News From NAMB: March 8, 2018

Valerie Saunders

Mar 08, 2018

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Virtual E-Closing With UWM
UWM has made it possible for borrowers in 16 states to close from anywhere, anytime completely online with their Virtual E-Closing, including electronically signing the mortgage and promissory note. All that’s needed is a computer or mobile device with access to Wi-Fi. Virtual E-Closing offers borrowers convenience and gives brokers a competitive advantage over big banks and mega retail lenders. Currently available in AL, FL, IN, IL, KS, MD, ME, MO, MT, NE, NH, NV, OH, TN, VA and WA, look for more states to be coming soon. Learn more at UWM.com and call your UWM AE today.

Tensions Run High as Dodd-Frank Rollback Bill Nears Senate Vote
Tensions are running high as the Dodd-Frank rollback bill, S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, designed to deregulate the banking industry is up for a Senate vote this week. Click here for more info.

The Bank Deregulation Bill in the Senate, Explained
Republicans and Democrats in Congress appear to have finally found something they can agree on, and it’s not immigration, or gun control, or health care. They’re easing some rules for banks. Click here for more info.

Fannie Mae: Confidence in Housing Falls in February
Americans’ confidence in housing fell slightly in February, reversing gains from the previous month, according to Fannie Mae’s Home Purchase Sentiment Index. Click here for more info.

FHFA Proposes Amendments to FHLB Affordable Housing Program Regs
The Federal Housing Finance Agency has announced proposed changes to its regulation on the Federal Home Loan Banks' Affordable Housing Program (AHP) and is seeking comments on the changes. Click here for more info.

Housing Affordability Hits Nine-Year Low

The home-purchase market sunk to its least affordable point since 2009 to begin the year, Black Knight reported this week. Click here for more info.

Valerie Saunders, CRMS is Executive Director of NAMB. She may be reached by phone at (202) 434-8250 or e-mail [email protected].

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Mar 08, 2018

People On The Move

MBA Appoints Rachel Kelley Legislative Affairs VP

Kelley's focus will be on Republican members in the House.

The Mortgage Bankers Association appointed Rachel Kelley as its vice president of legislative affairs, with a focus on advocating MBA's legislative and policy priorities on Capitol Hill, particularly among Republican members of the U.S. House of Representatives. Kelley bring...

Analysis and Data

Mortgage Applications Inch Up 0.3%

Despite a 50 basis point decline in rates over past six weeks, purchase activity remained approximately 20% lower than the previous year.

Mortgage applications saw a marginal uptick of 0.3% for the week ending Nov. 24, 2023, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The results, however, have been adjusted to account for the Thanksgiving holiday. The ...