FINTECH | NATIONAL MORTGAGE NEWS Plaid is said close to financing at about $13 billion valuation. The financial-technology firm Plaid is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa, according to people familiar with the matter. April

5.

CMBS NEWS | NATIONAL MORTGAGE NEWS Running on empty: Fitch finds office CMBS vulnerable to remote work. The lasting effects of work-from-home practices driven by the COVID-19 pandemic could slash some office property values to less than half of their original value – and lead to rating downgrades on affected CMBS transactions, according to Fitch Ratings. By Matt Hudgins. March

30.

TOP MORTGAGE PRODUCERS 2021 RANKING, NOS. 1-50 For the first time in the 23-year history of National Mortgage News' survey, there is a billion dollar producer at the top of the list. Christopher Gallo, a senior loan officer at NJ Lenders Corp. in Ho-Ho-Kus, N.J., logged slightly under $1.02 billion in loan volume

for 2020.

COMMERCIAL LENDING

Marathon raises $900 million for asset-based loans as banks flee. The firm will invest in loans in health care, real estate, equipment and transportation, as well as corporate sectors backed by contractual cash flows, according to a statement Tuesday. January 26. Commercial

lending.

GNMA | GINNIE MAE | NATIONAL MORTGAGE NEWS Ginnie Mae ends 2020 with its strongest month for MBS issuance ever. The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month. By Bonnie Sinnock. January 11. LIBOR. GUILD HOLDINGS ACQUIRES RESIDENTIAL MORTGAGE SERVICES Guild Holdings put an exclamation point on a strong first quarter by announcing a deal to acquire Residential Mortgage Services, a move designed to expand the mortgage lender’s national retail presence. In the first quarter, Guild more than doubled its net income compared to the last three months of 2020, propelled by growth in originations

BRAD FINKELSTEIN

Brad Finkelstein is the originations editor of National Mortgage News. Finkelstein has been with NMN since May 1990. Prior to that he was the associate editor of the Airport Press in Jamaica, N.Y., and a reporter for This Week Publications on Long Island. DIGITAL MORTGAGE 2020 Digital Mortgage continues to bring together senior-level professionals leading the latest thinking on industry issues, from handling the impact of complete mortgage digitization to providing increased value and to ensuring customer loyalty within changing industry dynamics, and more. THE TIME FOR MORTGAGE COMPANIES TO SELL IS NOW, CONSULTANT The time for mortgage companies to sell is now, consultant says. Privately owned mortgage lenders tend not to walk away from the table when they’re winning as they are now, with originations at record highs. But they might want to consider it, said Garth Graham, a senior partner at industry consultancy Stratmor Group, who recently authored

a

ARIZONA | NATIONAL MORTGAGE NEWS The U.S. Department of Veterans Affairs' report for its 2018 fiscal year reveals that the number of service members utilizing their home loan benefits, as well as the total loan funding offered, have increased significantly throughout Arizona in the last five years. By Kaitlin Olson. December 5. FINTECH | NATIONAL MORTGAGE NEWS Plaid is said close to financing at about $13 billion valuation. The financial-technology firm Plaid is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa, according to people familiar with the matter. April

5.

CMBS NEWS | NATIONAL MORTGAGE NEWS Running on empty: Fitch finds office CMBS vulnerable to remote work. The lasting effects of work-from-home practices driven by the COVID-19 pandemic could slash some office property values to less than half of their original value – and lead to rating downgrades on affected CMBS transactions, according to Fitch Ratings. By Matt Hudgins. March

30.

TOP MORTGAGE PRODUCERS 2021 RANKING, NOS. 1-50 For the first time in the 23-year history of National Mortgage News' survey, there is a billion dollar producer at the top of the list. Christopher Gallo, a senior loan officer at NJ Lenders Corp. in Ho-Ho-Kus, N.J., logged slightly under $1.02 billion in loan volume

for 2020.

COMMERCIAL LENDING

Marathon raises $900 million for asset-based loans as banks flee. The firm will invest in loans in health care, real estate, equipment and transportation, as well as corporate sectors backed by contractual cash flows, according to a statement Tuesday. January 26. Commercial

lending.

GNMA | GINNIE MAE | NATIONAL MORTGAGE NEWS Ginnie Mae ends 2020 with its strongest month for MBS issuance ever. The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month. By Bonnie Sinnock. January 11. LIBOR. GUILD HOLDINGS ACQUIRES RESIDENTIAL MORTGAGE SERVICES Guild Holdings put an exclamation point on a strong first quarter by announcing a deal to acquire Residential Mortgage Services, a move designed to expand the mortgage lender’s national retail presence. In the first quarter, Guild more than doubled its net income compared to the last three months of 2020, propelled by growth in originations

BRAD FINKELSTEIN

Brad Finkelstein is the originations editor of National Mortgage News. Finkelstein has been with NMN since May 1990. Prior to that he was the associate editor of the Airport Press in Jamaica, N.Y., and a reporter for This Week Publications on Long Island. DIGITAL MORTGAGE 2020 Digital Mortgage continues to bring together senior-level professionals leading the latest thinking on industry issues, from handling the impact of complete mortgage digitization to providing increased value and to ensuring customer loyalty within changing industry dynamics, and more. THE TIME FOR MORTGAGE COMPANIES TO SELL IS NOW, CONSULTANT The time for mortgage companies to sell is now, consultant says. Privately owned mortgage lenders tend not to walk away from the table when they’re winning as they are now, with originations at record highs. But they might want to consider it, said Garth Graham, a senior partner at industry consultancy Stratmor Group, who recently authored

a

ARIZONA | NATIONAL MORTGAGE NEWS The U.S. Department of Veterans Affairs' report for its 2018 fiscal year reveals that the number of service members utilizing their home loan benefits, as well as the total loan funding offered, have increased significantly throughout Arizona in the last five years. By Kaitlin Olson. December 5. HOME | NATIONAL MORTGAGE NEWS 2021 Best Mortgage Companies to Work For. National Mortgage News presents the third annual Best Mortgage Companies to Work For — a survey and awards program dedicated to identifying and recognizing the industry's best employers and providing organizations with valuable employee feedback. By Brad Finkelstein. March 1. 1 Min Read. MORTGAGE FORBEARANCE EXITS PICK UP AT FASTEST PACE IN Rate of forbearance exits picks up at fastest pace in months. Borrowers are exiting pandemic-related forbearance plans at the fastest pace since February, according to the latest numbers from Black Knight. Forbearance volume overall fell for the second week in a row, down 61,000 or 2.7% from one week earlier. FINTECH | NATIONAL MORTGAGE NEWS Plaid is said close to financing at about $13 billion valuation. The financial-technology firm Plaid is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa, according to people familiar with the matter. April

5.

MORTGAGE DELINQUENCIES HAVE BEST 1-MONTH IMPROVEMENT SINCE But March's overall late payment rate was 1.3 percentage points higher than one year ago, while the 90-day-plus rate was 2.3 percentage

points higher.

HOME BUYING SENTIMENT TAKES A TUMBLE, STAFF RETENTION Also: Residential delinquencies reach a pandemic low, interest rates groups seek to keep mortgage origination and securitization rules

aligned

MORTGAGE LENDERS GOING PUBLIC IN 2020: A TIMELINE As some parts of the U.S. economy faced their darkest days, several nonbank lenders decided 2020 was the year to go public. It was the first time in more than a decade that lenders sought to take advantage of investor interest in the sector, which is having one of the best, if not the best, year for mortgage originations ever. MORTGAGE INSURERS’ DELINQUENT INVENTORY SHRINKING FASTER 8 hours ago · Mortgage insurers’ delinquent inventory shrinking faster than expected By Brad Finkelstein June 11, 2021, 12:31 p.m. EDT

. 2 Min Read

GROUPS SEEK TO KEEP MORTGAGE ORIGINATION, SECURITIZATION A coalition of mortgage, housing and banking organizations on Monday urged regulators to avoid a disconnect between certain pending standards for home loans sold to consumers and those in securitized pools.. The groups sent the letter to six federal regulators in response to the upcoming end of a periodic review done to determine whether the boundaries of the risk-retention exemption for INVESTIGATING THE ROADBLOCKS OF COMMERCIAL-TO-RESIDENTIAL 11 hours ago · With residential supply severely lagging behind demand, redeveloping unused office space into multifamily properties seems like a perfect solution, but it’ll take governmental collaboration and tax breaks to make such projects financially compelling, developers say. MORTGAGE LENDERS REMAIN NEGATIVE ON PROFITS, CITING 1 day ago · More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases. HOME | NATIONAL MORTGAGE NEWSORIGINATIONSERVICINGCOMPLIANCE & REGULATIONSECONDARYTECHNOLOGYPEOPLE 2021 Best Mortgage Companies to Work For. National Mortgage News presents the third annual Best Mortgage Companies to Work For — a survey and awards program dedicated to identifying and recognizing the industry's best employers and providing organizations with valuable employee feedback. By Brad Finkelstein. March 1. 1 Min Read. MBS | MORTGAGE BACKED SECURITIES | NATIONAL MORTGAGE NEWS Fed to taper bond buying in fourth quarter, economists say. More than two-thirds of the economists surveyed expect the Federal Open Market Committee will give an early-warning signal of tapering this year, with the largest number — 45% — looking for a nod during the July-September quarter. April 26. Commercial mortgages. CMBS NEWS | NATIONAL MORTGAGE NEWS Running on empty: Fitch finds office CMBS vulnerable to remote work. The lasting effects of work-from-home practices driven by the COVID-19 pandemic could slash some office property values to less than half of their original value – and lead to rating downgrades on affected CMBS transactions, according to Fitch Ratings. By Matt Hudgins. March

30.

2021 PREDICTIONS FOR MORTGAGE LENDING Fannie Mae predicts average rates for the 30-year fixed loan will remain at 2.8% through 2021 and only rise to 2.9% for 2022. The GSE's November forecast calls for $4.12 trillion in mortgage originations this year, up from $4.08 trillion in the October outlook. For 2021, the latest projections call for $2.72 trillion in volume, up from the $2.62 trillion that Fannie Mae Chief Economist Doug

COMMERCIAL LENDING

Marathon raises $900 million for asset-based loans as banks flee. The firm will invest in loans in health care, real estate, equipment and transportation, as well as corporate sectors backed by contractual cash flows, according to a statement Tuesday. January 26. Commercial

lending.

GNMA | GINNIE MAE | NATIONAL MORTGAGE NEWS Ginnie Mae ends 2020 with its strongest month for MBS issuance ever. The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month. By Bonnie Sinnock. January 11. LIBOR. OCWEN SUBSIDIARY PHH TO BUY $48B IN MORTGAGE SERVICING The transaction goes a long way toward the company’s goal to amass MSRs with a total unpaid principal balance of up to $150 billion.

BONNIE SINNOCK

Bonnie Sinnock has been writing for National Mortgage News since 1995. She also has worked on other SourceMedia publications as an editor and a reporter. Previous to joining SourceMedia, her work appeared in publications that included the Los Angeles Times ARIZONA | NATIONAL MORTGAGE NEWS The U.S. Department of Veterans Affairs' report for its 2018 fiscal year reveals that the number of service members utilizing their home loan benefits, as well as the total loan funding offered, have increased significantly throughout Arizona in the last five years. By Kaitlin Olson. December 5. HOUSE FLIPPING LOANS COULD GET A BOOST FROM WALL STREET In California alone, the percentage of flips purchased with financing was 48% in 2017, compared to 36.5% in 2014, according to a LendingHome report based on data from the lender and Attom. During 2017, 48,020 homes were purchased in the state to be flipped, compared with 28,646 in 2014. The current growth in financing is a result of diminished HOME | NATIONAL MORTGAGE NEWSORIGINATIONSERVICINGCOMPLIANCE & REGULATIONSECONDARYTECHNOLOGYPEOPLE 2021 Best Mortgage Companies to Work For. National Mortgage News presents the third annual Best Mortgage Companies to Work For — a survey and awards program dedicated to identifying and recognizing the industry's best employers and providing organizations with valuable employee feedback. By Brad Finkelstein. March 1. 1 Min Read. MBS | MORTGAGE BACKED SECURITIES | NATIONAL MORTGAGE NEWS Fed to taper bond buying in fourth quarter, economists say. More than two-thirds of the economists surveyed expect the Federal Open Market Committee will give an early-warning signal of tapering this year, with the largest number — 45% — looking for a nod during the July-September quarter. April 26. Commercial mortgages. CMBS NEWS | NATIONAL MORTGAGE NEWS Running on empty: Fitch finds office CMBS vulnerable to remote work. The lasting effects of work-from-home practices driven by the COVID-19 pandemic could slash some office property values to less than half of their original value – and lead to rating downgrades on affected CMBS transactions, according to Fitch Ratings. By Matt Hudgins. March

30.

2021 PREDICTIONS FOR MORTGAGE LENDING Fannie Mae predicts average rates for the 30-year fixed loan will remain at 2.8% through 2021 and only rise to 2.9% for 2022. The GSE's November forecast calls for $4.12 trillion in mortgage originations this year, up from $4.08 trillion in the October outlook. For 2021, the latest projections call for $2.72 trillion in volume, up from the $2.62 trillion that Fannie Mae Chief Economist Doug

COMMERCIAL LENDING

Marathon raises $900 million for asset-based loans as banks flee. The firm will invest in loans in health care, real estate, equipment and transportation, as well as corporate sectors backed by contractual cash flows, according to a statement Tuesday. January 26. Commercial

lending.

GNMA | GINNIE MAE | NATIONAL MORTGAGE NEWS Ginnie Mae ends 2020 with its strongest month for MBS issuance ever. The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month. By Bonnie Sinnock. January 11. LIBOR. OCWEN SUBSIDIARY PHH TO BUY $48B IN MORTGAGE SERVICING The transaction goes a long way toward the company’s goal to amass MSRs with a total unpaid principal balance of up to $150 billion.

BONNIE SINNOCK

Bonnie Sinnock has been writing for National Mortgage News since 1995. She also has worked on other SourceMedia publications as an editor and a reporter. Previous to joining SourceMedia, her work appeared in publications that included the Los Angeles Times ARIZONA | NATIONAL MORTGAGE NEWS The U.S. Department of Veterans Affairs' report for its 2018 fiscal year reveals that the number of service members utilizing their home loan benefits, as well as the total loan funding offered, have increased significantly throughout Arizona in the last five years. By Kaitlin Olson. December 5. HOUSE FLIPPING LOANS COULD GET A BOOST FROM WALL STREET In California alone, the percentage of flips purchased with financing was 48% in 2017, compared to 36.5% in 2014, according to a LendingHome report based on data from the lender and Attom. During 2017, 48,020 homes were purchased in the state to be flipped, compared with 28,646 in 2014. The current growth in financing is a result of diminished MORTGAGE FORBEARANCES HIT LOWEST WEEKLY TOTAL SINCE About 65,000 plans scheduled to expire in May remain unaccounted for, which could lead to another big decrease next week. Additionally, 700,000 plans expire by the end of June as they reach the end of their 18-month forbearance period. By loan type, those backed by Fannie Mae and Freddie Mac decreased by 26,000 week-over-week, falling to a total

of 656,000.

FINTECH | NATIONAL MORTGAGE NEWS Plaid is said close to financing at about $13 billion valuation. The financial-technology firm Plaid is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa, according to people familiar with the matter. April

5.

MORTGAGE RATES FORECAST & PREDICTIONS Mortgage rate reversal could be just the start of significant movement. Depressed Treasury yields have kept mortgage rates under 3% recently, but positive economic news could indicate larger increases will follow this week’s uptick. By Paul Centopani. MORTGAGE VOLUME SPIKED TO 21-YEAR HIGH IN Q1 2021: ATTOM The median down payment went to $18,700, down from $23,250 quarterly but up from $13,250 annually. The down payment percentage of the median home price followed the same pattern, going to 6.1% from 7.4% the previous quarter and from 5% the year prior.

NMN ORIGINATION

Black Knight to buy mortgage marketing firm Top of Mind for $250M. This is the multi-hyphenate company’s sixth deal since the start of 2020 — a series of acquisitions in a variety of sectors within the industry, ranging from analytics to artificial intelligence. By Brad

Finkelstein.

2021 HURRICANES ESTIMATED TO COST $1.9 TRILLION IN WATER Storm-related reconstruction costs — a large share of which may be concentrated in the New York City area — are estimated to total $1.9

trillion

TRID NEWS | NATIONAL MORTGAGE NEWS CFPB report says disclosure rule has cost lenders. The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan.

By Kate Berry.

HERE’S WHAT’S IN THE CFPB’S NEW FAQ ON ESCROW RULES The agency is looking to clarify existing regulations around how these accounts are handled, based on questions it received. WHY THE HOT HOUSING MARKET MIGHT BE COOLING OFF 1 day ago · Higher prices are resulting in lower affordability levels, even with the average interest rate for the 30-year fixed mortgage as measured by Freddie Mac slipping back under 3% in recent weeks. "Entering June, the share of the median income needed to make the monthly payments on the median-priced home had risen to 20.5%," said Graboske, who pointed out that while lower than the 25-year CONSUMER HOME BUYING SENTIMENT DROPS TO NEW ALL-TIME LOW 1 day ago · While a growing share of consumers feel optimistic about the economic recovery underway, the extreme seller’s market made the majority of prospective borrowers pessimistic for only the second time in 10 years, according to Fannie Mae. HOME | NATIONAL MORTGAGE NEWSORIGINATIONSERVICINGCOMPLIANCE & REGULATIONSECONDARYTECHNOLOGYPEOPLE 2021 Best Mortgage Companies to Work For. National Mortgage News presents the third annual Best Mortgage Companies to Work For — a survey and awards program dedicated to identifying and recognizing the industry's best employers and providing organizations with valuable employee feedback. By Brad Finkelstein. March 1. 1 Min Read. MBS | MORTGAGE BACKED SECURITIES | NATIONAL MORTGAGE NEWSMORTGAGE BACKED SECURITY EXAMPLEMORTGAGE BACKED SECURITY MARKETMORTGAGE BACKED SECURITY MARKETMORTGAGE BACKED SECURITY MARKET TODAYMORTGAGE BACKED SECURITY PRICESMORTGAGE BACKED SECURITY PRICES Fed to taper bond buying in fourth quarter, economists say. More than two-thirds of the economists surveyed expect the Federal Open Market Committee will give an early-warning signal of tapering this year, with the largest number — 45% — looking for a nod during the July-September quarter. April 26. Commercial mortgages. CMBS NEWS | NATIONAL MORTGAGE NEWSCMBS MARKET NEWSCMBS MARKETCMBS LENDERS DIRECTORYCMBS MARKET CORONACMBS RESEARCHCMBS MARKET UPDATE Running on empty: Fitch finds office CMBS vulnerable to remote work. The lasting effects of work-from-home practices driven by the COVID-19 pandemic could slash some office property values to less than half of their original value – and lead to rating downgrades on affected CMBS transactions, according to Fitch Ratings. By Matt Hudgins. March

30.

2021 PREDICTIONS FOR MORTGAGE LENDING Fannie Mae predicts average rates for the 30-year fixed loan will remain at 2.8% through 2021 and only rise to 2.9% for 2022. The GSE's November forecast calls for $4.12 trillion in mortgage originations this year, up from $4.08 trillion in the October outlook. For 2021, the latest projections call for $2.72 trillion in volume, up from the $2.62 trillion that Fannie Mae Chief Economist Doug

COMMERCIAL LENDING

Marathon raises $900 million for asset-based loans as banks flee. The firm will invest in loans in health care, real estate, equipment and transportation, as well as corporate sectors backed by contractual cash flows, according to a statement Tuesday. January 26. Commercial

lending.

GNMA | GINNIE MAE | NATIONAL MORTGAGE NEWSGINNIE MAE MORTGAGESGNMA I VS GNMA IIGNMA MORTGAGE BACKED SECURITIESGNMA SERVICING GUIDELINES Ginnie Mae ends 2020 with its strongest month for MBS issuance ever. The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month. By Bonnie Sinnock. January 11. LIBOR. OCWEN SUBSIDIARY PHH TO BUY $48B IN MORTGAGE SERVICING The transaction goes a long way toward the company’s goal to amass MSRs with a total unpaid principal balance of up to $150 billion.

BONNIE SINNOCK

Bonnie Sinnock has been writing for National Mortgage News since 1995. She also has worked on other SourceMedia publications as an editor and a reporter. Previous to joining SourceMedia, her work appeared in publications that included the Los Angeles Times ARIZONA | NATIONAL MORTGAGE NEWS The U.S. Department of Veterans Affairs' report for its 2018 fiscal year reveals that the number of service members utilizing their home loan benefits, as well as the total loan funding offered, have increased significantly throughout Arizona in the last five years. By Kaitlin Olson. December 5. HOUSE FLIPPING LOANS COULD GET A BOOST FROM WALL STREET In California alone, the percentage of flips purchased with financing was 48% in 2017, compared to 36.5% in 2014, according to a LendingHome report based on data from the lender and Attom. During 2017, 48,020 homes were purchased in the state to be flipped, compared with 28,646 in 2014. The current growth in financing is a result of diminished HOME | NATIONAL MORTGAGE NEWSORIGINATIONSERVICINGCOMPLIANCE & REGULATIONSECONDARYTECHNOLOGYPEOPLE 2021 Best Mortgage Companies to Work For. National Mortgage News presents the third annual Best Mortgage Companies to Work For — a survey and awards program dedicated to identifying and recognizing the industry's best employers and providing organizations with valuable employee feedback. By Brad Finkelstein. March 1. 1 Min Read. MBS | MORTGAGE BACKED SECURITIES | NATIONAL MORTGAGE NEWSMORTGAGE BACKED SECURITY EXAMPLEMORTGAGE BACKED SECURITY MARKETMORTGAGE BACKED SECURITY MARKETMORTGAGE BACKED SECURITY MARKET TODAYMORTGAGE BACKED SECURITY PRICESMORTGAGE BACKED SECURITY PRICES Fed to taper bond buying in fourth quarter, economists say. More than two-thirds of the economists surveyed expect the Federal Open Market Committee will give an early-warning signal of tapering this year, with the largest number — 45% — looking for a nod during the July-September quarter. April 26. Commercial mortgages. CMBS NEWS | NATIONAL MORTGAGE NEWSCMBS MARKET NEWSCMBS MARKETCMBS LENDERS DIRECTORYCMBS MARKET CORONACMBS RESEARCHCMBS MARKET UPDATE Running on empty: Fitch finds office CMBS vulnerable to remote work. The lasting effects of work-from-home practices driven by the COVID-19 pandemic could slash some office property values to less than half of their original value – and lead to rating downgrades on affected CMBS transactions, according to Fitch Ratings. By Matt Hudgins. March

30.

2021 PREDICTIONS FOR MORTGAGE LENDING Fannie Mae predicts average rates for the 30-year fixed loan will remain at 2.8% through 2021 and only rise to 2.9% for 2022. The GSE's November forecast calls for $4.12 trillion in mortgage originations this year, up from $4.08 trillion in the October outlook. For 2021, the latest projections call for $2.72 trillion in volume, up from the $2.62 trillion that Fannie Mae Chief Economist Doug

COMMERCIAL LENDING

Marathon raises $900 million for asset-based loans as banks flee. The firm will invest in loans in health care, real estate, equipment and transportation, as well as corporate sectors backed by contractual cash flows, according to a statement Tuesday. January 26. Commercial

lending.

GNMA | GINNIE MAE | NATIONAL MORTGAGE NEWSGINNIE MAE MORTGAGESGNMA I VS GNMA IIGNMA MORTGAGE BACKED SECURITIESGNMA SERVICING GUIDELINES Ginnie Mae ends 2020 with its strongest month for MBS issuance ever. The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month. By Bonnie Sinnock. January 11. LIBOR. OCWEN SUBSIDIARY PHH TO BUY $48B IN MORTGAGE SERVICING The transaction goes a long way toward the company’s goal to amass MSRs with a total unpaid principal balance of up to $150 billion.

BONNIE SINNOCK

Bonnie Sinnock has been writing for National Mortgage News since 1995. She also has worked on other SourceMedia publications as an editor and a reporter. Previous to joining SourceMedia, her work appeared in publications that included the Los Angeles Times ARIZONA | NATIONAL MORTGAGE NEWS The U.S. Department of Veterans Affairs' report for its 2018 fiscal year reveals that the number of service members utilizing their home loan benefits, as well as the total loan funding offered, have increased significantly throughout Arizona in the last five years. By Kaitlin Olson. December 5. HOUSE FLIPPING LOANS COULD GET A BOOST FROM WALL STREET In California alone, the percentage of flips purchased with financing was 48% in 2017, compared to 36.5% in 2014, according to a LendingHome report based on data from the lender and Attom. During 2017, 48,020 homes were purchased in the state to be flipped, compared with 28,646 in 2014. The current growth in financing is a result of diminished MORTGAGE FORBEARANCES HIT LOWEST WEEKLY TOTAL SINCE About 65,000 plans scheduled to expire in May remain unaccounted for, which could lead to another big decrease next week. Additionally, 700,000 plans expire by the end of June as they reach the end of their 18-month forbearance period. By loan type, those backed by Fannie Mae and Freddie Mac decreased by 26,000 week-over-week, falling to a total

of 656,000.

FINTECH | NATIONAL MORTGAGE NEWS Plaid is said close to financing at about $13 billion valuation. The financial-technology firm Plaid is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa, according to people familiar with the matter. April

5.

MORTGAGE RATES FORECAST & PREDICTIONS Mortgage rate reversal could be just the start of significant movement. Depressed Treasury yields have kept mortgage rates under 3% recently, but positive economic news could indicate larger increases will follow this week’s uptick. By Paul Centopani. MORTGAGE VOLUME SPIKED TO 21-YEAR HIGH IN Q1 2021: ATTOM The median down payment went to $18,700, down from $23,250 quarterly but up from $13,250 annually. The down payment percentage of the median home price followed the same pattern, going to 6.1% from 7.4% the previous quarter and from 5% the year prior.

NMN ORIGINATION

Black Knight to buy mortgage marketing firm Top of Mind for $250M. This is the multi-hyphenate company’s sixth deal since the start of 2020 — a series of acquisitions in a variety of sectors within the industry, ranging from analytics to artificial intelligence. By Brad

Finkelstein.

2021 HURRICANES ESTIMATED TO COST $1.9 TRILLION IN WATER Storm-related reconstruction costs — a large share of which may be concentrated in the New York City area — are estimated to total $1.9

trillion

TRID NEWS | NATIONAL MORTGAGE NEWS CFPB report says disclosure rule has cost lenders. The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan.

By Kate Berry.

HERE’S WHAT’S IN THE CFPB’S NEW FAQ ON ESCROW RULES The agency is looking to clarify existing regulations around how these accounts are handled, based on questions it received. WHY THE HOT HOUSING MARKET MIGHT BE COOLING OFF 1 day ago · Higher prices are resulting in lower affordability levels, even with the average interest rate for the 30-year fixed mortgage as measured by Freddie Mac slipping back under 3% in recent weeks. "Entering June, the share of the median income needed to make the monthly payments on the median-priced home had risen to 20.5%," said Graboske, who pointed out that while lower than the 25-year CONSUMER HOME BUYING SENTIMENT DROPS TO NEW ALL-TIME LOW 1 day ago · While a growing share of consumers feel optimistic about the economic recovery underway, the extreme seller’s market made the majority of prospective borrowers pessimistic for only the second time in 10 years, according to Fannie Mae.

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GSE loan limit approaches $550,000 as home prices jump 7.4% The price increase illustrates the extent to which federal rescue programs and a supply-demand imbalance have been counterweights to economic pressures from the pandemic.

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Treasury Department

Yellen at Treasury could resuscitate Fed’s loan programs The Trump administration has compelled the Federal Reserve to shut down the Main Street Lending Program and other facilities that aid banks’ pandemic relief efforts, but President-elect Biden’s Treasury nominee could help turn the spigot back on.

By Hannah Lang

11h ago

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Mortgage fraud

Nine arrests made in alleged California mortgage relief scam The nine arraigned individuals face 136 counts of felony charges for allegedly running an advance fee mortgage relief scheme over the last decade, totaling $6 million.

By Paul Centopani

November 24

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BROKERS MUST DOUBLE DOWN ON MARKETING IN ERA OF ABUNDANCE With interest rates hovering near all-time lows, loan officers across the country are intensely busy assisting clients.

Partner Insights

Sponsor Content From Rocket Pro TPO Sponsor Content From Rocket Pro TPO

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Foreclosures

Zombie property sales drove September's foreclosure auction rise While sales increased 24% over August, they were still down 78% from the prior year, Auction.com reported.

By Brad Finkelstein

November 24

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Housing market

Small landlords are suffering most in rental sector: Harvard confirms The center’s annual study shows the extent to which larger multi-unit properties are insulated from distress.

By Bonnie Sinnock

November 23

Future of Cities

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As urban flight imperils large cities, some smaller ones see

opportunity

The greatest risks and potential for permanent change reside in the nation’s largest cities, ones with an outsized influence over its economy and finances.

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Shuttering of ‘gathering economy’ wreaks havoc on cities, live

event industries

The COVID-19 pandemic has pummeled the segments of the American economy tied to public gatherings. For the cities and industries most reliant on bringing people together, adaptation and perseverance will

be critical.

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Will remote work change central business districts? Even before COVID-19, urban economists and planners were pointing to a trend of suburbanization of job growth. That could now accelerate, with employers at an inflection point to assess their future needs.

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How ready are America's cities for the next big crisis? The coronavirus pandemic was something no local government could have anticipated. But it’s also raising serious concerns about cities’ preparedness for other difficult-to-predict challenges.

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The Future of Cities Former HUD Secretary Henry Cisneros and Regional Plan Association president Tom Wright join The Bond Buyer for a discussion on the ways life and work in American cities are being altered by the pandemic — and future challenges it illuminates.

Top Producers 2020

Top Producers

Purchase

Housing inventory

Housing

market

Mortgage technology

First time

home buyers

Referral

marketing

Top Producers

For Southern Top Producers, the inventory shortage curtails business More so than their colleagues nationwide, originators in the Southeast are concerned about how supply impacts their business.

By Brad Finkelstein

September 8

3 Min Read

Top Producers

Mortgage technology

Digital

mortgages

Purchase

Referral marketing

First

time home buyers

Underwriting

Refinance Housing

market

Top Producers

Northeast Top Producers view tech more favorably than counterparts Almost six in 10 completely agreed that company-provided technology met or exceeded their expectations.

By Brad Finkelstein

July 23

4 Min Read

Top Producers

Housing affordability

Purchase

Digital

mortgages

Mortgage technology

Housing

market

Underwriting

Marketing

Affordable housing

Top Producers

Midwest Top Producers said affordability issues need to be addressed Buying power for many consumers is hampered and some originators said that affects their ability to serve consumers.

By Brad Finkelstein

June 19

3 Min Read

BEST MORTGAGE COMPANIES TO WORK FOR Best Mortgage Companies to Work For Best Fintechs to Work For

Employee relations

Employee

engagement

Employee retention

Originations

Servicing

Digital

mortgages

Best Mortgage Companies to Work For Nominations open for the 2021 Best Mortgage Companies to Work for The third annual survey seeks to identify and recognize the best employers in the industry.

By Brad Finkelstein

September 1

2 Min Read

Best Mortgage Companies to Work For

Top Producers

Marketing

Originations

Economy

Best Mortgage Companies to Work For At Geneva Financial, an emphasis on a particular kind of human factor CEO VanTrojen: Employees are the No. 1 client.

By Brad Finkelstein

January 29

3 Min Read

Best Mortgage Companies to Work For

Recruiting

Training Top

Producers

Purchase

Refinance Compliance

Economy

Mortgage technology

Best Mortgage Companies to Work For In search for origination talent, an increased premium on experience Conundrum for lenders: How to overcome top producers' tendency to stay

put?

By Bonnie Sinnock

January 29

5 Min Read

MORE FROM NATIONAL MORTGAGE NEWS

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Purchase

Home sales surge in Sarasota-Manatee despite pandemic, low inventory Despite a tightening stock of homes on the market, home sales surged 38% last month in the Sarasota-Manatee, Fla., region.

By John Hielscher

November 24

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Delinquencies

Delinquencies keep falling in October, but still double 2019's rate Mortgage delinquencies dropped to the lowest level since March but, particularly at the seriously delinquent level, they're still much higher than pre-coronavirus rates, according to Black Knight.

By Paul Centopani

November 23

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Homebuilders

October's new-home mortgage apps up over 30%, bucking usual fall

trend

Consumer demand for larger properties is driving the market in an atypical year that featured a delayed selling season, the Mortgage Bankers Association said.

By Brad Finkelstein

November 23

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Litigation

GOP readies counterpunch if Biden removes CFPB chief The president-elect has legal backing to fire Director Kathy Kraninger thanks to a recent court ruling, but Republicans are prepared to challenge his ability to choose her successor.

By Kate Berry

November 23

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Commercial mortgages Where commercial lenders may find opportunity in a distressed market Gelt Financial looks to troubled sectors, including retail, for

prospective deals.

By Brad Finkelstein

November 23

Load More

Capacity: An AI powered helpdesk automation platform Capacity is a new kind of helpdesk, powered by artificial intelligence, that automates support for mortgage loan officers and

borrowers.

Advances in Tech

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Powering the Perfect Closing Sponsor content from Snapdocs

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OwnerInsight™ — Homeowner-Enabled Appraisal Inspection Tool Sponsor content from Clear Capital

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Modern lending begins with modern technology Sponsor content from Origence

Prepping for 2021

With an unusually high number of unknowns to factor in, mortgage industry leaders offer a peek at their playbooks for the next year

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