Article Summary
Over a thousand industry professionals will gather in Manhattan for the MBA’s Secondary Conference. The median asking rent in New York City has increased to $3,397, and Missouri’s Senate passed a bill allowing landlords to discriminate against low-income renters. State and federal government policy will be discussed in today’s episode of Now Next Later.
What This Means for You
- Be aware of policy changes affecting renter protections.
- Stay updated on government policies in the mortgage and lending industry.
- Consider the impact of housing assistance programs on your business.
- Explore tools and services for managing electronic mortgage records and third-party risk.
Original Post
Nearly a thousand of us head to Manhattan in less than a week for the MBA’s Secondary Conference. In 2025 Q1, the median asking rent in New York City registered at $3,397, an increase of $179, or 5.6%, compared with a year ago. Sounds appropriate, given wage growth. In other rental news, the Missouri legislature passed a bill allowing landlords to discriminate against low-income renters. The Missouri Senate gave final approval to House Bill 595 which would prevent cities from enacting certain renter protections. This Bill was prompted by local legislation in some communities, most notably Kansas City, which bans landlords from denying leases to renters on the grounds that they receive housing assistance. Bill 595 would prevent cities from banning that practice, sometimes called source-of-income discrimination. One of the most common types of housing assistance is federal Section 8 housing vouchers, which allow low-income renters to have a portion of their rent covered by the government. State and federal government policy will be one of the topics on today’s episode of Now Next Later at 10AM PT. Sasha and Jeremy sit down with Taylor Stork, President of the Community Home Lenders of America, to reflect on CHLA’s recent Spring Fly-in in Washington, D.C., major policy discussions, key industry concerns, and how mortgage professionals can remain involved in shaping the future of lending.
Software, Products, and Services for Lenders and Brokers
BOK Financial is excited to announce the launch of its Mortgage Finance line of business. For more than 20 years, BOKF, NA has supported independent mortgage bankers as a top 10 dealer of mortgage-backed securities, offering trading liquidity, comprehensive treasury management platforms, structured product solutions, a deep organizational understanding and long-standing involvement in the mortgage banking space. The new vertical is dedicated to meeting the credit needs of non-bank mortgage originators across the country and will initially offer warehouse credit facilities with additional products to follow. Under the leadership of Donnie Martin, the Mortgage Finance group will create a full-service ecosystem tailored to the unique needs of these clients. Reach out to Donnie, Becky Lottridge, or Chris Thurber to schedule a meeting at the upcoming MBA National Secondary Conference in New York.
Now Available! Ncontracts 2025 Third-Party Risk Management Survey. Financial institutions are facing growing vendor risk challenges, from managing hundreds of third parties with lean teams to keeping up with evolving cybersecurity and AI risks. Those are just a few of the findings of The Ncontracts 2025 Third-Party Risk Management Survey, which breaks down the biggest trends, risks, and strategies shaping third-party risk management (TPRM) at financial institutions today. Packed with real-world insights, it’s your go-to resource for understanding where banks, credit unions, and mortgage companies stand, and how your institution compares. Here’s a quick look: 73% of institutions have two or fewer full-time employees managing vendor risk, even though more than half oversee 300+ vendors. Nearly half of institutions experienced a third-party cyber event last year, and AI ranks as the second-biggest TPRM risk heading into 2025. Plus, 85% of financial institutions see moderate to high value from their TPRM programs. Download the full report here.
For secondary market investors, confidence in the integrity and transferability of eNotes is essential, but not always guaranteed. DocMagic® solves this with purpose-built tools to store, manage, and securely transfer electronic mortgage records. SmartSAFE® eVault technology empowers customers to take advantage of automated eNote eCertification processes and validation of SMARTDoc® format and data. Additionally, SmartREGISTRY™ enables compliant servicing, transfer, and delivery operations between eRegistry participants, ensuring trust in every transaction. Together, these tools allow secondary market participants to reduce risk, uphold data quality, and maintain long-term compliance throughout the digital mortgage lifecycle. Visit DocMagic or contact Leah Sommerville, Director of Sales, to get started.
According to the LenderLogix Q1 2025 Homebuyer Intelligence Report, pre-approval activity surged nearly 38% to start the year, with more buyers moving from pre-approval to application faster than ever. In fact, the average time between pre-approval and application dropped by nearly two weeks compared to Q4 2024, signaling growing borrower confidence and a competitive purchase environment. Read the full report.
FREE EBOOK: Helping Borrowers Navigate Loan Products & Pricing: A Loan Officer’s Guide to Winning Trust and Closing More Loans. Today’s borrowers are overwhelmed with fluctuating rates, rising home prices, and a maze of loan options. A loan officer’s ability to simplify the process and offer clear, fast solutions is the ultimate advantage. In Maxwell’s eBook, LOs will learn how to quickly deliver personalized, easy-to-understand loan comparisons that build borrower confidence and set you apart from the competition. Discover time-saving strategies, tech tips, and proven methods to create a seamless borrower experience, and close more deals. Click here to download “Helping Borrowers Navigate Loan Products & Pricing: A Loan Officer’s Guide to Winning Trust and Closing More Loans.”
Docutech is your source for comprehensive, compliant, digital-first document technology. Now, there’s even more to discover from Docutech. As a leader in origination document generation and eClose solutions, and a First American brand, Docutech is expanding its offerings to include document solutions for lien release, servicing, and loan modification. Find out how Docutech is supporting clients at every stage of the mortgage life cycle.
The mortgage industry has been stuck in a time warp: endless document chaos, manual sorting, and data extraction that feel like digging for treasure with a spoon. Enter IDXGenius | AI Indecomm: the game-changer that turns your document headaches into streamlined, automated, AI-powered brilliance. No more drowning in document madness or missing critical documents and data, just smart indexing and versioning, and accurate document-to-data extraction that keeps your team moving forward. With 1,200+ documents pre-mapped, IDXGenius | AI offers 100% accuracy in document classification and 98-100% accuracy in extracted data. While others are still stuck in the past, your mortgage operations just got a modern upgrade. Lenders: leave behind outdated methods and embrace document processing efficiency that doesn’t break the bank. Discover more at idxgenius.ai or request to watch the demo on-demand.
Have you heard about the new Encompass® LO mobile app, part of ICE Customer Acquisition? Integrated with Encompass, it’s designed to give loan officers the tools they need to keep their pipelines moving with a single-pane, mobile-first experience. With this app, your team can stay connected to borrowers, manage pipelines efficiently and make informed decisions no matter where they are. Wondering how this tool can help your team respond faster, work smarter and close more business? Nick Belenky, Managing Director of Solution Sales at ICE Mortgage Technology, dives into the details in his latest blog. Read the blog here to learn more.
“AFR Tech Update: Enhancements to Drive Efficiency! AFR is excited to announce several powerful new features to streamline workflow and enhance the experience. ICD Enhancements: New required fields (real estate agent info for purchases, MERS MIN for Correspondent Non-Del) to boost accuracy and compliance. Disclosure package: Invites with messaging based on loan registration status. Smarter Pricing Search: Select “Not Specified” as the underwriting type to view FNMA and FHLMC pricing in one search. AUS Transparency: Full DU or LPA error messages now display when AUS issues occur. From automation improvements to simplified borrower engagement and smarter processes, these updates are built to save you time and keep your loans moving. Already a partner? >>Check out these details now. Not yet a partner? Partner with AFR today. We’re continuing to invest in the tools and pricing that help you succeed. Learn more: sales@afrwholesale.com, 1-800-375-6071, or www.afrwholesale.com. (NMLS 2826) Let’s grow together!”
Webcasts, Podcasts, and Events This Week
Every conference has an LTV ratio: the percent of “Lenders to Vendors.” Cutting edge mortgage stats aside, a good place for longer term conference planning is to start is here for in-person events in the future; and organizers can post their event!
There’s a smarter way to tap into the $32 trillion in U.S. home equity, and it doesn’t involve refinancing a low-rate first mortgage. On Wednesday, May 14 at 1 PM ET / 10 AM PT, NMP Webinar presents DealDesk: Focus on Brokers Advantage Mortgage’s Non-QM Closed End Second, an interactive session designed for originators ready to close loans right now! Join industry veterans Bill Ashmore and Pete Lunetto as they break down Brokers Advantage Mortgage’s CES DSCR program built specifically for today’s market: up to $750K loan amounts, CLTVs to 90%, and Full Doc, 1099 and P&L income options. Whether you’re working with self-employed borrowers or navigating complex credit scenarios, this DealDesk delivers practical guidance and answers in real time to help you close more loans. Secure your spot and bring your toughest scenarios here.
Technology and innovation in residential lending are the focus of Now Next Later today at 1pm ET.
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