MBA Education has unveiled the "Compliance Essentials Ability to Repay (ATR)/Qualified Mortgage (QM) Resource Guide," the a manual that explains not only the effects of the ATR/QM rule on the real estate finance industry but also how organizations should adjust and operationalize to comply with this new federal regulation.Click to continue
As the 2013-2014 chair of the Mortgage Action Alliance (MMA), it was great to see so many companies and individuals represented at the Mortgage Bankers Association’s 100th Annual Convention in Washington, D.C. last October. More than 4,500 attendees joined together to celebrate the industry and a central theme rang through the halls of the Walter E. Washington Convention Center:Click to continue
Mortgage applications decreased 5.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Dec. 13, 2013. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased six percent compared with the previous week. The Refinance Index decreased four percent from the previous week.Click to continue
According to a new report from the Mortgage Bankers Association (MBA), the level of commercial/multifamily mortgage debt outstanding increased by $25.2 billion in the third quarter of 2013, as all four major investor groups increased their holdings. That is a 1.0 percent increase over the second quarter of 2013.
Total commercial/multifamily debt outstanding stood at $2.47 trillion in the third quarter. Multifamily mortgage debt outstanding rose to $887 billion, an increase of $10.8 billion, or 1.2 percent, from the second quarter.Click to continue
MBA’s Builder Application Survey data for November 2013 shows mortgage applications for new home purchases decreased by 18 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.
By product type, conventional loans composed 66.2 percent of loan applications, FHA loans composed 19.9 percent, RHS/USDA loans composed 1.1 percent and VA loans composed 12.9 percent. The average loan size of new homes increased from $294,480 in October to $295,523 in November.Click to continue
Mortgage applications increased one percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Dec. 6, 2013. The previous week’s results included an adjustment for the Thanksgiving holiday. The Market Composite Index, a measure of mortgage loan application volume, increased one percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 43 percent compared with the previous week.Click to continue
Mortgage Builder Software has announced upgrades to its LoanXEngine product eligibility and pricing technology that will help lenders become more efficient in the hedging and secondary marketing aspects of their business. The enhancements come at a time when lenders are dealing with reduced profits and higher origination costs due to increased regulatory requirements and declining loan volume.Click to continue
Mortgage credit availability decreased slightly in November according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from the AllRegs Market Clarity product.Click to continue
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $743 on each loan they originated in the third quarter of 2013, down from $1,528 per loan in the second quarter, the Mortgage Bankers Association (MBA) reported in its Quarterly Mortgage Bankers Performance Report.Click to continue
Delinquency rates for commercial and multifamily mortgage loans continued to decline in the third quarter of 2013, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report. During the third quarter of 2013, the 60+ day delinquency rate for commercial and multifamily mortgages held in life company portfolios decreased 0.02 percentage points to 0.06 percent. The 60+ day delinquency rate for multifamily loans held or insured by Freddie Mac decreased 0.04 percentage points to 0.05 percent.Click to continue