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The CEO of SWBC Mortgage discusses her top priorities for the Mortgage Bankers Association, the election, the CFPB's seasoned QM proposal and what to expect at this week's conference.

There will be no cocktail parties, breakfasts, lunches and dinners at this year's annual convention for the Mortgage Bankers Association. Instead of industry folks traveling to Chicago as was planned, arranging meet and greets in the exhibit halls, participants will sit in front of their computers in homes scattered across the country, thanks to the precautions created by the pandemic.

In too many places, identity verification and other vetting is still done manually, says Signicat's John Erik Setsaas.

The predominantly white universe of real estate investors may be used to working with people and companies with enough financial resources to have a track record in the business, but historic inequities have limited those opportunities for Black executives.

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

For many borrowers who might have qualified for conventional financing before the pandemic, non-QM loans are the only path forward toward homeownership.

As financial distress mounted, 12.4% of mortgagors missed payments across the second and third quarters of 2020 — and it could get worse, according to a study from the Mortgage Bankers Association.

This year will top the total volume generated in the housing boom year of 2003. Meanwhile, next year's 30-year FRM is predicted to stay at 2.8%.

In the Philadelphia metropolitan area, the number of homes that sold in 10 days or fewer jumped from about 1,730 in September 2019 to roughly 4,250 last month.