BREAKING NEWS
MBA: 4Q IMB Profits Remain High; Applications Fall Again in MBA Weekly Survey
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Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $3,738 on each loan they originated in the fourth quarter down from a reported gain of $5,535 per loan in the third quarter, according to the Mortgage Bankers Association’s latest Quarterly Mortgage Bankers Performance Report.
Steadily rising mortgage interest rates reached a nine-month high last week, putting the buzzkill on refinance activity, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending March 19.
Historically, February has never been a big month for home sales—it’s cold, the weather is unpredictable and it’s, well, February. But during the hottest—and strangest—housing winter in memory, could this February also defy logic.
The Mortgage Bankers Association and a broad coalition of more than 100 national and regional trade associations and community support groups urged Congress to pass S. 5061, the Housing Supply and Affordability Act, a bipartisan bill that would authorize $1.5 billion over five years for federal grants to local governments that commit to increase their supply of local housing.
The Mortgage Bankers Association on Monday asked for a meeting with Treasury and Federal Housing Finance Agency officials to address MBA member concerns over newly imposed limits on government-sponsored enterprise operations that could cause potential disruptions to the housing finance system.
The MBA Opens Doors Foundation announced a new alliance with The Children's Hospital at Saint Francis in Tulsa, Okla. The alliance is the Foundation's first in Oklahoma and brings the number of children's hospitals in its network to 13.
Blackstone Real Estate, New York, acquired 2 & 3 MiamiCentral from Shorenstein Properties, New York, for $230 million.
Community banks need to focus on partnerships with fintechs to deliver exceptional experiences and solve some of their most fragmented challenges. Fragmentation is expensive and riddled with risk and inefficiencies—and the lending and banking industries are full of fragmentation.
With the benchmark 30-year fixed rate beginning to creep higher, however, we may start to face a new reality. That’s why smart originators are already thinking about how to generate business when the refi dust settles. And many are setting their sights on the real estate investor channel, because the opportunities for business growth are incredible.
Unlike the NCAA basketball tournament, March Madness in the mortgage industry began very early in March and will last beyond the NCAA Championship game on April 5. By adjusting their application best practices and keeping a keen eye out for upsets for the next few months, lenders can stop upsets before they happen and avoid a busted bracket.
MBA NewsLink interviewed MBA Associate Vice President of Commercial/Multifamily Sharon Walker, who represents MBA members active in multifamily finance. She advocates on policy issues primarily related to Fannie Mae, Freddie Mac and the Federal Housing Administration and oversees numerous related committees, working groups, councils and events.
Today’s customers live online and expect relevant, personalized content and messaging that resonates with their individual wants and needs. That leaves plenty of opportunity for lenders to connect with this massive cohort by providing value and education.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance fell by 9 percent to 5.05% of mortgage servicers' portfolio volume as of March 14 from 5.14% the week earlier--the lowest level in nearly a year. MBA estimates 2.5 million homeowners are in forbearance plans.
