April 25, 2019
As an industry, we are closing in on a decade of resurgence following financial meltdowns that ushered in more than 2 million lost jobs, hundreds of billions in losses and a distain for financial services and banking organization personnel, that for several years, ranked them more unpopular than lawyers. How times have changed.
Fintech mortgage lenders are frequently making headlines these days with their announcements of 10-day closings and 20-minute approvals--sometimes even three-minute approvals. Indeed, the technologies they employ are game-changers for our industry. No borrower wants to wait any longer than necessary to find out if they've been approved.
In this MBANow video, MBA Managing Regulatory Counsel for Public Policy and Industry Relations Justin Wiseman discusses MBA's new white paper, The Roadmap to CFPB 2.0.
The combination of lower production revenues and higher expenses in 2018 contributed to the lowest net production income per loan since 2008, according to the MBA Annual Mortgage Bankers Performance Report released this week.
The Mortgage Bankers Association's latest Washington Update features MBA Associate Vice President of Legislative and Political Affairs Erin Barry, who discusses HUD's Mortgagee Letter outlining changes to FHA down payment assistance; CFPB Director Kathy Kraninger's future vision for the Bureau; and MBA-supported Remote Online Notarization legislation signed into law in Arizona.
LoanLogics, Trevose, Pa., announced president and COO Bill Neville has been named CEO. He will replace former CEO Brian Fitzpatrick.
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $200 on each loan they originated in the fourth quarter, down from a reported gain of $480 per loan in the third quarter, the Mortgage Bankers Association reported.
Mortgage Bankers Association Chief Economist Mike Fratantoni breaks down the MBA Weekly Applications Survey for the week ending Apr. 19.
Mike Yates is President of Best Capital Funding, Chatsworth, Calif.
Elliot Salzman, Chief Credit Officer of LoanLogics, is responsible for enhancing and overseeing credit policy functions of the LoanHD platform. He oversees the organization's Credit Quality Policies and Procedures. He has more than 26 years of mortgage industry experience and has held numerous executive roles overseeing operations and credit policy.