HousingWire, Dec. 13, 2019–Kelsey RamirezFleq will launch next month in Pittsburgh, and instead of originating mortgages, its plan is to simply buy the home a purchaser wants and sell it …
MBA Newslinks Archive
Freddie Mac Offers Deal that Helps Pave the Way for Life without LIBOR
National Mortgage News, Dec. 13, 2019–Bonnie Sinnock (subscription)Freddie Mac launched a multifamily structured pass-through deal that includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate …
Fed’s Williams Says Central Bank Should Be Flexible as Data Evolves
Wall Street Journal, Dec. 13, 2019–Michael S. Derby (subscription)Federal Reserve Bank of New York President John Williams said Friday that the outlook for the U.S. economy remains pretty good but …
MBA Advocacy Update
Last week, a bipartisan group of members of Congress submitted a letter to House leadership voicing concerns about the use of VA Home Loan program fees as a spending offset to pay for other non-housing-related veterans’ benefits. On Tuesday, the Senate Banking Committee marked up Brian Montgomery’s nomination for the next Deputy Secretary of HUD.
Scott Colclough of Vice Capital Markets: Making the Jump to Advanced Executions
Shifting from best effort to mandatory execution marks a significant achievement in the evolution of a mortgage lending organization, as it represents a more sophisticated (and more profitable) secondary strategy. However, lenders are not always clear on the particulars to making this transition and, as a result, may be slower to change and/or experience a more difficult conversion process.
CSBS License Renewal Period Underway; Deadline Dec. 31
The Conference of State Bank Supervisors announced the start of the license renewal period for individuals and businesses that provide mortgage, money transmission, debt collection and consumer financial services to …
MBA Education Webinars Now Free to MBA Members
All 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
MBA Technology Solutions Conference & Expo 2020 Returns to L.A. Mar. 29-Apr. 1
Get a clear vision for the future at the biggest annual conference focused on technology solutions for businesses in the mortgage and commercial real estate finance industries. Join us at …
MBA Chart of the Week: IMB Production Costs
MBA in late November released its Quarterly Performance Report for the third quarter. The total sample of 338 independent mortgage banks and mortgage subsidiaries of chartered banks earned an average pre-tax production profit of $1,924 on each loan they originated–a substantial year-over-year improvement from $480 per loan in third quarter 2018.
The Week Ahead
Mid-December already? Christmas just nine days away? Weren’t we just complaining about holiday commercials in October? (Well, maybe you weren’t…)