Volume 20 Issue 226

Tuesday, November 23, 2021

October Existing Home Sales Edge Up 0.8%

Existing home sales rose in October for the second straight month, albeit just slightly, the National Association of Realtors reported Monday.

MISMO Issues Call for Participants to Streamline Exchange of Pre-Closing Title Data

MISMO®, the real estate finance industry's standards organization, seeks participants for an initiative focused on standardizing pre-closing title document datasets to streamline the business process and improve efficiency.

KBRA: Pandemic Shutdown Bifurcates Commercial Real Estate Market

Pandemic-related shutdowns and restrictions bifurcated the commercial real estate market based on its demand generators, reported Kroll Bond Rating Agency, New York.

MBA Chart of the Week: Ownership & Rental Vacancy Rates

The U.S. housing stock is full.

MBA Advocacy Update Nov. 22, 2021

On Friday, the House passed the most current version of President Biden’s Build Back Better Act legislation, largely along party lines. On Monday, HUD published its Annual Report to Congress on the financial status of the FHA’s MMI Fund. And on Wednesday, HUD released Mortgagee Letter 2021-27, which provides details regarding Fair Housing Act compliance with respect to FHA appraisals.

MBA VIDEOS

MBA Research Minute

mPower Moments: Laura Escobar of Lennar Mortgage

MBANow: James Sias of Huntington Bank

Eye on Washington

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TOP NATIONAL NEWS

High Home Prices, Fewer Refinances Drove 2021 Mortgage Risk Growth
A New Warehouse Record and a Handful of New Entrants
Housing Market Potential Strengthens Modestly

MBA NEWS

MBA Servicing Solutions Conference & Expo in Orlando Feb. 22-25
MBA Education Online School of Mortgage Banking I Nov. 29-Dec. 20
MBA/MISMO/ALTA Digital Closing & eMortgage Boot Camp in San Antonio Dec. 6-7
Updated MBA State Commercial Mortgage Licensing Resource Now Available

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MBA Offices Closed Nov. 25/26

Mortgage Bankers Association offices will be closed on Thursday, Nov. 25 and Friday, Nov. 26 in observance of the Thanksgiving holidays.

Quote

“Housing demand continues to be held back by insufficient supply. It was positive news that home sales increased for the second month in a row and at the fastest pace of sales since January. Similar to MBA’s recent weekly data on purchase mortgage applications, home sales are still running below last year’s elevated pace but have shown some renewed strength recently.” --Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

STATLINK

November 22, 2021

To the Point with Bob: Servicers are Helping Borrowers Through the Pandemic

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Policymakers have gone to great lengths to provide servicers and borrowers the tools they need to bring about a successful resolution in the vast majority of cases. I hope that policymakers will continue to allow servicers to do what they do best – help their customers.

November 22, 2021

MBA Announces 2022 Affordable Rental Housing Advisory Council

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The Mortgage Bankers Association announced members of its 2022 Affordable Rental Housing Advisory Council. The Advisory Councils on affordable rental housing and affordable homeownership were formed in 2019 to provide important strategic and practical guidance to MBA’s CONVERGENCE Initiative, the association’s affordable housing effort.

November 22, 2021

Dealmaker: Marcus & Millichap Closes $26M for Fla. Retail, Hotel

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Marcus & Millichap, Calabasas, Calif., closed $26.3 million in Florida retail and hotel transactions.

November 22, 2021

Industry Briefs Nov. 23, 2021: Fitch Says Banks Relatively Unscathed by Pandemic

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Fitch Rating, New York, said global financial institutions’ credit ratings have been affected less severely by the pandemic than by the two previous crises this century.

November 22, 2021

Tim Anderson of Evolve Mortgage Services: Second Time’s a Charm for eModifications

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Tim Anderson is President of the eMortgage Division for Evolve Mortgage Services, where he is responsible for overseeing deployment of the company’s digital closing platform and developing strategic partner relationships.

November 22, 2021

Call For Speakers: MBA Technology Solutions Conference & Expo; Deadline Jan. 7

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The Mortgage Bankers Association issued a Call for Speakers for its Technology Solutions Conference & Expo 2022, taking place April 11–14 at the Bellagio Las Vegas. Deadline for proposals is Friday, Jan. 7.

November 22, 2021

Keeping Current With Midland Loan Services’ David Harrison

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David Harrison is Chief Operating Officer with Midland Loan Services, Overland Park, Kan. He has a broad background in commercial real estate, including capital markets, asset management, underwriting, workouts, business development and client relations.

November 22, 2021

Brian Hale of Mortgage Advisory Partners on the Current Market for Consultants

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Brian Hale, a mortgage industry executive with more than 40 years of experience, recently launched a new consultancy business, Mortgage Advisory Partners, Newport Coast, Calif.

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