The Mortgage Bankers Association (MBA) on Wednesday announced that Owen Lee, CEO at Success Mortgage Partners (SMP), has been nominated to serve as the association’s vice chairman for the forthcoming 2025 membership year. Lee’s nomination was announced by Mark Jones, the 2024 MBA chairman and president of Union Home Mortgage, who describing Lee as “an [...]read moreSuccess Mortgage CEO nominated as MBA vice chairman
Mortgage demand ticked up last week as interest rates decreased following the news of a slowing job market. Applications increased by 2.6% on a seasonally adjusted basis during the week ending May 3, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Treasury rates and mortgage rates fell last week on the news of a [...]read moreMortgage applications tick up as interest rates ease: MBA
Following an announcement that the U.S. Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, the National Reverse Mortgage Lenders Association (NRMLA) and the Mortgage Bankers Association (MBA) have [...]read moreNRMLA, MBA provide comments on HECM application, origination documents
Longtime reverse mortgage industry professional, advocate and leader Scott Norman has been appointed as the new CEO of the Texas Mortgage Bankers Association (TMBA). Norman is currently serving his fifth consecutive term as co-chair of the National Reverse Mortgage Lenders Association (NRMLA). He also works as vice president of field retail and director of government [...]read moreLongtime reverse mortgage leader Scott Norman appointed CEO of Texas MBA
Homebuyer affordability declined in March as mortgage rates and home prices remained elevated. The national median monthly payment for purchase mortgage applicants rose to $2,201 in March, up from $2,184 in February. That’s according to the Mortgage Bankers Association‘s (MBA) purchase applications payment index, which measures how new monthly mortgage payments vary across time relative [...]read moreMedian payment on purchase mortgage applications rises to $2,201: MBA
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks lost an average of $1,056 on each loan they originated in 2023, down from an average loss of $301 per loan in 2022, according to data released Thursday by the Mortgage Bankers Association (MBA). This was the largest loss recorded in the 15 years that [...]read moreFinancial results worsened for IMBs in 2023: MBA
Mortgage demand dipped last week as mortgage rates reached their highest levels since late 2023. Applications decreased by 2.7% on a seasonally adjusted basis during the week ending April 19, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. “Mortgage rates continued to move higher last week, reaching their highest levels since late [...]read moreMortgage demand slumps as interest rates move higher: MBA
Alicia Goncalves has joined the Mortgage Bankers Association (MBA) as director of associate membership, the trade association announced on Friday. In this role, Goncalves will serve as the primary point of contact for MBA’s associate members, supporting their business efforts and enhancing their engagement with MBA. “Alicia is a passionate industry advocate who brings nearly [...]read moreMBA appoints director of associate membership
The Mortgage Bankers Association (MBA) announced on Wednesday a series of legislative recommendations, which it sent to the chairman and ranking member of the U.S. House of Representatives’ Financial Services Committee as the body considers the markup of proposed bills centered on real estate financing. The first piece is House Joint Resolution 120, which would [...]read moreMBA issues support for real estate finance bills debated by Congress
Mortgage applications for new homes stalled in March as buyers felt the brunt of sustained home price growth. Compared to February 2024, mortgage applications for new-home purchases rose 1% in March. Applications were up 6.2% from March 2023, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey. According to MBA estimates, new single-family home [...]read moreDemand stalled in March for new-home purchases: MBA