Still yet, we are starting to see financial institutions give more focus to the bottom line – cost cutting. Engaging third-party vendors is often a first consideration, reducing fixed costs.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased for the 11th week in a row, to 5.47% of servicers’ portfolio volume as of Nov. 8 from 5.67% the prior week – a 20-basis-point improvement. MBA now estimates 2.7 million homeowners are in forbearance plans.
Newmark, New York, closed retail and office property sales totaling $45.6 million in New Jersey and California.
State regulators encourage individuals and businesses that provide mortgage, money transmission, debt collection and consumer financial services to renew their licenses in Nationwide Multistate Licensing System by November 30 to avoid processing delays.
