National Mortgage News, Feb. 5, 2020–Brad Finkelstein (subscription)The U.S. mortgage business remained a bright spot for Genworth Financial, whose fourth quarter adjusted operating income increased by 29 percent.https://www.nationalmortgagenews.com/news/genworths-u-s-mortgage-insurance-business-nearly-doubles-in-4q19
MBA Newslinks Archive
Allstate, Chubb Profits Rise on Disaster Claim Decline, Premium Growth
Wall Street Journal, Feb. 5, 2020–Leslie Scism (subscription)Property-and-casualty insurance giants Chubb Ltd. and Allstate Corp. posted strong profit gains in the fourth quarter, thanks to fewer catastrophe claims and premium …
Coronavirus Could Push Mortgage Rates to All-Time Low
HousingWire, Feb. 5, 2020–Kathleen HowleyAn increase in competition for bonds means investors, including the people who buy mortgage-backed bonds, have to take lower yields. That translates into lower mortgage rates.https://www.housingwire.com/articles/coronavirus-could-push-mortgage-rates-to-all-time-lows/
JPMorgan Mulls Return to FHA-Backed Mortgages After Era of Fines
American Banker, Feb. 5, 2020FHA insured $215 billion in loans last year, representing more than 11% of mortgages issued in the U.S., according to HUD. Banks can use the loans …
#MBAIMB20: ‘Speeches about Breaches’–Security Risks in the IMB Backyard
NEW ORLEANS—Data breaches aren’t going away. For independent mortgage banks and other financial institutions, the likelihood of being hacked is more likely “when,” not “if.”
Weekly Mortgage Refinance Applications Jump 15% as Interest Rates Plunge to Lowest Level in Nearly 4 Years
CNBC, Feb. 5, 2020–Diana OlickRefinance demand pushed mortgage application volume up 5% for the week to the highest level since 2013, according to the Mortgage Bankers Association’s seasonally adjusted index. …
#MBAIMB20: Mortgage Market Outlook for IMBs
NEW ORLEANS—Last year at the Mortgage Bankers Association’s Independent Mortgage Bankers Conference, the outlook for the economy and IMBs seemed a bit bleaker. “We thought we were going to be chased off the stage,” quipped MBA Vice President of Industry Analysis Marina Walsh.
The Pendulum Swings Back: Homeowners 4X Likely to be Equity-Rich than Seriously Underwater
In another sign of the times that the housing market—and homeowners—have largely recovered, ATTOM Data Solutions, Irvine, Calif., said equity-rich properties now outnumber seriously underwater properties by a four-to-one margin.
Apply Now for MBA Path to Diversity Scholarship Program
The Path to Diversity Scholarship Program recognizes existing industry professionals who are seeking to advance their careers through continuing education. Recipients receive a voucher to cover course registration fees, up …
MBA Education Webinars Now Free to MBA Members
MBA member companies in good standing now have more MBA benefits to celebrate, including complimentary access to all online education webinars and webinar recordings. https://www.mba.org/members/member-resources/member-benefits