The FHA recently announced a new portal for HUD’s Single Family Mortgage Asset Recovery Technology (SMART) system. The self-service portal, named the SMART Integrated Portal (SIP).
Today’s commentary: 100 percent the truth except for the stuff I make up randomly. I am not making up the Federal Reserve’s meeting this week with traders nearly certain that a 25-basis point rate hike will be announced. And I am not making up today’s nickname: Pi Day has come around once again, which is also, coincidentally, Albert Einstein’s birthday. (Albert had his share of quirkiness, including marrying a woman who was his cousin on his mother’s and father’s side.) Although pizza promotions have taken over this date, every year March 14 (3.14) celebrates the irrational number that we use to explain the relationship between a circle’s circumference and diameter, bringing joy to nerds everywhere. Pi is an irrational and transcendental number meaning it will continue infinitely without repeating. Wells Fargo sure hopes that its mortgage scandals won’t continue indefinitely. Wells, which represented the “gold standard
Loan originators spend their time making people’s days (unlike this film clip). Builders hope that they make people’s days, and I spent some time this week with building industry expert Ivy Zelman. She is very interested in watching the “build-to-rent” phenomenon, and sure enough… “Build-for-rent housing has boomed since the pandemic began. More than 6,700 build-for-rent homes were completed in 2021 alone, marking a record-breaking year for the sector. This year is set to surpass those numbers by a landslide… 2022 may see more than double last year’s completions, clocking a whopping 14,000 build-for-rent homes by the end of the year.” Meanwhile, lenders are always looking for more deals and more customers. Headlines talk about a smaller mortgage market in 2022 and how lenders are reducing head count to accommodate the smaller market. Yet, two thirds of potential customers did not transact last year. According to NerdWalle
The Federal Housing Administration (FHA) announced on Thursday the launch of a new portal for the Department of Housing and Urban Development’s Single Family Mortgage Asset Recovery Technology (SMART) system.