Omar Jordan is Founder and CEO of LenderClose, West Des Moines, Iowa, a fintech that quips loan originators with the workflows needed to boost efficiencies and shorten the lending cycle through streamlined and meaningful integrations.
Category: News and Trends
1Q Distressed CRE Debt Drops
More U.S. commercial real estate distress was worked out than arose in the first quarter, reported Real Capital Analytics, New York.
Black Knight: Delinquency Rate Falls Below 5% for First Time Since Pandemic
Black Knight, Jacksonville, Fla., said the national mortgage delinquency rate fell by more than 7 percent in April to below 5 percent for the first time since onset of the coronavirus pandemic.
MBA Asks 6-Month Delay of Debt Collections Proposed Rule Effective Date
The Mortgage Bankers Association, in a May 19 letter, asked the Consumer Financial Protection Bureau to delay the effective date of its final rule amending the Fair Debt Collection Practices Act.
FHFA Announces GSEs’ Proposed Duty to Serve Underserved Markets Plans for 2022-2024
The Federal Housing Finance Agency published proposed 2022-2024 Underserved Markets Plans submitted by Fannie Mae and Freddie Mac under the Duty to Serve program. The proposed Plans cover the period from January 1, 2022 to December 31, 2024.
MBA, Trade Groups Weigh in On Private Flood Insurance
The Mortgage Bankers Association and 10 other industry organizations commented on private flood insurance questions and answers published by regulatory agencies.
TransUnion: Consumer Credit Performance Improving, Demand Increasing
TransUnion, Chicago, said despite shockwaves felt from the COVID-19 pandemic, the consumer credit market is strongly positioned as many parts of the country prepare to enter new phases of re-opening this summer.
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“The industry is not more difficult to originate in; it is absolutely wide open, which is why we are starting to see competing fintechs enter the home equity lending space. And values continue to rise which increases the potential for equity lending. We are not going to see market values slowdown anytime soon.”
–Omar Jordan, Founder & CEO of LenderClose, West Des Moines, Iowa.
Share of Mortgage Loans in Forbearance Falls to 4.22%
Loans in forbearance fell for the 11th consecutive week to 4.22% of servicers’ portfolio volume as of May 9, the Mortgage Bankers Association reported Monday.
(The New Normal) Jane Mason: With Right Technology, Servicers Proved Remote Teams Can Excel
Mortgage servicing has certainly seen ups and downs over the years, although nothing compares to the level of upheaval that we saw last year—nor the speed at which it occurred. Out of the chaos, however, new opportunities to excel have emerged, and perhaps the biggest one of all has been the ability to run a remote workforce with success.