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.

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.

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.