ANNOUNCEMENT
MBA Offices will be closed this Monday, July 5, in observation of the Independence Day holiday. MBA NewsLink will not publish; the weekly MBA Forbearance and Call Volume Survey will be released on Tuesday July 6. On behalf of MBA officers and staff, have a safe and happy holiday.
The Mortgage Bankers Association urged the Senate Banking Committee to quickly approve Julia Gordon’s nomination as FHA Commissioner and forward her nomination for a full Senate vote.
The Consumer Financial Protection Bureau this week issued a report highlighting legal violations identified by the Bureau’s examinations in 2020.
Initial claims for unemployment insurance fell by more than 51,000 last week, reaching another post-pandemic low, the Labor Department said Thursday.
Consumer spending on retail is on the rebound, eclipsing pre-COVID levels—and investors are taking notice.
MISMO®, the real estate finance industry standards organization, seeks public comment on a proposed standard for Commercial Green Utility Data. The 90-day comment period begins June 30 and runs through September 30.
On Wednesday, the Mortgage Bankers Association released its first quarter Commercial/Multifamily DataBook.
Grandbridge Real Estate Capital closed $58 million to refinance a New York seniors housing community and an Ohio multifamily property.
The Mortgage Bankers Association issued a Call for Speakers for its Regulatory Compliance Conference, taking place Sept. 12-14 at the Grand Hyatt in Washington, D.C. Speaker proposals are due Friday, July 1.
On Tuesday the U.S. Supreme Court in, a 5-4 ruling, declined to lift the national Center for Disease Control and Prevention’s residential eviction moratorium. The ruling responds to a request to lift the D.C. Federal District Court’s stay, which has effectively paused its order invalidating the CDC moratorium. Presumably, the CDC eviction moratorium will expire on July 31.
With recent events leading to a massive increase in the use of RON, borrowers have seen they can close on their mortgage from the convenience of their kitchen table, and they’re wondering why that can’t always be the case.
Future market offerings and IT system delivery are being altered by the exponential expansion of granular, stackable aaS solutions. For industry leaders unaccustomed to using cross-industry building blocks and iterations of offerings, they will find declining profitability against rising industry disintermediation against their core products and services.
To extend Remote Online Notarization legislation nationwide, lenders are going to have to get their “back up off the wall” and join MBA efforts to press rulemakers for laws that enable homebuyers and the real estate finance industry to benefit from modern business practices that so many other industries already enjoy.
