BREAKING NEWS
The Latest from the MBA Annual Convention & Expo #MBAAnnual20
(The following are remarks by Mortgage Bankers Association President & CEO Robert Broeksmit, CMB, during the MBA Virtual 2020 Convention & Expo on Monday, Oct. 19.)
Susan Stewart has worked in mortgage banking since she was 24. She has grown SWBC Mortgage, San Antonio, Texas, from a small regional bank with three employees in 1989 to a full-service origination-to-servicing organization with 70 branches serving 43 states with 680 employees. And yesterday, she became Chair of the Mortgage Bankers Association—another full-time job in itself, but one she relishes as the real estate finance industry—and the country—deal with a remarkable period in history.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 40 basis points to 5.92% of servicers’ portfolio volume as of October 11, from 6.32% the prior week. MBA now estimates 3.0 million homeowners are in forbearance plans.
Federal Housing Finance Agency Mark Calabria yesterday told MBA members that FHFA wants comments on a proposed rule that would require Fannie Mae and Freddie Mac to obtain approval for new products and notice before engaging in new activity.
Brian Stoffers, CMB, served as Chairman of the Mortgage Bankers Association during perhaps the most interesting year in its history—not that he or anyone else planned it that way.
There is plenty of evidence that better borrower satisfaction is a competitive requirement. How will lenders achieve it?
Builder confidence in the market for newly built single-family homes increased to record levels for the third consecutive month, the National Association of Home Builders reported yesterday.
Andrew Weiss is Senior Vice President of Mortgage Origination Platform Strategy with Origence, Irvine, Calif., a provider of lending technology and platforms for the financial services industry. He has more than 30 years of experience in the mortgage and consumer lending space and was instrumental in developing Desktop Underwriter while working for Fannie Mae.
Lenders are seeing record-breaking volume month over month, and it doesn’t seem to be slowing down. One thing that has slowed down across the industry, however, is appraisal turn times. As the volume of loans requiring appraisals goes up, the number of appraisers seems to be going in the opposite direction.
MBA is proud to recognize its Premier Associate Members and 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.
What ever happened to Senate Bill 3533, the Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020 (the “SECURE Act”), bipartisan legislation to authorize and establish minimum standards for electronic and remote notarizations (RON), which was introduced in mid-March? We assert that this question would be on more lips and in more headlines had not nearly every state in the Union either adopted its own version of the law or enacted pandemic-necessitated workarounds.
More than six million households did not make their rent or mortgage payments, and 26 million individuals missed their student loan payment in September, according to third quarter research released today by the Mortgage Bankers Association's Research Institute for Housing America.
