Category: News and Trends

Quote

“Housing is not like most goods. It has to be ‘better’ than the one the potential buyer currently owns, and when the supply dwindles, it becomes harder to find a better house and easier to just refinance and do a renovation instead. This fear of not being able to find something better, the fact that selling and moving is costly, combined with the fact that one can refinance into an amazingly low rate. Why move?”
–Odeta Kushi, Deputy Chief Economist with First American Financial Corp., Santa Ana, Calif.

| By MBA NewsLink Staff

MBA Advocacy Update

Last Thursday MBA asked HUD to withhold publication of its final disparate impact rule and to bring the housing, lending and civil rights communities together for renewed discussions about how to address the wide housing and wealth gaps faced by communities of color.

| By MBA NewsLink Staff

Housing Starts Post Healthy June Gain

July has been a good month for the housing industry thus far; HUD and the Census Bureau kept the momentum going Friday with a positive report on housing starts.

| By Mike Sorohan

MBA Chart of the Week: Unemployment Insurance/Initial Claims

This week’s chart highlights initial unemployment claims data from the U.S. Department of Labor, portraying the speed and severity of the labor market’s deterioration during the COVID-19 pandemic, as businesses closed or transitioned to remote working arrangements.

| By MBA NewsLink Staff

The Week Ahead

Here in Washington, Congress and the Administration face a critical two weeks—and a time crunch—if there is going to be any compromise/agreement on a new economic stimulus package before the current package expires on July 31.

| By Mike Sorohan

FHLB of Des Moines, Ginnie Mae Get on the eNote Bus

Last week saw a few speed bumps leveled in the road to the complete digital mortgage, with the Federal Home Loan Bank of Des Moines and Ginnie Mae announcing they would begin accepting residential mortgage electronic promissory notes—eNotes—as collateral.

| By Mike Sorohan

Brian Simons: The Modern Operating Model for Mortgage Lenders

In the last five years, lenders have made great strides with significant investments in best-in-class borrower experiences, navigating a plethora of new digital tools, all while adeptly navigating the ups and downs of the market. In my experience, unfortunately, most initiatives to cut costs and improve quality are short-lived or merely incremental. What I have found over my 25 years in this industry is that transformational growth only occurs when senior leadership commits itself to reevaluating their entire operating model.

| By MBA NewsLink Staff