Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $223 on each loan they originated in the first quarter, a sharp drop from a reported gain of $1,099 per loan in the fourth quarter, the Mortgage Bankers Association reported Tuesday.
Category: News and Trends
CFPB Bolsters Enforcement Efforts by States
In another effort to promote enforcement of consumer protection laws, the Consumer Financial Protection Bureau last week issued an interpretive rule that supports states’ authorities to pursue lawbreaking companies and individuals that violate provisions of federal consumer financial protection law.
MBA Chart of the Week May 20, 2022: ARM Loan Trends
The recent increase in the adjustable-rate mortgage share of applications has caught the attention of market participants and the media. The ARM share has increased from 3.1 percent in the first week of January to 10.3 percent as of the week ending May 13, peaking at 10.8 percent the week prior.
MISMO Issues MI Version 3.4 Implementation Guide for Electronic Ordering of MI Requests, Commitments
MISMO®, the real estate finance industry standards organization, launched an updated Mortgage Insurance Version 3.4 Implementation Guide.
MBA Vice Chair Mark Jones Testifies on Capitol Hill
Mortgage Bankers Association Vice Chair Mark A. Jones testified Wednesday on behalf of MBA before the House VA Subcommittee on Economic Opportunity.
#MBASecondary22: Ginnie’s McCargo, FHFA’s Thompson Look Ahead
NEW YORK—As with the mortgage industry, government agencies also had to transition quickly during the coronavirus pandemic.
Highlights of MBA’s Revised May Forecasts
The Mortgage Bankers Association released its revised monthly Economic Forecast and monthly Mortgage Finance Forecast. Here are highlights and commentary from MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.
#MBASecondary22: A Volatile Economic Outlook
NEW YORK—The mortgage industry is coming off two of its best years in history, despite a temporary but economically devastating pandemic. Now, economists said here at the MBA National Secondary and Capital Markets Conference & Expo, the industry is entering a more challenging environment.
#MBASecondary22: Ginnie’s McCargo, FHFA’s Thompson Look Ahead
NEW YORK—As with the mortgage industry, government agencies also had to transition quickly during the coronavirus pandemic.
#MBASecondary22: Cyber Crimes: How to Protect Your Company
NEW YORK—With fraud, data hacks and ransomware on the rise, cyber crime is a more visible threat to financial services companies.