BREAKING NEWS
MBA Loan Monitoring Survey; MBA Purchase Applications Payment Index; HUD Expands Flood Insurance Options for FHA Mortgage Holders
The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance increased by 1 basis point to 0.70% of servicers’ portfolio volume from 0.69% in the prior month as of October 31.
Homebuyer affordability continued its downward trajectory in October, as the national median payment applied for by applicants increased 3.7 percent to $2,012 from $1,941 in September, according to the Mortgage Bankers Association's Purchase Applications Payment Index.
HUD on Monday announced it will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies that conform to FHA requirements from private insurance providers.
Despite a challenging capital markets environment and economic uncertainty, real estate investment trusts continue to post strong earnings performance, with a substantial majority of REITs that have reported to date beating analyst estimates, said JLL, Chicago.
This week’s Chart of the Week highlights data from Kastle Systems for November 3-9, showing the range of daily occupancy rates for 10 major metros. For these metros, the lowest average occupancy rate for a particular day of the week was 32.2 percent, and the highest was 56.0 percent, compared to essentially 100 percent occupancy pre-pandemic for most days.
With just a few races left to be finalized, Republicans secured a narrow House majority in the coming Congress earlier this week. And regardless of the December 6 Georgia runoff outcome, Democrats have retained their Senate majority. Leaders and key committee chairs in both chambers will be determined in the coming weeks.
Cenlar FSB, Ewing, N.J., promoted Nayda McKain to Vice President and Human Resources Business Partner.
More originators will look to partner with servicers that have the expertise to manage the regulatory and compliance requirements, which is undeniably the most critical factor to consider when choosing a servicer.
Souren Sarkar, CMB, is the president and co-founder of Nexval, a provider of technology-enabled mortgage services and fintech innovation for the financial services industry.
With interest rate hikes, recession talk and rising inflation defining themes for commercial real estate, MBA NewsLink asked three special servicing executives to get their takes on labor, property and capital market dynamics.
Today’s communications systems make it possible for mortgage servicers to take back control with business users at the helm over the authoring and management process through the point of sending it to the printer or digital systems that deliver or mail the communication. This gives servicers the opportunity to lower costs, reduce operational risk, and set up for a thriving digital future.
Nick Smith is Founder, Managing Partner and CEO of Rice Park Capital Management, a private investment firm managing various investment vehicles and venture capital funds on behalf of institutional investors, family offices and high net worth individuals.
