Servicing

The FHA has issued its Annual Report to Congress for fiscal year 2023, highlighting the impact of insurance premium reduction, assistance for approximately two million struggling homeowners, and support of underserved borrowers and communities.

Five finalists have been named for the Five Star Institute Keys in Hand Award, shining the light on women in the industry who have spearheaded efforts to increase homeownership opportunities for all.

“Mortgage applications decreased for the seventh time in eight weeks, reaching the lowest level since 1996,” said Joel Kan, MBA’s VP and Deputy Chief Economist. “Last week’s decline was driven by a 5% drop in refinance applications, to the weakest reading since January 2023.”

Meet the five finalists for the Five Star Institute’s 2023 Leadership Award, who will be recognized by their peers for assembling diverse teams and fostering women leadership roles in C-Suite roles at the Women in Housing Leadership Awards Luncheon.

The MBA's Mortgage Credit Availability Index revealed that August's share of mortgage credit availability was on the upswing after a decrease in July, which resulted in the lowest level of credit availability recorded since 2013.

Newest Board member of Fay Financial brings 30 years of experience in residential mortgage, community banking, affordable housing, and diversity and inclusion initiatives to his new role.

A new mortgage report from ATTOM revealed U.S. lenders issued approximately $494 billion worth of residential mortgages in Q2 of 2023, while total activity rose after eight straight quarterly declines to 21%.

“Volume picked up during the spring homebuying season and additional personnel were shed. However, the substantial cost savings per loan was not enough to put the average net production income in the black,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.

With extensive product strategy and technology leadership experience in the real estate industry, Fortier will direct and continue to enhance the Paragon Connect system, which provides real estate agents on-the-go access to advanced agent-client collaborative features and business management tools.

“Mortgage credit availability declined to its lowest level since 2013, as lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders,” said Joel Kan, MBA’s VP and Deputy Chief Economist. "Declining origination volumes have led to lower profitability for many lenders, resulting in narrower loan product offerings to reduce operational costs.