Quote

“As more homeowners reach the end of their forbearance term, “we should continue to see the share in forbearance decline. The improving job market and strong housing market are providing support for those who do exit.”
–MBA Chief Economist Mike Fratantoni.

MBA Endorses Plan to Significantly Increase Black Homeownership by 2030

The Mortgage Bankers Association endorsed an announcement by the Black Homeownership Collaborative to close the Black homeownership gap through its 7-point plan – a solutions-based initiative to increase Black homeownership by 3 million net new households by 2030.

Quote

“COVID-19 made it clear that certain methods needed to be updated to keep up with our ever-changing world and economy,. One of the areas that this was most prevalent was our notarization process passing legislation like the SECURE Notarization Act allows us to do just that.”
–Rep. Madeline Dean, D-Pa., co-author of legislation that would notaries nationwide to perform Remote Online Notarization transactions.

MBA, Lenders Seeks Clarity on Juneteenth Holiday Designation

With unusual speed and rare bipartisan agreement, Congress last week passed, and President Biden signed, legislation designating June 19—colloquially known as “Juneteenth”—a federal holiday, a move welcomed by Americans and supported by the Mortgage Bankers Association and thousands of businesses nationwide. But the speed of the designation—with Friday, June 18 designated a federal holiday—resulted in unintended consequences and disruption for the mortgage lending industry.