SAN DIEGO – The Mortgage Bankers Association said $331.2 billion of the $2.8 trillion (12 percent) of outstanding commercial and multifamily mortgages held by non-bank lenders and investors will mature in 2023, a 33 percent increase from the $249 billion that matured in 2022.
Category: News and Trends
Sponsored Content from ACES Quality Management: Maximizing Servicing Revenue Requires Stringent QC Processes
Air-tight QC policies and procedures are central to lenders’ ability to rely on servicing revenue in a down market.
#MBACREF23: PNC, Wells Fargo Lead MBA 2022 Year-End Commercial/Multifamily Servicer Rankings
SAN DIEGO–The Mortgage Bankers Association on Monday released its year-end ranking of commercial and multifamily mortgage servicers’ volumes as of December 31, 2022.
RIHA Releases Collection of Essays on Impact of Climate Change on Real Estate Finance
The Mortgage Bankers Association’s Research Institute for Housing America published a new collection of essays addressing the impacts of climate change on the real estate finance industry.
Foreclosure Activity Up 21st Straight Month
ATTOM, Irvine, Calif., said January foreclosure filings rose by 36 percent from a year ago and by 2 percent from December, although they remained low by historical standards.
The Townstone Decision: Implications for the CFPB and Mortgage Banks
Last week, a court decision dealt a significant blow to the Consumer Financial Protection Bureau’s enforcement authority—and it has broad implications for the nation’s independent mortgage banks as well.
CFPB Issues Guidance on ‘Pay to Play’ Digital Comparison-Shopping Platforms
The Consumer Financial Protection Bureau on Tuesday issued an advisory opinion aimed at digital mortgage comparison-shopping platforms.
Quote (Feb. 14)
“No lender has challenged this redlining theory before, since the 1990s, when DOJ and the banking regulators started using this redlining theory against banks. This is a first. I think the CFPB was trying to get a settlement against a non-bank; Townstone was a tiny mortgage company in 2017 and the Bureau thought it would probably just roll over.”
–Richard Horn, Co-Managing Partner of Garris Horn LLP, Tucson, Ariz.
MBA Servicing Solutions Conference and Expo in Orlando Feb. 21-24
The Mortgage Bankers Associations Servicing Solutions Conference & Expo, Roadmap to Servicing Success, takes place Feb. 21-24 at the Hyatt Regency Orlando.
MBA Letter Voices Concerns Over FHFA DTI-Based LLPA
The Mortgage Bankers Association on Friday sent a letter to the Federal Housing Finance Agency expressing concerns regarding recently announced changes to loan-level price adjustments by Fannie Mae and Freddie Mac, particularly addition of an LLPA based on debt-to-income ratio.