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Mortgage Bankers Association (MBA)

Apps for New Home Purchases Down Nine Percent in August

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The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2014 shows mortgage applications for new home purchases decreased by nine percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns. By product type, conventional loans composed 68.9 percent of loan applications, FHA loans composed 15.7 percent, RHS/USDA loans composed 1.0 percent and VA loans composed 14.3 percent.Click to continue

Can the Wealth Building Home Loan Re-Animate the Mortgage Market?

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There is no nice way around it: The latest mortgage application data is atrocious. However, the introduction of a new product potentially holds the promise of revitalizing a purchase market that seems to be weakening by the day.Click to continue

MBA Names Marcia Davies COO and Peter Grace SVP of Strategy and Member Services

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David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA), has announced staff promotions as part of an organizational re-alignment designed to enhance MBA’s effectiveness and strengthen its ability to serve members. As part of the re-alignment, Marcia M. Davies has been promoted to chief operating officer (COO) and Peter J. Grace, has been promoted to senior vice president of strategy and member services, reporting to Davies.Click to continue

Q2 Commercial and Multifamily Delinquency Rates on the Rise

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Delinquency rates for commercial and multifamily mortgage loans continued to decline in the second quarter of 2014, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report. During the second quarter of 2014, the 30-plus day delinquency rate for loans held in commercial mortgage-backed securities (CMBS) decreased 0.45 percentage points to 5.71 percent.Click to continue

NMP Exclusive: MBA’s Stevens Says Demographics Point to “Significant Shift” in Housing

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The head of the nation’s most prominent mortgage professional trade group has acknowledged that the state of housing is not at the level where it should be. However, he stressed that dramatic changes in U.S. demographics will create a “significant shift” in how the housing finance world operates.Click to continue

Texas and Colorado Triumph as Havens for First-Time Homebuyers

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As the Labor Day weekend marked the unofficial end to summer, the latest mortgage application data reaffirmed a continuing sense of stagnation. But while many mortgage professionals view the fall months as a prime season for new housing activity, one key concern arises on whether first-time homebuyers will be able to participate in the market. In a recent survey, it seemed that Texas and Colorado have taken the lead as the nation’s top states for attracting first-time homebuyers.Click to continue

Wells Fargo Tops MBA Survey of Commercial and Multifamily Mortgage Servicers’ Volumes

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The Mortgage Bankers Association (MBA) released its mid-year ranking of commercial and multifamily mortgage servicers’ volumes as of June 30, 2014. At the top of the list of firms is Wells Fargo with $446.8 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $378.2 billion, Berkadia Commercial Mortgage LLC with $242.9 billion, KeyBank National Association with $167.2 billion, and GEMSA Loan Services, L.P. with $95.7 billion.Click to continue