NEW YORK—When Mortgage Bankers Association President & CEO Bob Broeksmit, CMB, stepped on stage Monday here at the National Secondary Market Conference & Expo, he promised a presentation “more pugnacious than normal.” And he delivered.
Category: News and Trends
Tech Sector Pressures Major Office Markets
Office-using sectors added 67,000 jobs in April–a 2% year-over-year increase–but demand for office space remains weak across major markets, reported CommercialEdge, Santa Barbara, Calif.
Dealmaker: JLL Arranges $220M Multifamily Recapitalization
JLL Capital Markets, Chicago, arranged $219.9 million to recapitalize Landmark South, a 631-unit mid-rise multifamily community in Doral, Fla.
MBASecondary23: The Future of Financial Stability
NEW YORK—What issues are affecting the financial markets? Here at the Mortgage Bankers Association’s National Secondary Market Conference & Expo, panelists said much of the future depends on what happens—or doesn’t happen—in Washington, D.C. over the next year or so.
Seth Sprague, CMB, of Richey May: Now’s the Time to Prepare for FHFA/Ginnie Mae Rules Changes for Non-Bank Servicers
On August 17, 2022, the Federal Housing Finance Agency and Ginnie Mae jointly announced updated minimum financial eligibility and capital rules for seller/servicers and issuers. These changes update the capital and financial eligibility requirements for non-bank servicers that have been modified over the past year. Understanding the new requirements is critical for seller/servicers and issuers to maintain compliance; however, these changes also raise potential strategic and operational challenges in the future.
Sponsored Content from SWBC: Mortgage Market Outlook and Risk Management Strategies for Lenders
As the mortgage market continues to evolve, mortgage servicers face new challenges and opportunities. A solid understanding of the latest industry trends, economic outlook, and regulatory requirements is essential for success in this competitive landscape.
MBA Advocacy Update May 22, 2023
Last week, MBA filed a joint amicus brief with the Supreme Court in Community Financial Services Association v. Consumer Financial Protection Bureau, where CFSA is challenging the constitutionality of the Bureau’s funding structure.
Quote: May 23, 2023
“My job gives me a front-row seat to the workings of government. Every day, I hear from policymakers. Every day, I see the rules they roll out, and the ones coming down the pike. Frankly, what I’m witnessing is deeply concerning.”
–Mortgage Bankers Association President & CEO Bob Broeksmit, CMB.
Senators Introduce MBA-supported Bill to Reform Davis-Bacon Rules
Sens. John Thune, R-S.D., and Jerry Moran, R-Kan., on Friday reintroduced the Housing Supply Expansion Act, legislation that would address the affordable housing shortage by making targeted reforms to Davis-Bacon Act requirements.
MBA Chart of the Week May 19, 2023: % of IMBs with Pre-Tax Net Income
Today’s Chart of the Week compares the percentage of companies in the QPR that reported positive pre-tax net income including all lines of business (e.g. production and servicing operations), versus the percentage of companies that reported positive pre-tax net income, once servicing operations are excluded.