The Federal Reserve’s Federal Open Market Committee held interest rates steady July 30.
Category: News and Trends
Tapping Into Home Equity: MBA Q&A With BSI Financial Services’ Allen Price
MBA NewsLink recently interviewed Allen Price, senior vice president with BSI Financial Services, about how high rates, rising home equity and product innovation are reshaping the second-lien market and what that means for lenders, investors and servicers.
Bob Broeksmit’s Latest Blog Posts on Credit Score Modernization, VA Home Loan Program Reform Act
MBA President and CEO Bob Broeksmit, CMB, recently authored two new blogs commenting on industry happenings.
Jobs Up by 73,000 in July Amid May, June Revisions; Industry Economists Weigh In
Total nonfarm payroll employment increased by 73,000 in July and the unemployment rate stood at 4.2%, the U.S. Bureau of Labor Statistics reported Aug. 1.
Matic: Home Insurance Affordability Crisis Grows
The housing market face growing challenges as homeowners’ insurance affordability concerns and coverage limitations persist, according to Matic, Columbus, Ohio.
Chart of the Week: 2024 HMDA Respondents
A total of 4,758 companies reported lending activity under the Home Mortgage Disclosure Act (HMDA) in 2024, according to MBA’s analyses of the dataset.
MBA Supports Nominations of Joe Gormley, Frank Cassidy to Lead Ginnie Mae and Federal Housing Administration
MBA President and CEO Bob Broeksmit, CMB, released two statements over the weekend supporting the nomination of Joe Gormley to serve as President of Ginnie Mae and Frank Cassidy to be Commissioner of the Federal Housing Administration.
Servicing Quote of the Week
“With close to $35 trillion of homeowner equity in residential real estate and many homeowners locked into low-rate first mortgages, HELOCs and home equity loans have become the product of choice for many homeowners.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
Premier Member Editorial: It’s Time to Rethink Mortgage Servicing. Here’s Why.
STRATMOR Group Senior Partner Michael Grad says too many still treat mortgage servicing like a side business rather than a strategic asset. “That needs to change.”
Redfin: More Than $50B in Los Angeles Homes Impacted by January Fires
Redfin, Seattle, reported that $51.7 billion in homes in Los Angeles–amounting to about 11,000 residential properties–were impacted by January’s Palisades fire.