MPA TV brings you closer to the industry's most influential leaders and thinkers. Click on the videos below to watch the interviews:

Showing 1 - 9 of 36

MPA Weekly News Roundup

Take a look back at the stories that shaped the week and impacted the industry with MPA's Weekly News Roundup.

Video transcript below:

Hi and welcome to Mortgage Professional, America’s weekly news roundup.  Well we’ll have a look at the headlines that have shaped your industry this week.  

Today we will be looking at 2013 origination figures, some of the negative consequences of interest rates spikes and opportunities arising in the commercial lending sector. 

We take a look at a recent report that was released this week, that showed that the number of new mortgage originations during the first 4 months of 2013 was on track to be higher than the same period during 2012. The Mortgage Monitor Report released Monday by Lender Processing Services, showed that there were about 3.2 million in new originations from January to April of 2013 compared to only 2.5 million during the first four months of 2012.  The report showed that originations were strong, coming close to 2007 levels.  It’s difficult to know however if this will mean higher origination figures for 2013 overall.

Origination numbers only reflect the data till April 2013.  Therefore not including the months of May and June, when interest rates soared more than 1% to nearly 5%.  Higher interest rates will reduce housing affordability.  Some say 1% is equivalent to an increase of 10% cost to a home purchase.  We are not yet certain how much interest rates will affect housing demand.  But it will be more clear in July’s new home sale figures released at the end of the month.

In a report by the Wall Street Journal this week, however Bank of America, Merrill Lynch Economist predicted that housing demand shouldn’t dramatically change until rates reached about 6%.  It’s still uncertain whether we will reach that number this year, but the report did note that a faster uptake in rates will more negatively affect home buyer demand.  On the supply side, inventory is still incredibly low, but there are signs that it’s improving.  

According to Redfin, an online real estate database and info provider, there are about 185,000 properties on the market nationally at the end of May, up about 4% from last month, but still down 22% from last year.  Inventory could be relieved if institutional investors started releasing some of the inventory they purchased following the financial crisis, but it doesn’t appear that they will be doing so any time soon.  Bloomberg reported this week that Blackstone Group, one of the world’s largest private equity firms that purchased more than $250 million in homes in 2012 and more in 2013, will start selling their properties to other investors who hope to do buy to rent strategies.

Under the financing arm called B2R finance, which stands for Buy to Rent, Blackstone will start financing to investors who want to use the same strategy as they did, buying properties on the cheap and making them rental properties, the strategy is expected to last for years, generating a great deal of income for investors, but continually starving the market and inventory for purchase.  

It’s been reported that Blackstone is on track to purchase 30,000 homes in 2013 alone. K. C. Conway, Chief Economist from Colliers International, a commercial real estate resource provider told MPA that strength in the industrial warehouse market will be driven by events like the Panama Canal expansion which is expected to increase the size and frequency of shipments on the East Coast.  Conway explains that places like Baltimore, Maryland and Norfolk, Virginia which are connecting post Panama ports are cities that are likely to see the most of that industrial expansion.

That’s all for this week’s MPA weekly news roundup.  We hope to have all your eyes and ears next time on MPA.

  • Edge out your competition at Power Originator Summit Edge out your competition at Power Originator Summit

    Franklin Covey Executive VP of Strategic Markets Shawn Moon will be at the Power Originator Summit to share secrets to optimizing your business. Join him at the Anaheim Convention Center on April 4th.

  • Tony Guidicessi on Citadel and the changes to non prime lending Tony Guidicessi on Citadel and the changes to non prime lending

    While it’s still a relatively small fraction of the mortgage market, non-prime is coming back in a big way. At the forefront of this resurgence is Citadel Servicing Corporation. MPA recently chatted with Citadel’s Tony Guidicessi about what sets Citadel apart from the pack – and how non-prime has changed since the pre-crisis days.

  • Aaron Nemec on giving originators tools to succeed Aaron Nemec on giving originators tools to succeed

    With a changing regulatory environment and another Fed rate hike expected by the end of the year, the mortgage industry is in a state of flux. So how can originators keep their business booming? MPA recently sat down with Academy Mortgage Corporation’s Aaron Nemec to find out how Academy gives its originators the tools for success.

  • Shant Banosian on building your business Shant Banosian on building your business

    The only thing certain about the mortgage industry is that the landscape is ever-changing. So how can loan officers keep their business strong through market fluctuations and regulatory uncertainty? MPA recently sat down with one of the country’s top originators, Guaranteed Rate’s Shant Banosian, to chat about how he keeps his business booming through thick and thin.

  • Ray Bartreau on the state of the mortgage industry Ray Bartreau on the state of the mortgage industry

    The last few years have seen a lot of change in the mortgage industry. And now, continued home-price gains, regulatory uncertainty and a new administration mean even more change on the way. MPA recently chatted with Raymond Bartreau of Best Rate Referrals about the current state of the industry.

  • Busting the myths around VA loans Busting the myths around VA loans

    Many originators shy away from VA loans, thinking they'll be too complicated. Coming off of a record-breaking year for VA loans, the product can be more viable now than ever. MPA sits down with Carrington's Ray Brousseau to get his take

  • CFPB oversight bill passes House CFPB oversight bill passes House

    House Financial Services Oversight & Investigations Subcommittee Chairman Sean Duffy’s bill passed with an overwhelmingly bipartisan vote of 401 to 2 this week. The bill would bring greater transparency and accountability to the Consumer Financial Protection Bureau.

  • RealtyTrac: Zombie foreclosures are a consistent problem RealtyTrac: Zombie foreclosures are a consistent problem

    The share of zombie homes has increased, despite the decline in total foreclosures, according to the latest data from RealtyTrac.

  • NAMB: CFPB's rate checker tool problems NAMB: CFPB's rate checker tool problems

    The CFPB released its rate checker tool in an attempt to better prepare consumers for buying a home. While their intentions may have been good, the result was not, according to NAMB.