Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Politics & Money

MBA urges Cuomo to veto New York IMB bill

Bill has passed both houses of the state legislature

The Mortgage Bankers Association asked besieged New York Gov. Andrew Cuomo to veto a bill which would enact Community Reinvestment Act-like requirements for independent mortgage banks (IMBs) chartered in the state.

If the bill were enacted, regulators would scrutinize applications submitted by mortgage bankers licensed in New York based on the “performance of  the mortgage banker in helping to meet the credit needs of its entire community, including low and moderate income neighborhoods.”

Regulators would also assess IMBs’ record based on a number of factors, including marketing practices and community outreach, the geographic distribution of its credit extensions, applications, and credit denials, and its participation in government-subsidized loan programs.

The MBA called the bill “unnecessary,” and said it “fails to consider the existing legal infrastructure and significant industry efforts that have greatly expanded mortgage lending to low- and moderate-income (LMI) borrowers in New York.”

The trade group added that the bill “advances a false narrative” that IMBs are unregulated, a view which it, and others who have argued against imposing such requirements on nonbanks, stridently opposed.


How student lending can benefit non-bank lenders

CampusDoor CEO Steve Winnie and Tom Piercy, Managing Director of Incenter Mortgage Advisors, discuss how student lending can impact non-bank originators.

Presented by: Incenter

“The Fair Housing Act and Equal Credit Opportunity Act (ECOA) apply to all mortgage lenders, IMBs included, and include strict penalties for discrimination,” the MBA wrote.

It also pointed out that there is a “vast network of state and federal regulators” that already enforce those rules, including the Consumer Financial Protection Bureau, the U.S. Department of Justice, the Housing and Urban Development Office of Fair Housing, the New York State Attorney General, and the New York Department of Financial Services.

Nevertheless, the bill, which is sponsored by two Democratic representatives of Buffalo, New York, Democratic state Assembly member Crystal Peoples-Stokes and Sen. Tim Kennedy, has so far sailed through both houses of the state legislature. It now awaits Cuomo’s signature.

The MBA sent the letter requesting he veto the measure at the end of July, before the New York Attorney General published a report which found he sexually harassed 11 women. In the wake of the report, Democrats including President Joe Biden and Sen. Majority Leader Chuck Schumer (D-NY) called for him to resign.

Leave a comment

Most Popular Articles

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy. HW+ Premium Content

Oct 25, 2021 By and

Latest Articles

What does the future hold for appraisal tech?

HW+ Managing Editor Brena Nath had the opportunity to catch up with Global DMS President and CEO Vladimir Bien-Aime at MBA Annual to talk more about what’s next for the appraisal industry in terms of technology.

Oct 27, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please