ANNOUNCEMENT
MBA offices will be closed on Thursday, Nov. 26 and Friday, Nov. 27 for the Thanksgiving holidays. On behalf of MBA officers and staff, have a safe and happy long holiday weekend.
The Federal Housing Finance Agency yesterday announced a nearly $40,000 jump in maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021.
With mortgage rates falling record lows for the 14th time this year, borrowers took the bait, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 20.
November saw no letup in the S&P CoreLogic Case-Shiller Home Price Indices, with home prices nationwide jumping by 7 percent annually. And the Federal Housing Finance Agency said it was even more, rising by nearly 8 percent.
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Trepp, New York, reported the commercial mortgage-backed securities special servicing rate inched down in October after peaking in September.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased to 5.48% of mortgage servicers’ portfolio volume as of November 15, from 5.47% the week before. MBA estimates 2.7 million homeowners are in forbearance plans.
Selling and delivering as a business partner in today’s market, with Nationwide Title Clearing VP of Sales & Marketing, Danny Byrnes.
Freddie Mac’s K series quietly holds a place as an important, innovative multifamily market solution that has served borrowers, lenders, tenants and bondholders extremely well since its inception. Importantly for a government-sponsored entity, it also serves as a mechanism to transfer risk away from taxpayers.
As we investigate 2021, one thing is certain, technology will be the innovation mantra pushing mortgage bankers and their high-touch processes into realities such as straight-through processing. These advanced technical innovations will challenge FSBO’s to think very, very differently.
Planet Home Lending LLC, Meriden, Conn., promoted Dalila Ramos to Vice President of Talent Acquisition to support recruiting efforts and attract talent.
Capital One, Bethesda, Md., provided $33.3 million in Fannie Mae and Freddie Mac loans to refinance three Los Angeles-area apartment communities.
The shift to digital-first technology has accelerated greatly. Once far on the horizon, digital adoption is no longer an option. Lenders must embrace digital solutions and explore augmented technology to meet consumers where they are and on their own time.
Lenders can reduce the impact of human bias on credit decisioning by building standardized, repeatable and observable processes facilitated by machines. While there’s still value in human interactions, machines are better at ensuring fairness and auditability. You can’t see inside a human mortgage underwriter’s brain, but a computer’s memory leaves a clear trail, making bias easier to measure and safeguard against.
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.
