Volume 22 Issue 82

Monday, May 01, 2023

MBA Advocacy Update May 1, 2023

MBA President and CEO Bob Broeksmit, CMB, and staff continue to urge the Federal Housing Finance Agency to remove the unworkable debt-to-income price adjustment that was part of recent changes to Fannie Mae’s and Freddie Mac’s loan-level price adjustments announced in January.

Banking, Financial Services Set to Become Largest Investors in AI

The real estate finance industry has long suffered a reputation for lagging other sectors in technology adoption. That perception could soon change, said JLL, Chicago.

MBA Chart of the Week Apr. 28, 2023: Commercial/Multifamily Mortgage Debt Outstanding

Two questions have dominated the CRE headlines of late: a) the reliance of banks on commercial real estate and b) the reliance of commercial real estate on banks. We addressed the former in a previous Chart of the Week.

MBA Education/MISMO Webinar TODAY: Timeline and Updates for FHFA Credit Scoring Changes

MBA Education and MISMO hold a timely webinar, Timeline and Updates for FHFA Credit Scoring Changes, on Monday, May 1 from 1:30-2:30 p.m. ET.

Dealmaker: Northmarq Arranges $51 Million for San Diego Industrial Park

Northmarq recently closed $51.25 million in acquisition financing for Rose Canyon Business Park, a large multi-tenant industrial park in San Diego.

MISMO Recruiting Industry Professionals to Participate in New Group Focused on Reverse Mortgage Lending

MISMO®, the real estate finance industry standards organization, issued a call for participants to join a new development workgroup focused on analyzing and developing standards for reverse mortgages.

MBA VIDEOS

MBA Eye on Washington

MBA Digest: Conversations about QC

mPower Moments: Amber Lawrence on Mentorship

MBA Research Minute

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TOP NATIONAL NEWS: MAY 1, 2023

Changes are Coming to Some Mortgage Fees Next Month
Fannie, Freddie Increasing ‘Debt’ Fees on Borrowers This Summer
First Republic Bank Is Seized, Sold to JPMorgan in Second-Largest U.S. Bank Failure
Bills Seek to Roll Back Recent Change to Mortgage Pricing
The Building Boom Is Prolonging Market Pain
Mortgage M&A Activity in 2022 and 2023: A List
U.S. Consumer Spending Plateaus; Core Inflation Remains Strong
FHLB Loans Rose to Record $1 Trillion During Banking Crisis
PennyMac Financial Q1 Profit Down 82.5% YOY
Fed Says It Failed to Act on Problems That Led to Silicon Valley Bank Collapse
Real Estate Proves Fertile for Fraud
FHA Gaining Popularity Among Borrowers, Home Sellers

MBA NEWS: MAY 1, 2023

MISMO Servicing Transfer Standards and Data Discovery Workshop May 9 in Reston, Va.
MBA Education Workshop May 2: Fundamentals of Mortgage Banking for Legal Professionals
MBA Education Virtual Workshop May 15: Fundamentals of Mortgage Banking for Secondary Marketing Professionals
About the MBA Career Center

STATLINK

Quote: May 1, 2023

“Banks are actively enhancing their digital strategy by adopting new automated solutions to improve efficiency and provide better experiences for both clients and employees. AI and machine learning are transforming the banking industry and enabling organizations to remain competitive and relevant." --Giles Wrench, Vice-Chairman of Financial Services with JLL, Chicago.

The Week Ahead, May 1, 2023: The Fed, Jobs Reports; and Countdown to MBA Spring Conferences

The Federal Open Market Committee holds its regularly scheduled policy meeting this Tuesday, May 2 and Wednesday, May 3, issuing its policy statement at 2:00 p.m. ET on Wednesday.

April 28, 2023

Sponsored Content from Wolters Kluwer: Rethinking Digital Lending in A Down Market; Focus on What You Need and Then Start Where You Can

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This article will discuss the benefits re-engaging digital initiatives on a more modest scale in the current environment in order to be ready for when the market normalizes.

April 28, 2023

People in the News May 1, 2023: Vanguard University Names School of Business after New American Funding’s Patty Arvielo

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Vanguard University, Costa Mesa, Calif., an Hispanic-Serving Institution announced naming of the Patty Arvielo School of Business and Management; it is the first business school in the U.S. to be named after a Latina.

April 28, 2023

MBA Education Path to Diversity Scholar Profile: Lauren Tabas

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Lauren Tabas is Business Control Director with Cenlar FSB, Ewing, N.J. She previously served as partner with a law firm in Philadelphia.

April 28, 2023

Ben Teerlink of MMI: Why Outsourcing Business Intelligence is the Smart Choice

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With the right partner, outsourcing can beef up expertise in a particular area without bringing on the expense of a full-time employee – a role reversal of sorts from the traditional labor shortage/cost containment use case.

April 28, 2023

Veronica Nguyen of BeSmartee: Marketing Mistakes Lenders Make

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Marketing is a critical aspect of any successful business, and it's essential to understand the steps involved in attracting and retaining customers. In times when mortgage volume is down, marketing departments need to execute a strategy that not only attracts new customers but one that can retain those customers as well.

April 28, 2023

Scott Kriss of Kriss Law/Atlantic Servicing & Escrow on Why Lenders Should Pay More Attention to the Title Business

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Scott Kriss grew up in New England as the son of two small business owners. When he founded his law firm, Kriss Law, in suburban Boston in 2004, he didn’t immediately foresee that it would grow to become a national title and closing services provider with the aid of its sister business, Atlantic Closing & Escrow.

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One Voice. One Vision. One Resource. The Mortgage Bankers Association (MBA) is the national association representing the entire real estate finance industry. For more information visit us at our website.

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan | 202/557-2855

Editorial Director: Michael Tucker | 202/557-2851

Advertising Opportunities: Bill Farmakis | 203/834-8832