BREAKING NEWS
Applications Plunge in MBA Weekly Survey
Mortgage applications took a huge hit last week, falling to their lowest level in 25 years as interest rates rose to their highest level since 2006, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending September 30.
The Mortgage Bankers Association commented on a proposed policy statement on commercial real estate loan accommodation and workouts published by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp. and the National Credit Union Administration.
CoreLogic, Irvine, Calif., said year-over-year home price growth slowed for the fourth consecutive month, with more metro areas likely to see further decreases in the coming months.
Zillow, Seattle, in partnership with ClimateCheck, reported areas with increased flood risk also see an increase in mortgage denials and in would-be borrowers withdrawing their mortgage applications, even after controlling for income and property value.
Moody's Investors Service, New York, said the supply and demand outlook for most property types in the securitized commercial real estate market improved slightly in the second quarter.
Consumer research sheds light on shifting payment trends offering lenders opportunities to improve customer engagement and drive more self-serve.
The Mortgage Bankers Association and CoreLogic, Irvine, Calif., announced establishment of the Dr. Frank Nothaft Memorial Fellowship Fund at Columbia University, in honor of the longtime CoreLogic Chief Economist who passed away suddenly in June.
In the first of four major jobs reports this week, the Bureau of Labor Statistics reported job openings plunged by more than 10 percent in August—a sign that the U.S. labor gap is starting to normalize.
Intercontinental Real Estate Corp., Boston, and MG Properties, San Diego, acquired The Lexington Apartments in Agoura Hills, Calif. for $87.3 million.
Jim Voth leads the Digital Mortgage practice at Falcon Capital Advisors, Washington, D.C., where he manages digital transformation engagements for GSE, government and banking clients.
Although it’s called Social, the S in ESG isn’t about social media so much as it’s about social intelligence and social responsibility.
As the mortgage industry continues to experience substantial changes, such as rising interest rates, home affordability issues, and an influx of layoffs for mortgage professionals, the entire industry is recognizing the need to adjust its operational strategies. Mortgage professionals need to be agile, quick and flexible to keep pace with the changing market, regulatory pressures, and borrower preferences.
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.
