BREAKING NEWS
Broeksmit Keynotes MBA Regulatory Compliance Conference; Loans in Forbearance Fall Again
WASHINGTON—Mortgage Bankers Association President & CEO Robert Broeksmit, CMB, told attendees here at the MBA Regulatory Compliance Conference as Congress and the Biden Administration put plans into shape, the Association will continue to seek balance and advocate for the real estate finance industry.
Forbearance exits saw their fastest pace since March, the Mortgage Bankers Association reported Monday afternoon in its weekly Forbearance and Call Volume Survey.
The Biden Administration on Monday nominated Alanna McCargo as President of Ginnie Mae.
As the House Financial Services Committee this week begins the reconciliation process for a number of fiscal 2022 legislative and budget priorities, the Mortgage Bankers Association sent a letter to Committee leadership offering support for several programs and recommendations for others.
Delinquency rates of mortgages backed by commercial and multifamily properties have broadly improved in recent months, according to two new Mortgage Bankers Association reports.
Commercial and multifamily property prices are the product of two things: a) the net operating income (NOI) a property produces and/or is expected to produce and b) the multiple of that income (the capitalization or “cap” rate) investors are willing to pay in order to own that income stream.
On Aug. 30, Mortgage Professional America reported “Independent mortgage banks and mortgage subsidiaries of chartered banks reported hefty declines in their profit in the second quarter of 2021.”
Strengthening mortgage accessibility industry-wide is not a burden, but an opportunity that should be embraced. Every qualified loan is good business and new affordability goals and programs instantly broaden the marketplace of eligible buyers.
Newmark, New York, arranged $230 million to refinance The West Hollywood Edition Hotel on Sunset Boulevard in Los Angeles.
MBA CONVERGENCE presents the next in its Webinar Series, Mayors and Affordable Housing: Perspective from City Hall, on Thursday, Sept. 16 from 1:30-2:15 p.m. ET.
Prashant Kothari is Managing Director of SitusAMC’s Title Production Services and has nearly three decades of mortgage and title industry experience. He began his career in the mortgage division of Kidder, Peabody & Co. followed by multiple roles at Freddie Mac, including working in the Freddie’s Office of the President.
MBA Education’s popular Certified Mortgage Compliance Professional certification and designation program recently awarded the CMCP designation to the first mortgage professional to complete all three levels of the program.
Registration for the Mortgage Bankers Association’s Annual Convention & Expo, taking place Oct. 17-20 at the San Diego Convention Center, is officially open. Join MBA in San Diego as New York Times best-selling authors Malcolm Gladwell and Brad Meltzer keynote General Sessions.
On Thursday, five House committees, including the House Ways and Means Committee, began to consider their respective reconciliation bills as a non-binding September 15 deadline approaches. Also last week, the Federal Housing Finance Agency announced the GSEs will submit Equitable Housing Finance Plans that will identify and address barriers to sustainable housing opportunities.
