BREAKING NEWS
Senate Passes $740 Billion Reconciliation Bill
The Senate on Sunday passed a $740 billion reconciliation package. And last Monday, the VA released Circular 26-22-13, implementing new appraisal procedures for VA purchase loans.
Total nonfarm employment jumped by 528,000 jobs in July, more than double consensus expectations and pushing the unemployment rate to 3.5 percent, the Bureau of Labor Statistics reported Friday.
Construction contractors remain cautiously optimistic a year after the industry’s post-pandemic comeback started in earnest, according to the 2022 Marcum National Construction Survey. Contractors reported being buoyed by the federal infrastructure bill, growing backlogs, and other tailwinds.
This MBA Chart of the Week examines the relationship between mortgage payments and asking rents since the second half of 2009. MBA’s national mortgage payment to rent ratio compares the national median and 25th percentile mortgage payments to the national median asking rent.
MISMO®, the real estate finance industry standards organization, seeks public comment on three key industry resources to help accelerate the industry’s digital transformation.
Fannie Mae, Washington, D.C., said mortgage lenders appear to be adapting their business priorities to meet what they believe are a new set of challenges, including weakened mortgage demand and rising rates.
Gantry’s Phoenix production office secured $35 million in permanent financing to refinance the Seven Apartments, a class A apartment community in north central Phoenix.
NewPoint Real Estate Capital, Chevy Chase, Md., promoted Susan Mudry to Chief Operating Officer.
According to a 2019 McKinsey study, lack of production data is the number one cause of poor hiring decisions across the mortgage industry.
Reimaging of the mortgage markets has begun—driven by shrinking margins, rising rates, and inflationary pressures. Yet, for all the actions since 2010 involving data standards, digital transformations, and customer experiences, what is missing? Who will be left standing as the next cycle takes form and the mortgage industry is digitally reimaged?
Lenders that hunkered down during the last two major industry downturns are no longer in the business, while those that leaned in and innovated during the same period emerged as industry leaders. Now is not the time for timidity. In fact, leading lenders are leaning into innovation now. There are at least three good reasons to do so.
Two years after the height of the COVID lockdown, there’s lots of new data available to prove (or disprove) some of the early predictions and observations regarding home buying patterns and trends.
Rita Moreno--Academy Award-winning actress, dancer and singer and recipient of the Presidential Medal of Freedom--keynotes the mPower Event at the Mortgage Bankers Association in Nashville, Tenn.
