Industry Briefs Apr. 18, 2022: Wells Fargo Expands Efforts to Advance Racial Equity in Homeownership

Wells Fargo, San Francisco, announced an initiative to help advance racial equity in homeownership. The company will develop a Special Purpose Credit Program to help minority homeowners, whose mortgages are currently serviced by Wells Fargo, refinance those mortgages. Initially, through the program, Wells Fargo will identify eligible Black homeowners who could benefit from a refinance product.

MBA Chairman Kristy Fercho Hits the Ground Running

SAN DIEGO—Kristy Fercho has achieved a lot of “firsts” in her lifetime—the first Black woman to lead a major U.S. mortgage operation (at Flagstar Bank); the first Black woman to run the mortgage operations at Wells Fargo; and, as of Sunday, the first Black woman to serve as Chairman of the Mortgage Bankers Association. Her legacy, she says, will be to ensure that she is not the last such person.

MBA Chairman Kristy Fercho Hits the Ground Running

SAN DIEGO—Kristy Fercho has achieved a lot of “firsts” in her lifetime—the first Black woman to lead a major U.S. mortgage operation (at Flagstar Bank); the first Black woman to run the mortgage operations at Wells Fargo; and, as of Sunday, the first Black woman to serve as Chairman of the Mortgage Bankers Association. Her legacy, she says, will be to ensure that she is not the last such person.

Builder Confidence Steadies as Material, Labor Challenges Persist

The National Association of Home Builders reported builder confidence inched up in September on lower lumber prices and strong housing demand, even as the housing sector continues to grapple with building material supply chain issues and labor challenges.

Builder Confidence Edges Lower as Material Challenges Persist

Strong buyer demand partially offset building material supply-side challenges, regulation and labor as builder confidence in the market for newly built single-family homes inched down one point to 80 in July, the National Association of Home Builders/Wells Fargo Housing Market Index reported.

Industry Briefs May 13, 2021

DiversityInc announced its annual list of the Top 50 Companies for Diversity, which serves as a benchmark of how the largest employers in U.S. are doing when it comes to hiring.

Industry Briefs Feb. 25, 2021

Finicity, Salt Lake City, announced its one-touch Mortgage Verification Service, enabling lenders to allow consumers to permission data so lenders can verify assets, income and employment in a single interaction. The verification is accepted by both Freddie Mac and Fannie Mae.

Strong Buyer Demand Keeps Home Builders Optimistic

Strong buyer demand helped offset supply chain challenges and a surge in lumber prices as builder confidence in the market for newly built single-family homes edged up, the National Association of Home Builders reported yesterday.

Builder Confidence Dips from Record Highs, But Stays Strong

Builder confidence in the market for newly built single-family home fell for the first time in three months in December, but remained strongly optimistic, the National Association of Home Builders reported yesterday.

Andrew Foster: CMBS Market Musings

Taken together, the analysis from industry thought leaders indicates that CMBS will continue to have challenges with existing loans through 2021 as new issuance remains robust for agency MBS and at a tepid pace for conduit transactions. Challenges with maturing loans are starting as well; however, 2022 will bring a major wave of those loans.