The mortgage business is like being a camel. You go through the harsh unpredictable desert with no guarantees when there’ll be water. And when you find water you drink it up and hoard as much of it as you can because there’s no guarantee you’ll find another watering hole anytime soon.
Category: News and Trends
MISMO Seeks Nominations for Standards Governance Committee Members–Deadline Oct. 7
MISMO is calling for nominations for industry professionals to serve on its Standards Governance Committees beginning in January. Positions are available on both the Residential and Commercial Standards Governance Committees.
Congress Passes Three-Month, Stopgap Funding Bill; NFIP Also Extended Until December
Wednesday evening, the U.S. House and Senate passed an identical Continuing Resolution that averts a government shutdown and extends Fiscal Year 2024 funding levels through December 20, 2024.
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“With the widespread destruction brought by Hurricane Helene, we need to come together to help communities recover.”
–Wells Fargo Foundation President Darlene Goins discussing the bank’s donation toward Hurricane Helene relief. For more examples of industry assistance, see “Mortgage Industry Steps Up to Assist Homeowners Affected by Hurricane Helene”
MBA Statement on FHFA’s Suspended Counterparty Program Re-Proposal
MBA President and CEO Bob Broeksmit, CMB, issued the following statement regarding the Federal Housing Finance Agency’s announced re-proposal of amendments to its Suspended Counterparty Program (SCP) regulation:
Ashley Puckett, CMB, AMP–An MBA Education Path to Diversity Scholar Profile
One in a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.
SitusAMC: Commercial Real Estate Values Stabilize; Investor Sentiment Improves
The commercial real estate market appears to be stabilizing, with market participants seeing relief on the horizon as interest rates have started to decline, according to SitusAMC’s latest CRE Debt and Valuation Trends analysis.
MBA: Mortgage Application Payments Decreased 3.9% to $2,057 in August
Homebuyer affordability improved in August, with the national median payment applied for by purchase applicants decreasing to $2,057 from $2,140 in July. This is according to MBA’s Purchase Applications Payment Index.
CBRE: High-Supply Multifamily Markets Starting to Recover
CBRE, Dallas, reported that multifamily markets that have seen the most growth in new supply–and thus the most negative effective rent growth–may be recovering soon.
MBA Recognizes Our Premier Members
MBA is proud to recognize its Premier Members and to thank them for their continued support of MBA and the real estate finance industry.