Total nonfarm payroll increased by 228,000 in March, the U.S. Bureau of Labor Statistics reported.
Category: News and Trends
Chart of the Week: Effect of 2025 Announced Tariffs on Household Disposable Income
Since World War II, the consensus among economists has been pro-free trade with the attitude to tariffs summed up by JP Morgan’s David Kelly: “The trouble with tariffs, to be succinct, is that they raise prices, slow economic growth, cut profits, increase unemployment, worsen inequality, diminish productivity, and increase global tensions. Other than that, they’re fine.”
Servicing Quote of the Week
“It’s clear: Homeowners insurance and taxes are taking up an increasing share of a family’s monthly housing cost.”
–John Paasonen, Maxwell Co-founder and CEO
MBA Premier Member Editorial: Breaking the Bottleneck: How AI Accelerates the Lending Lifecycle
Tavant Touchless Lending’s Shannon Johnson writes that Artificial Intelligence is revolutionizing the mortgage landscape by addressing persistent challenges head-on.
MISMO Seeks Comment on SMART Doc V3 Security Instrument Specification
MISMO, the real estate finance industry’s standards organization, announced that it is seeking public comment on the SMART Doc V3 Security Instrument Specification. The 60-day public comment period will run through May 24, 2025.
MBA Statement on FHFA Order Rescinding Regulated Entity UDAP Compliance
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Federal Housing Finance Agency’s (FHFA) order that rescinds Advisory Bulletin 2024:06: Regulated Entity Unfair or Deceptive Acts or Practices (UDAP) Compliance.
Realtor.com: 2024 Down Payments Notch Record
Realtor.com, Santa Clara, Calif., reported down payments reached an average of 14.4% of the total home purchase price, with a median down payment of $29,900, in 2024. These were the highest numbers recorded since the firm began collecting the data.
Maxwell: Many American Homeowners Stressed About Cost, Availability of Insurance
Maxwell, Denver, found nearly half–or 46%–of American homeowners are currently questioning whether they can continue to afford their homes due to rising insurance and property tax costs.
Servicing Quote of the Week
“Housing equity growth slowed in 2024 versus 2020-2023 due to moderating price appreciation, but homeowners maintain substantial equity gains from prior years, preserving their strong financial position.” –Selma Hepp, Chief Economist for CoreLogic.
MISMO Seeks Comment on New Loan Boarding Data Standard
MISMO, the real estate finance industry’s standards organization, today announced that it is seeking public comment on the Loan Boarding Data Segment, which is the first published subset of the Industry Transfer of Servicing Dataset (ITSD). The 30-day public comment period runs through April 19, 2025.