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Volume 21 Issue 138

Thursday, July 21, 2022

Existing-Home Sales Fall 5.4% in June

Existing-home sales dropped for the fifth straight month in June, the National Association of Realtors reported Wednesday.

Buyers Gaining Time, Options as Competition Eases

House shoppers are finding more options to choose from, more time to make decisions and even price cuts in some areas, according to Zillow, Seattle.

DBRS Morningstar: Solid Credit Performance for Non-QM RMBS

The credit performance of residential mortgage-backed securities backed by non-Qualified Mortgage loans rated by DBRS Morningstar remained steady in the first half of 2022, the ratings firm reported.

MBA Weekly Survey July 20, 2022: Mortgage Applications Decrease

Mortgage applications decreased 6.3 percent from one week earlier, reported the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 15, 2022.

MBA VIDEOS

MBANow: Dan Bailey from WFG Enterprise Solutions

MBANow: Dan Bailey from WFG Enterprise Solutions

MBA Eye on Washington

MBA Eye on Washington

MBA Research Minute

MBA Research Minute

mPower Moments: On Being a CRE Leader with M&T Realty Capital’s Christine Chandler

mPower Moments: On Being a CRE Leader with M&T Realty Capital’s Christine Chandler

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TOP NATIONAL NEWS

Frank Nothaft, Former Freddie Mac Chief Economist, Communicated Complex Ideas Simply
Challenges Ahead as Home Sales, Mortgages, Refinances Continue to Fall
Mortgage Applications Drop to Lowest Level Since Early 2000
Housing Affordability Set to Drop to 2007 Levels This Year
Multifamily Lending to Slow Down for the Rest of This Year
In Spite of Worries About Inflation, Retail Leasing Has Been on a Roll
Burned by the Housing Market, Americans Are Moving to Europe
European Central Bank Expected to Raise Rates at Meeting
To Boost Affordable Housing, a New York Bank Launched an Investment Fund

MBA NEWS

MBA Education Webinar July 21: Mortgage Servicers: Take Back Control to Accelerate and Modernize Borrower Communications
MBA Education Webinar July 21: Special Purpose Credit Program Toolkit: Overview and Walkthrough
MBA Human Resources Symposium Sept. 8-9
Make Your Voice Heard through MBA Mortgage Action Alliance

Quote

"Those who can weather this storm of rising costs are having an otherwise less stressful buying experience compared to the pandemic-fueled rush on real estate in 2021. They have more options to tour, more time to find the right house, and are less likely to face a bidding war." --Jeff Tucker, Senior Economist with Zillow, Seattle.

STATLINK

Industry Briefs From SoftWorks AI, Ginnie Mae, Calque Partners

SoftWorks AI, New York, launched an extensive rebrand, including changing its name to TRUE.

July 20, 2022

MBA Premier Member Profile: Salesforce

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Salesforce is the #1 CRM, bringing companies and customers together in the digital age.

July 20, 2022

MBA Home For All Pledge Partner: United Community Bank

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(One in a series of profiles of MBA member companies that have signed the MBA Home For All Pledge, an initiative to promote inclusion in housing.)

July 20, 2022

Dealmaker: Stonehill Originates $80M for Extended-Stay Hotel Portfolio

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Stonehill, Atlanta, originated a $79.8 million bridge loan for New York-based Churchwick Partners to acquire and recapitalize a 12-property extended-stay hotel portfolio.

July 20, 2022

Trepp: Bank Loans Outperforming CMBS Loans

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Trepp, New York, said the bank-issued commercial real estate loans it tracks generally performed better than commercial mortgage-backed securities loans last year.

July 20, 2022

Jim Rosen of Mortgage Cadence: How the Right Services Strategy Promotes Loan Origination Efficiency

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Jim Rosen is Executive Vice-President of Services at Mortgage Cadence and has more than 20 years of experience in the mortgage software and services industry. He has been with Mortgage Cadence for nearly eight years and was instrumental in launch of the company’s new MCP loan origination platform.

July 20, 2022

Joe Ludlow of Advantage Systems: The Importance of Tracking Every Dime in a Rising-Rate, Recessionary Mortgage Market

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The reality is that most lenders will see their volumes drop regardless of what they do, so they are also looking for additional strategies for staying profitable; one place to affect meaningful change is in lowering existing operational costs.

July 20, 2022

Former House Speaker Paul Ryan Keynotes MBA Annnual22 Opening General Session

Former House Speaker Paul Ryan, R-Wis., keynotes the Opening General Session at the Mortgage Bankers Association's Annual Convention & Expo on Monday, Oct. 24 at 8:30 a.m. CT.

July 20, 2022

June Purchase Mortgage Applications for New Homes Decreased 12%

Mortgage applications for new home purchases decreased 12 percent compared to a year ago, the Mortgage Bankers Association’s Builder Application Survey reported.

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