TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/343616
Th e M Rep o RT | 5 social life These sTories heaTed up MRepoRt's social Media channels. The sTory: is automated appraisal analysis the right next step? The scoop: In the midst of trying to maintain workflow with a smaller staff, there remains an increasing focus on effective appraisal analysis. Regulatory requirements, investor demands, corporate management, and now disclosure to the borrower have elevated the collateral analysis to the same level of scrutiny as financial analysis. Fortunately, great progress has been made in automated tools and services for appraisal analysis. The sTory: rising costs Turn per-loan profits into losses The scoop: After a rough 2013—which saw average per-loan profits decline by nearly half year-over-year—mortgage banks are now losing money on each loan originated, the Mortgage Bankers Association (MBA) reported Tuesday. According to the trade group, independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $194 on each loan originated in the first quarter of the year. The sTory: house committee Turns up heat on cordray The scoop: A week after appearing before the Senate Banking Committee, Consumer Financial protection Bureau (CFpB) Director Richard Cordray traveled back up the hill again on Wednesday to review the bureau's semi-annual report and take questions from the house Financial Services Committee. At the hearing, committee members asked Cordray to address a number of issues surrounding the embattled agency. The sTory: $1B Fannie Mae portfolio hits Market The scoop: As the second quarter comes to a close, a new $1 billion Fannie Mae bulk residential mortgage servicing rights (MSR) portfolio has hit the market. The announcement of the sale was made by Interactive Mortgage Advisors (IMA), which is acting as exclusive broker. The company describes the offering as "an excellent opportunity to focus and bid on newly originated MSRs with below market interest rates." @MGic "Thx guys! Excited to have them on board. RT @ TheMReportNews: MGIC Adds Two Industry Veterans to Staff" @shortsave "Loan Risk Surges in Final April Index via @ TheMReportNews" @davidabrahamson "Denial rates for minorities not too high but too low.—M Report" Talk of the Town Summer isn't only heating up the atmosphere, see what's hot on our social media channels.