The Mortgage Bankers Association on Monday asked for a meeting with Treasury and Federal Housing Finance Agency officials to address MBA member concerns over newly imposed limits on government-sponsored enterprise operations that could cause potential disruptions to the housing finance system.
Category: News and Trends
MBA Urges Treasury, FHFA to Reconsider GSE Purchase Caps
The Mortgage Bankers Association on Monday asked for a meeting with Treasury and Federal Housing Finance Agency officials to address MBA member concerns over newly imposed limits on government-sponsored enterprise operations that could cause potential disruptions to the housing finance system.
In Bidding Wars, Cash—Especially All-Cash—is King
With more than half of home sales in many U.S. markets seeing multiple offers, one strategy seems to be working in winning the bidding war—cold, hard cash.
February Existing Home Sales Drop 6.6%
Existing home sales declined in February, following two prior months of gains, the National Association of Realtors reported yesterday.
MBA: Share of Loans in Forbearance Falls to 5.05%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance fell by 9 percent to 5.05% of mortgage servicers’ portfolio volume as of March 14 from 5.14% the week earlier–the lowest level in nearly a year. MBA estimates 2.5 million homeowners are in forbearance plans.
MBA Opens Doors Foundation Announces Alliance with The Children’s Hospital at Saint Francis
The MBA Opens Doors Foundation announced a new alliance with The Children’s Hospital at Saint Francis in Tulsa, Okla. The alliance is the Foundation’s first in Oklahoma and brings the number of children’s hospitals in its network to 13.
Low-Income Renters Not Seeing Pandemic Savings
Rent growth has slowed during the pandemic, seemingly a boost for rent affordability. But more expensive areas tended to soften the most, giving little respite to renters in lower-priced areas, reported Zillow, Seattle.
Quote
“MBA is concerned that limits on certain features of the Enterprises’ businesses, as well as the manner in which these limits are implemented, could cause unnecessary disruptions in the housing finance system.”
–MBA President & CEO Robert Broeksmit, CMB, in a Mar. 22 letter to Treasury Secretary Janet Yellen and FHFA Director Mark Calabria.
Dealmaker: Eastern Union Closes $57M for Skilled-Care Facilities
Eastern Union, New York, secured a $57 million bridge financing package for two skilled-care facilities in Florida and two in Massachusetts. The facilities house 544 beds in total.
MBA Advocacy Update Mar. 23, 2021
On Monday, HUD finalized updated forms in the FHA Single-Family Condo approval process. On Tuesday, the Senate Banking, Housing, and Urban Affairs Committee held the first of what is expected to be a series of oversight hearings on housing policy this year. And on Thursday, MBA submitted feedback to FHA in response to ML 2021-05, which extends the foreclosure and eviction moratorium and expands the use of FHA’s COVID-19 Loss Mitigation options.