NEW ORLEANS–In the face of a difficult business climate, the Mortgage Bankers Association is fighting for Independent Mortgage Bankers every day to ensure they can deliver for borrowers, MBA President and CEO Robert Broeksmit, CMB, said here at MBA’s Independent Mortgage Bankers conference.
Category: News and Trends
Optimal Blue: December Brought Significant Growth in Rate/Term Refinance Volume
Interest rate drops in late 2023 spurred big changes, including a 43% increase in rate/term refinance volume between November and December, according to Optimal Blue, Plano, Texas.
New MBA Commercial Property Inspection Form Reflects Industry Collaboration
As of Jan. 1, a new property inspection form now exists for use within the commercial real estate industry. Part of an industry and MBA effort, the new form is called the MBA Standard Inspection Form.
MBA: Share of Mortgage Loans in Forbearance Decreases to 0.23% in December 2023
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 3 basis points from 0.26% of servicers’ portfolio volume in the prior month to 0.23% as of Dec. 31, 2023.
Matic: Challenges in Home Insurance Market Likely to Continue
Matic, Columbus, Ohio, in a recent year-end report noted 79% of mortgage lenders experienced an increase in problems with home insurance in the past year, among other challenges. Moreover, the company predicted such challenges may persist into 2024.
MBA Chart of the Week: End of Quarter Delinquency Status
Ongoing challenges in commercial real estate markets pushed the delinquency rate on CRE-backed loans higher in the final three months of 2023.
Call for Nominations: MBA NewsLink 2024 Tech All-Star Awards
The MBA NewsLink 2024 Tech All-Star Awards nomination period is underway.
MBA Announces Support for H.R. 7024, the Tax Relief for American Families and Workers Act of 2024
On Jan. 16, Sen. Ron Wyden, D-Ore., and Rep. Jason Smith, R-Mo., released H.R. 7024, the Tax Relief for American Families and Workers Act of 2024. The Mortgage Bankers Association strongly supports the bipartisan, bicameral bill.
Servicing Quote Tuesday, Jan. 23, 2024
“The overall performance of servicing portfolios–particularly government loans–declined in December. Factors such as seasonality, a changing labor market, resumption of student loan payments, and the rise in balances on other forms of consumer debt are likely at play.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
MISMO Releases 2023 Annual Report at Winter Summit
MISMO, the real estate finance industry’s standards organization, released its 2023 Annual Report at its 2024 Winter Summit. The MISMO Annual Report outlines the organization’s progress toward creating essential standards designed to solve key business challenges.