Of all generations, millennials represent the single largest buying pool. Yet, across the industry there is a common belief that millennials aren’t interested in buying homes right now. Most lenders attribute this to affordability, high student debt, the appeal of metropolitan life and less loan availability.
Category: News and Trends
Mark P. Dangelo: The Challenges of Reskilling—Part 3
While reskilling initiatives lack the sensationalism of postulating alien radio waves, the innovation predicament caused by continuous innovation cannot be “waved away” by slogans, academics or politicians. Reskilling workforces is likely the largest challenge of the decade facing every banking leader.
MBA Cancels Technology Solutions Conference
The Mortgage Bankers Association canceled its Technology Solutions Conference & Expo in Los Angeles out of concerns stemming from the spreading coronavirus crisis.
MBA Advocacy Update
This past Monday, the House passed two MBA-supported affordable housing proposals that now head to the Senate for consideration. On Friday, the Consumer Financial Protection Bureau announced several important initiatives designed to prevent consumer harm.
MBA, Trade Groups Urge Congress to Ban GSE G-Fee Offsets
The Mortgage Bankers Association and nearly three dozen other industry trade groups, in a Mar. 6 letter to House and Senate leadership, urged Congress to continue to prevent use of Fannie Mae and Freddie Mac guarantee fees as a source of funding offsets.
CFPB Implements Advisory Opinion Program, Amends ‘Responsible Business Conduct’ Bulletin
The Consumer Financial Protection Bureau on Friday announced several Mortgage Bankers Association-recommended steps to offer clear guidance to lenders and servicers.
The Week Ahead
Consumer Financial Protection Bureau Director Kathy Kraninger appears before the Senate Banking Committee this Tuesday, Mar. 10 to deliver The Bureau’s Semi-Annual Report to Congress.
MBA Chart of the Week: 30-Year Fixed Rate vs. 10-Year Treasury
The yield on U.S. 10-year Treasuries fell to record lows last week, driven by increasing concerns regarding the spread of the coronavirus and its impact on the global and U.S. economy. Just last week, there has been an increase in occurrences of business shutdowns, travel restrictions and potential spending reductions.
February Jobs Report on Solid Ground, Pre-Coronavirus
Total nonfarm payroll employment blew though expectations in February, adding 273,000 job, the Bureau of Labor Statistics reported Friday.
2020: Year of the Woman (Homeowner)
A report from real estate tech companies Better.com and Compass finds homeownership for women is on the rise, thanks to recent advances in technology during the home buying, selling and financing processes have helped eliminate bias and discrimination women have historically faced on the journey to homeownership.