Mortgage

Mortgage

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 9.4 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 25, 2016. This week's results included an adjustment for the Thanksgiving holiday.

Purchase Applications Drive Increase in Latest MBA Weekly Survey

Mortgage applications increased 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 November 18, 2016.

MBA Opens Doors Foundation Completes Record Setting Fundraising Season

The Mortgage Bankers Association Opens Doors Foundation (MBA Opens Doors) today announced it reached its 2016/2017 fundraising campaign goal of $1.5 million during its annual convention which was recently held in Boston. MBA Opens Doors is a non-profit organization dedicated to providing assistance to families with a critically ill or injured child by making their mortgage or rent payment.

ALLY FINANCIAL AGREES TO PAY $52 MILLION TO RESOLVE INVESTIGATION INTO IMPROPER CONDUCT RELATED...

Ally Financial Inc. has agreed to pay the United States $52 million to settle allegations that its subsidiaries acted improperly in relation to 10 subprime residential mortgage backed securities (RMBS) in 2006 and 2007.

PACE Energy Efficiency Mortgages Still Risky Despite New Department of Energy Guidelines

New best practices guidelines released today by the U.S. Department of Energy (DOE) for Property Assessed Clean Energy (PACE) mortgages could encourage states and localities to begin to address some of the growing problems and potential for abuse in this market. The new guidelines are a significant improvement from earlier guidelines but far stronger, enforceable protections are needed to ensure true energy savings and to protect homeowners

MBA Commits $100,000 to Diversity and Inclusion Scholarships

The Mortgage Bankers Association (MBA) today announced that it would dedicate proceeds from its 3rd Annual Summit on Diversity and Inclusion, totaling $100,000, to its Path to Diversity & Inclusion Scholarships. The scholarships support diverse individuals who take MBA Education courses for professional development.

MBA Presents Wells Fargo Home Lending with Diversity & Inclusion Award

The Mortgage Bankers Association (MBA) today announced that it has given Wells Fargo Home Lending an inaugural Diversity & Inclusion Award for its efforts in market outreach.

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 9.2 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 11, 2016.

FHA REPORT SAYS HEALTH OF MORTGAGE FUND IMPROVING

Earlier today, HUD released its 2016 Annual Report to Congress on the financial status of the Federal Housing Administration's (FHA) Mutual Mortgage Insurance Fund (MMIF). The report finds that the value of the MMIF, which funds FHA's single-family homeownership and reverse mortgage loans, grew by $3.8 billion to $27.6 billion in fiscal year (FY) 2016, its fourth consecutive annual increase.

MBA Statement Regarding FHA’s Annual Report to Congress

David H. Stevens, CMB, President & CEO Mortgage Bankers Association, issued the following statement regarding FHA's Annual Report to Congress. "FHA and its leadership should be commended for the steps they have taken to improve the value of the FHA MMI fund for single family mortgages since the economic crisis, at the same time they have provided access to homeownership for hundreds of thousands of low and moderate income Americans. The core strength of FHA's forward book of business is representative of growing stability of the housing market nationally

October New Home Purchase Mortgage Applications Increase 8 Percent Year over Year

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for October 2016 shows mortgage applications for new home purchases increased 8 percent relative to October 2015. Compared to September 2016, applications decreased by 2 percent. This change does not include any adjustment for typical seasonal patterns
Mortgage Rates

Delinquencies and Foreclosures Decrease in Latest Survey

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased 14 basis points to a seasonally adjusted rate of 4.52 percent of all loans outstanding at the end of the third quarter of 2016. This was the lowest level since the second quarter of 2006 when the delinquency rate was 4.39 percent. The delinquency rate was 47 basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey.

Investors Unite Teleconference: What is Risk Sharing? And how does it Work?

On Tuesday, November 15 at 10:30 am EST, Investors Unite will hold a teleconference to discuss risk sharing in the secondary mortgage market, a major policy that could affect Fannie Mae and Freddie Mac moving forward.

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 4, 2016.

MBA Statement on Donald Trump Being Elected President of the United States

David H. Stevens, President & CEO Mortgage Bankers Association, issued the following statement congratulating Donald Trump on being elected the 45th President of the United States

Commercial/Multifamily Mortgage Bankers Originations to Grow by 4 Percent in 2017

The Mortgage Bankers Association (MBA) projects originations of commercial and multifamily mortgages will grow to $537 billion in 2017, an increase of 4 percent from expected 2016 volumes of $515 billion. Mortgage banker originations of multifamily mortgages are forecast at $224 billion in 2017, with total multifamily lending at $272 billion

MBA’s Future Leaders Program Graduates 63 Residential and Commercial/Multifamily Real Estate Finance Professionals

The Mortgage Bankers Association (MBA) recognized a total of 63 mortgage professionals -- 35 from the residential market segment and 28 from the commercial/multifamily market segment -- in a graduation ceremony for MBA's Future Leaders Program held at MBA's Annual Convention & Expo in Boston, MA

Purchase Originations to Total $1.1 Trillion in 2017

The Mortgage Bankers Association (MBA) announced today that it forecasts $1.10 trillion in purchase mortgage originations during calendar year 2017, an 11 percent increase from 2016.  In contrast, MBA anticipates refinance originations will decrease by 40 percent, resulting in refinance mortgage originations of $529 billion.  In total, mortgage originations are expected to decrease to $1.63 trillion in 2017 from $1.89 trillion in 2016.

MORPAC Honors James Deitch with the Distinguished 2016 Schumacher-Bolduc Award

The Mortgage Bankers Association Political Action Committee (MORPAC) today awarded James Deitch, CMB, CPA; CEO of Teraverde Financial, with the 2016 Schumacher-Bolduc Award at the association's Annual Convention and Expo held in Boston. The award was given to Mr. Deitch in recognition of his outstanding work on behalf of MBA's political advocacy programs and the mortgage lending industry

Remarks by Rodrigo Lopez, CMB, MBA Chairman, During MBA’s Annual Convention & Expo

Rodrigo Lopez, CMB, Chairman of the Mortgage Bankers Association (MBA) and Executive Chairman of NorthMarq Capital, today delivered the following remarks at the association's Annual Convention and Expo in Boston, MA

MBA Honors Union Home Mortgage’s Bill Cosgrove with Woodward Distinguished Service Award

The Mortgage Bankers Association (MBA) honored Bill Cosgrove, CMB, President and CEO of Union Home Mortgage, with its Andrew D. Woodward Distinguished Service Award. The award is presented in recognition of dedication and prominent service to MBA and the mortgage lending industry in a variety of capacities involving both legislative and regulatory activities. Cosgrove was presented the award in a ceremony held at MBA's Annual Convention & Expo in Boston, MA.

MBA Announces Inaugural Diversity & Inclusion Award Winners

The Mortgage Bankers Association (MBA) today announced its first annual awards recognizing member companies for their leadership in diversity and inclusion. Companies were recognized in two different categories: organizational diversity & inclusion and market outreach strategies.

Employees of Pulte Mortgage Presented with MBA Opens Doors Foundation Community Champion Award

The Mortgage Bankers Association (MBA) announced that the employees of Pulte Mortgage, are the recipients of the MBA Opens Doors Foundation Community Champion Award.  The award recognizes those who have dedicated significant time and effort to advance the foundation's mission to enable families with a critically ill or injured child to keep their home, even in the face of significant medical bills

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 4.1 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 21, 2016. The prior week's results included an adjustment for the Columbus Day holiday

Alleged Architect of $30 Million Mortgage Relief Fraud Scheme and Four Others Indicted in...

The alleged architect of a $30 million mortgage relief fraud scheme and four other former employees of a purported mortgage relief company were charged in an indictment unsealed today for their alleged participation in a conspiracy to defraud banks and homeowners.

Multifamily Lending Up 28 Percent in 2015

In 2015, 2,855 different multifamily lenders provided a total of $249.8 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association's (MBA) 2015 Annual Report on Multifamily Lending.  The 2015 dollar volume represents a 28 percent increase from 2014 levels.  Sixty-three percent of the active lenders made five or fewer multifamily loans over the course of the year.

Mortgage Applications Slightly Increase in Latest MBA Weekly Survey

ortgage applications increased 0.6 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 14, 2016. This week's results included an adjustment for the Columbus Day holiday

MISMO Launches New Collaboration Tool and Updated Website

MISMO® the Mortgage Industry Standards Maintenance Organization recently launched MISMO Connect, a new tool that improves collaboration and communication across the MISMO community. MISMO Connect replaces the previous SharePoint and Listserv tools. MISMO Connect will be the official repository for MISMO documents and workgroup activities.

September New Home Purchase Mortgage Applications Increase 3 Percent Year over Year

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for September 2016 shows mortgage applications for new home purchases increased 3 percent relative to September 2015. Compared to August 2016, applications decreased by 7 percent. This change does not include any adjustment for typical seasonal patterns

Consumer Advocacy Groups Condemn Federal Court’s Decision Regarding CFPB

The Washington D.C. Circuit Court of Appeals issued a ruling against the Consumer Financial Protection Bureau (CFPB) in PPH Corporation v. CFPB, a case dealing with the CFPB’s ability to order New Jersey mortgage-lending company PPH to pay a $109 million enforcement penalty after the corporation was found offering illegal kickbacks to mortgage insurance partners.

Popular

December 6 Workshop: Find Out What to Do When Building Control...

Next week's workshop, sponsored by the National Institute of Building Sciences, will answer the question of what to do when building control systems have been hacked or taken over by ransomware. Intended for building owners, facility managers, engineering, physical security, information assurance and other professionals involved with the design, deployment and operation of building control systems, the “Your Building Control Systems Have Been Hacked, Now What? Workshop,” to be held Tuesday, December 6, from 8:00 am to 5:00 pm, in Gaithersburg, Maryland, will provide a combination of classroom learning modules and hands-on laboratory exercises to help attendees learn how to detect, contain, eradicate and recover from a cyber event.

Recent

Consumer and Small Business Advocates Oppose OCC’s Plan to Offer Fintech...

Today, the Office of the Comptroller of the Currency (OCC) announced its intention to offer national charters to financial technology firms, which could severely undermine state oversight and state consumer protection laws that protect consumers and small business owners from abusive financial products and practices. The OCC is accepting comments on its framework until January 15, 2017.