BREAKING NEWS
MBA Mortgage Credit Availability Index Falls to 9-Year Low
Mortgage credit availability fell in September for the seventh straight month to its lowest level since 2013, the Mortgage Bankers Association reported Tuesday.
The voting period for election of the Mortgage Bankers Association’s FY 2023 officers and new and returning directors is underway. Voting ends at 5:00 p.m. ET on Friday, Oct. 14.
Reports from Fitch Ratings, New York, and Veros Real Estate Solutions, Santa Ana, Calif., forecast sharp declines in home price appreciation over the next year.
The good news: all 34 banks the Federal Reserve’s recent stress tests examined passed. The not-so-good news: the tests found potential risks in certain loan portfolios including commercial real estate, said DBRS Morningstar, New York.
In this week’s MBA Chart of the Week, we show the stock of occupied homes in the U.S. by the decade built and by building type. The chart indicates that the housing stock in the U.S. is aging.
Constellation Mortgage Solutions provides industry-leading lending technology solutions through its products: Mortgage Builder LOS, Mortgage Builder LSS, ReverseVision LOS and our new LOS - NOVA.
JLL, Chicago, sold a $387.5 million multifamily community with 408 market-rate units and 9,693 square feet of commercial space in Manhattan’s Murray Hill neighborhood.
MonitorBase, Murray, Utah, promoted Lilly Staniforth to vice president of business relations. She will focus on improving the company’s brand awareness and value proposition and building stronger client relationships.
Attorney opinions, in providing more limited coverage of title risks, represent a shifting of risk to the lender because they are responsible for representations and warranties for the life of the loan that pertain to clear title and first-lien enforceability.
Speaking opportunities for breakout sessions continue to be accepted for The Mortgage Bankers Association’s Servicing Solutions Conference & Expo 2023, taking place February 21–24 at Hyatt Regency Orlando.
Shelley Leonard is President of Xactus, Broomall, Pa., a provider of verification for the mortgage industry, and is also a member of the Board of Directors. James Owens is Chief Technology Officer with Xactus.
Appraisal bias, or when an appraiser considers illegal factors such as the race of the homeowner or the racial makeup of a neighborhood when determining the fair market value of a property, doesn’t sound like a problem that should occur in 2022, but it regularly does.
Using insights, inspirations and proven principles he has applied to his legendary teams and coaching career, Mike Krzyzewski (“Coach K”) sits down with 2023 MBA Chairman Matt Rocco to discuss clear, passionate guidelines on reaching for and achieving success at the MBA Annual Convention & Expo on Tuesday, Oct. 25.
