Given the recent coronavirus pandemic, MBA has been working diligently to create resources and materials to help our members and their customers. The first item below details these efforts. Additionally, there are several other unrelated key updates we wanted to highlight in this week’s communication.
Category: News and Trends
MBA: Commercial/Multifamily Mortgage Debt Grows by Largest Annual Amount Since 2006
The Mortgage Bankers Association reported commercial/multifamily mortgage debt outstanding at the end of 2019 rose by $248 billion (7.3 percent) from a year ago.
The Latest on LIBOR Transition with MBA’s Andrew Foster, Dan Fichtler
MBA NewsLink interviewed Mortgage Bankers Association Associate Vice President of Housing Finance Policy Dan Fichtler and Associate Vice President of Commercial/Multifamily Andrew Foster about the transition away from the London Interbank Offered Rate to a successor index for floating-rate loans.
MBA Coronavirus Resource Center Update
In a Mar. 13 Member Letter, MBA President and CEO Robert Broeksmit, CMB, detailed MBA’s efforts with various federal regulatory agencies, including HUD and Ginnie Mae, as well as the Federal Housing Finance Agency, Fannie Mae and Freddie Mac, to streamline policies and procedures that will allow lenders to assist borrowers throughout the coronavirus pandemic.
People in the News
Sagent Lending Technologies, King of Prussia, Pa., appointed Dan Sogorka CEO and president, replacing Bret Leech who will become executive chairman and board member.
MBA Chart of the Week: Refinance Index and 30-Year Fixed Mortgage Rate
Treasury rates and mortgage rates have fallen to historic lows, driven down by the market turmoil and volatility caused by the uncertainty around the spread of the coronavirus.
Fed Cuts Interest Rates to Zero; Announces $700 Billion in Stimulus
The Federal Reserve yesterday pre-empted its own regularly scheduled policy meeting this week, announcing an extraordinary full percentage point cut to the federal funds rate and sweeping purchases of government bonds and agency mortgage-backed securities.
The Best Time to Sell a House? There’s Data for That
With the spring home-buying season well underway, it raises a question: is there a best time to sell a house? According to Zillow, Seattle, the answer is yes—depending on need.
MBA Advocacy Update
Given the recent coronavirus pandemic, MBA has been working diligently to create resources and materials to help our members and their customers. The first item below details these efforts. Additionally, there are several other unrelated key updates we wanted to highlight in this week’s communication.
MBA: Commercial/Multifamily Mortgage Debt Grows by Largest Annual Amount Since 2006
The Mortgage Bankers Association this morning reported commercial/multifamily mortgage debt outstanding at the end of 2019 rose by $248 billion (7.3 percent) from a year ago.