Mortgage Banking

Founded in 1939, Mortgage Banking Magazine is a professional trade magazine published by Mortgage Bankers Association of America. Its headquarters are located in Washington, D.C. The magazine is published monthly and serves the banking, real estate and financial markets. Janet Hewitt is the editor-in-chief.

Articles from Vol. 76, No. 4, January

Apartment Starts Tumble
September's increase in apartment starts turned into a sharp decrease in October, according to the U.S. Census Bureau. "What goes up must come down," said Jay Denton, senior vice president with Axiometrics Inc., Dallas. "The multifamily decrease...
Authors: Upclose
John Bell John was born in Hammond, Indiana, came to Chicago as a teenager and has lived there ever since. He is a graduate of Northwestern University Medill School of Journalism. He segued from writing the John Carmichael Texaco Sports Final for...
Black Knight Rolls out ASP-Hosted LOS Option
At a press briefing at the Mortgage Bankers Association (MBA) Annual Convention in late October, senior executives from Black Knight Financial Services (BKFS), Jacksonville, Florida, described the company's technology agenda for 2016 and origination...
Calendar
CALENDAR JANUARY-APRIL 2016 January 2016 Jan. 11-15 MISMO[R] Winter Summit, Tampa, FL [www.mismo.org/meetingsandevents] Jan. 15 The New England Mortgage Expo, Uncasville, CT [www.thewarrengroupevents.com/nemortgageexpo/home]...
Data Center Site Selection Offers Significant Savings
Data center users can save up to $140 million over 10 years by choosing markets with lower tax burdens, affordable power rates and favorable weather conditions, reported CBRE Group, Los Angeles. The potential savings represent up to 52 percent of...
False Alarm
TO SAY THAT THE MEMBERS OF THE CHICAGO-BASED NATIONAL ASSOCIATION of Realtors[R] (NAR) are a loud and vocal group is something of an understatement. Any issue that ruffles their feathers brings an uproar of thunderous proportions. [paragraph] So if...
Federal Reserve: CRE Construction, Leasing Strengthen
Commercial real estate (CRE) construction and leasing strengthened since mid-October, the Federal Reserve's Beige Book reported in December. "Commercial construction strengthened modestly in most districts," the Beige Book said. "The Minneapolis...
Foreclosure Inventory Lowest in Eight Years
Irvine, California-based CoreLogic reported that the nation's foreclosure inventory dropped by 21.5 percent in October compared with one year ago. Completed foreclosures declined by 27.1 percent in the same period, the company said. The number of...
GSE Loan Limits Rise in 39 High-Cost Areas
The baseline maximum loan limit for loans eligible for purchase by Fannie Mae and Freddie Mac remained unchanged in 2016, but in 39 high-cost areas the conforming loan limit was increased. Tennessee saw the highest number of markets (14) where loan...
Happy Do Year!
THE MORTGAGE BANKING INDUSTRY HAS BEEN PAYING HEED TO REGULATORS and risk managers for years on what not to do. "Don't do this." "Don't do that." Let's make 2016 the year of Do. It's time for a cultural shift. Let's move beyond regulatory change and...
Home-Price Spotlight
HOME-PRICE SPOTLIGHT (September 2015 Data--Includes District of Columbia) States Ranked Worst to Best by Foreclosure Rate Foreclosure Rate 12 ...
House Bill Urges GSEs to Accept New Credit Scores
On Dec. 10, a bipartisan-supported bill was introduced in the House called the Credit Score Competition Act of 2015 (H.R. 4211) to enable government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to consider using other credit-scoring models...
Housing Activity
VITAL STATISTICS Housing Activity Residential Structures (Thousands of Units, SAAR) BY TYPE OF UNIT HOUSING STARTS BUILDING PERMITS Single- Multi- Single-...
Houston CRE Performance Diverges by Sector
Houston's different commercial real estate (CRE) sectors are responding to the city's recent economic uncertainty in different ways, according to Transwestern, Houston. The city--the largest in Texas and the fourth-largest in the United States--lost...
How Technology Is Transforming Appraisals: Lenders Have Come a Long Way in How They Order and Obtain Appraisals for Commercial Real Estate
Like most industries, financial institutions have long relied on technology to increase efficiency and profitability. But even today, many of their processes are far from fully automated. [paragraph] Chief information officers might hope for a day...
Inside the Mind of a Top Producer-Tom O'Keefe
I RECENTLY INTERVIEWED TOP PRODUCER TOM O'KEEFE, producing branch manager of Prosperity Home Mortgage LLC in Bethesda, Maryland. What really stood out for me in this interview was how traditional his marketing and customer service approach is to originating....
Key Economic Indicators and Interest Rates
VITAL STATISTICS Key Economic Indicators and Interest Rates CONSUMER PRICES, YEAROVER-YEAR CHANGE (%) CHANGE IN PAYROLL ...
Lender's Proprietary Tech Brings TRID Success
MANY INDUSTRY PLAYERS PREDICTED that closing loans in less than 45 days would be difficult after the Truth in Lending Act (TILA)-Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure (TRID) rule took effect, says Eric Egenhoefer, president...
Lending Trends
LENDING TRENDS (November 2015 Data, Ranked by Loan Volume) Top Origination Markets by Loan Volume Consolidated Metropolitan Statistical Area (CMSA)/ Metropolitan Statistical Loan Loan Area (MSA) ...
Marketrac[R]
MARKETRAC[R] (September 2015 Data, Ranked by Distressed Sales %) Markets with Highest Share of Distressed Sales Short Sales RE0 Sales Short Sales Core-Based Statistical (Average (Average (% of...
Midwest Home Prices Outperform in Third Quarter
Oxford, Mississippi-based FNC Inc. reported that in the third quarter of 2015, the pace of home-price gains on a national basis slowed to 1.7 percent from the healthier 3.5 percent pace in the second quarter. The company's Residential Price Index[TM]...
Miles to Go
There's more good news than bad in the economic and residential mortgage market forecast for 2016. Job growth and household formation numbers are the stars. Even so, there's still room for improvement. For the first time since the housing crisis,...
Month in Review
The U.S. Federal Reserve raised interest rates in December 2015. Having said that, this is certainly still an excellent opportunity for potential borrowers to finance a new home or refinance their current mortgage. As of Dec. 8, 2015, the annual percentage...
NYC Property Values Reach Peak
New York City commercial property values have hit the ceiling, a sizable majority of real estate executives said in a new survey by accounting firm Marks Paneth LLP. [paragraph] More than 70 percent of property professionals in the city said values...
Office Optimism
The office real estate market is poised to deliver another solid performance as we enter 2016. There's a reason investors like this asset class. The U.S. office property market is on target for continuing gains as it enters 2016. Steady economic...
Origination Profits Down in Third Quarter
Even though residential origination volume remained solid in the third quarter of 2015--and up considerably from third quarter 2014--net profit per loan slipped to $1,238 in the third quarter, according to the Mortgage Bankers Association's (MBA's)...
Pro Teck's Forecast Shows All Top-10 Housing Markets in the West
On Nov. 23, Waltham, Massachusetts-based Pro Teck Valuation Services released its Home Value Forecast (the November update) and all top-10 housing markets were based in the West. Five of the 10 best were based in California, but topping the list of...
The Fraud File
Mortgage Fraud Risk Index for October 2015--TOP 5 MSAs Mortgage Fraud Risk % Change % Change Metropolitan Statistical Index, Since Since Area (MSA) ...
The Mortgage Market: Five Drivers of a Healthy 2016
WOW, ANOTHER YEAR DOWN. You've all worked hard to manage portfolios, engage your customers and drive profitable growth for your investors. Writing this column in mid-December, I find it's a great time to look back at our performance over the past year...
The Rate Hike
Well, it finally happened. The Federal Reserve's Federal Open Market Committee (FOMC) finally replaced rhetoric with action on Dec. 16 when it told the public it would actually begin raising interest rates. And while I wouldn't say it was a non-event,...
The Student-Housing Niche: The Student-Housing Sector Is a Growth Market Worth Studying by More Lenders
In the world of real estate investing, when a sector gets "hot," it generally stays hot for a long time--perhaps a decade or more. And then it doesn't just peter out, it usually goes bust--dramatically and with serious investor pain inflicted along...
The Three C's for 2016
THE TRADITIONAL "THREE C's" OF LENDING ARE STILL IN PLACE--credit, collateral and capacity are not going anywhere, particularly as Qualified Mortgage (QM) considerations reign across the industry. But they are no longer the only considerations mortgage...
USAA Investing in Cutting-Edge Origination Technology
In October, a subsidiary of USAA, the San Antonio, Texas-based provider of financial services for U.S. military and their families, led a Series A round of funding for a San Francisco-based provider of automated mortgage transaction technology. The...
Weather Eye
Market observers wonder just how long current sunny conditions will prevail over the commercial/multifamily real estate markets. Industry forecasts call for robust results well into 2016. Here's some of what else showed up on the radar. Commercial...
What, Me Worry? Two Metropolises Tied to the Sea Strive to Stay Afloat in the Face of Rising Water Levels
Florida Governor Rick Scott's administration reportedly told state employees in 2015 that they could not use the term "climate change" in their official communications, emails or reports--this in a state famous for tropical cyclones. Fortunately, that...
What the Appraisal Industry Can Look Forward to in 2016
IT WAS AN INTERESTING 2015 FOR THE MORTGAGE INDUSTRY, and many of last year's significant changes are shaping what is in store for the appraisal field in 2016. The start of a new year is a good time to reflect on the previous year's highlights in order...
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