ANNOUNCEMENT
The weekly MBA Forbearance & Call Volume Survey will come out today at 4:00 p.m. ET
Washington is anxiously awaiting formal release of President Biden’s full fiscal year 2022 budget proposal, along with the Treasury Department’s “Green Book” itemizing the revenue implications of various tax proposals.
The Consumer Financial Protection Bureau said manufactured housing can be an affordable but potentially risky avenue for homeownership.
CoreLogic, Irvine, Calif., said sparse inventory and high demand placed upward pressure on home prices, leading to a third straight month of double-digit percentage growth.
This week’s MBA Chart of the Week shows that there is a declining share of completed homes (24 percent) and a growing share of homes sold that were either still under construction (38 percent) or not started (37 percent).
Because of yesterday’s holiday, the Mortgage Bankers Association releases its weekly Forbearance & Call Volume Survey today. The survey has shown drops in loans in forbearance for 12 consecutive weeks—will today’s report make it 13? Stay tuned—the report comes out at 4:00 p.m. ET.
The Mortgage Bankers Association nominated Mark Jones, CEO and Co-Founder of Amerifirst Home Mortgage, Kalamazoo, Mich. to serve as its Vice Chairman for the 2022 membership year.
George Smith Partners, Los Angeles, arranged $56.5 million in construction financing for the development of a mixed-use coastal infill project in Solana Beach, Calif.
Zaid Shariff is vice president – head of solution design and product implementation for SLK Global Solutions, a provider of digital platforms and business process management solutions to the banking, mortgage and financial services industries.
Stacey Berger, Executive Vice President and longtime Co-Head of Midland, Overland Park, Kan., recently announced his retirement effective May 31.
Working from home proved liberating for many people, either because they got more work done or they gained a better work-life balance. At this point, we can’t just put the genie back in the bottle. So, how will the mortgage industry manage the shift back to the office, or will they? Now that our face-to-face meeting-driven, paper-intensive industry has been thrust into the future, does it make sense to return to the past?
When it comes to closing, there are lots of moving parts involved that have traditionally been in person or on physical paper. However, things had to change rapidly. Although a challenge in the beginning, it has also presented a large opportunity and given borrowers and lenders more flexibility in how they complete tasks.
In early May I surveyed 33 senior executives from 33 separate mortgage companies about a myriad of issues and topics both germane and important to the mortgage banking industry. It was the 25th time such a survey was conducted by me since 2008. Until 2020 the surveys were conducted face to face at the MBA National Secondary Market Conference every May and again in October at the MBA’s Annual Convention. However, the pandemic has shifted both sets of contacts to the telephone last year and this.
Pete Carroll is executive of Public Policy & Industry Relations with CoreLogic, Irvine, Calif., and a member of the CONVERGENCE Memphis Steering Committee.
