Volume 22 Issue 37

Thursday, February 23, 2023

#MBAServicing23: FHA Announces 30bp Reduction in Mortgage Insurance Premiums

ORLANDO--The Federal Housing Administration announced here at the MBA Servicing Solutions Conference & Expo that it will reduce the mortgage insurance premiums it charges home buyers for its mortgage insurance.

#MBAServicing23: Jones: More Challenges Ahead for Servicers

ORLANDO--Mortgage Bankers Association Chairman-Elect Mark Jones kicked off the MBA Servicing Solutions Conference & Expo here with a thank-you to the mortgage servicing industry’s “heroic” work during the coronavirus epidemic, now in its third full year.

(#MBAServicing23) Government Agencies Stress Flexibility

ORLANDO—Representatives of government agencies here at the Mortgage Bankers Association’s Servicing Solutions Conference & Expo stressed their agility in addressing key issues facing mortgage servicers.

MBA: Mortgage Application Payments Increased 2.3% in January to $1,964

Homebuyer affordability declined in January, with the national median payment applied for by purchase applicants increasing 2.3 percent to $1,964 from $1,920 in December 2022, the Mortgage Bankers Association reported.

CoreLogic: December Single-Family Rent Price Growth Drops by Nearly Half

CoreLogic, Irvine, Calif., reported U.S. single-family rent price gains slowed in December for the eighth straight month on an annual basis.

MBA VIDEOS

MBA Eye on Washington

MBA Research Minute

MBA Membership: You Can Count on Us

MBANow: Ashley Wood of Equifax

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TOP NATIONAL NEWS: FEBRUARY 23, 2023

Forbearance Volume Falls Across All Investor Types in January
U.S. Mortgage Interest Rates Jump to Highest Level Since November – MBA
Buyers are on a Mortgage Rate Roller Coaster
Toll Brothers Had an Earnings Beat. Buyer Confidence Is on the Upswing, CEO Says.
How Hybrid Work Is Changing Offices of the Future
Little Distress Likely For Multifamily As 2023 Continues

MBA NEWS: FEBRUARY 23, 2023

MBA Legal Issues & Regulatory Compliance Conference in Austin May 7-10
MBA Secondary & Capital Markets Conference in NYC May 21-24
MBA Education School of Mortgage Banking III in Miami Mar. 21-24
MBA Releases DEI Playbook Member Resource

STATLINK

Quote: Feb. 23, 2023

"The lower premiums will expand homeownership opportunities by lowering mortgage payments for qualified FHA borrowers, providing critical relief from the steep rise in mortgage rates and home prices just in time for the spring buying season. This will especially help minority homebuyers and low-and moderate-income households who are predominantly served by FHA loans." --MBA President & CEO Robert Broeksmit, CMB.

Housing Market Roundup: Feb. 23, 2023

Here is a quick summary of recent housing news that have come across the MBA NewsLink desk:

MISMO Introduces New API Toolkit Updates

MISMO, the real estate finance industry standards organization, released MISMO API Toolkit Version 1.1, which includes updates to enhance efficiency in the development of new technologies to benefit the mortgage finance industry.

February 22, 2023

MBA: January Share of Mortgage Loans in Forbearance Decreases to 0.64%

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Loans in forbearance decreased by 6 basis points in January to 0.64% of servicers’ portfolio volume as of January 31, the Mortgage Bankers Association reported Tuesday.

February 22, 2023

MBA Weekly Survey Feb. 22, 2023: Mortgage Applications Decrease

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Mortgage applications decreased 13.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 17, 2023.

February 21, 2023

Industry Briefs Feb. 22, 2023: Homes Bought with Cash Down from November Peak

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Redfin, Seattle, said roughly one-third (31.2%) of U.S. home purchases were paid for with all cash in December, up from 28.8% a year earlier but down from the eight-year high of 31.9% hit in November.

February 22, 2023

Mark Walser of Incenter Appraisal Management on Maximizing the Integrity of Remote Appraisals

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During a challenging time for the mortgage industry, lenders are showing increased interest in appraisal management companies and appraisers who are fluent in these solutions.

February 22, 2023

Tim Nguyen of BeSmartee: Customer for Life–Think Beyond Customer Service

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Today, we’ll redefine what “for life” means in a new way, and in particular focus on the mortgage technology stack that follows your borrower each month for years, and that which will maximize your opportunity to serve again

February 22, 2023

Joe Camerieri of Mortgage Cadence: 3 Strategies for a Successful Spring Buying Season

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What will set winners apart from the rest is the strategy they choose and how they apply these and other tactics to achieve their goals. Settling on the right strategy for making the most of the upcoming spring homebuying season will make or break an institution’s mortgage lending business.

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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

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