BREAKING NEWS
MBA Mortgage Credit Availability Index
Mortgage credit availability fell for the fourth straight month in June amid rising interest rates, the Mortgage Bankers Association reported Tuesday.
Redfin, Seattle, said after months of tipping heavily in sellers’ favor, the scales of the housing market are “finally balancing out.”
U.S. hotel gross operating profit per available room fell in May. But GOPPAR surpassed its pre-pandemic comparable for a third consecutive month, reported STR, Hendersonville, Tenn.
In this week’s Chart of the Week, we turn to data from the longstanding MBA and STRATMOR Peer Group Roundtables Program), which recently wrapped up its Spring season for benchmarking lender performance across various production channels and peer groups.
Sales Boomerang, Owings Mill, Md., an automated borrower intelligence and retention system, and Mortgage Coach, Irvine, Calif., a platform enabling mortgage lenders to educate borrowers with interactive home loan presentations, announced their merger and appointed SaaS executive Richard Harris as CEO.
Gantry, San Francisco, secured $35.4 million to refinance a five-story, 200,000-square-foot single-tenant office building at 1601 Lind Ave SW in Seattle suburb Renton, Wash.
Jeff Coles is Vice President of Institutional Client Services with Berkadia, Washington, D.C. He leads Berkadia’s Single-Family Rental & Built-for-Rent specialty.
Rising interest rates and increased competition have loan officers scrambling for ways to win deals in today’s market. One tactic that has grown in popularity with borrowers and loan officers is rate lock renegotiations. However, these come at a high cost to lenders, and with margins already being squeezed, what seems prudent from a customer acquisition standpoint may actually work against lenders’ best interests.
In a short six months, the runaways for business and technology transformation have changed markedly. Additionally, mortgage lending will shrink to just over $2T as inflation as interest rates rise. Profit margins must now be achieved by restructuring digitally transformed processes that were thought to be “complete.” To survive—and prosper—organizations must adapt to widespread industry rebalancing.
MBA Director of Associate Membership Brad Padratzik discusses the competitive advantages of MBA Associate Membership.
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.
Earlier this year, the National Association of Minority Mortgage Bankers of America launched its Accredited Social Impact Lender program to give lenders (like you) and their teams the tools to make the CRA/LMI market a viable extension of their annual strategy. ASIL not only gives your team tools but also a whole mindset shift that will grow CRA/LMI into a profitable arm of your mortgage company’s lending mix.
