The Week Ahead
Good morning! And welcome to another week of political uncertainty in what has certainly been the strangest year since…well, 2019.
As of this writing, negotiations on a new stimulus package among the Administration, Senate Republicans and House and Senate Democrats appear to be gridlocked; every hopeful comment about “progress” gets countered by partisan mudslinging and blame. Over the weekend President Trump said he would issue executive orders on economic stimulus, a move that was greeted with bipartisan skepticism.
Meanwhile, unemployment benefits for millions of Americans remain in limbo; the economy remains precarious (as evidenced by Friday’s employment report) and the coronavirus remains unchecked in many parts of the country. And while the housing and real estate finance markets remain strong, they can’t do it alone.
Amid these continuing negotiations, Congress continues its August recess and is not scheduled to officially return until after Labor Day—which marks the “official” start of the election year home stretch. Election Day, Nov. 3, is 84 days away. At stake: the Presidency; 34 Senate seats; and all 435 House seats. Strap in—it’s going to be a bumpy few months.
And oh, yeah—we’re about to hit the peak of the 2020 hurricane season. Anything else? Sharks with lasers attached to their heads?
The Mortgage Bankers Association releases its weekly Forbearance and Call Volume Report this afternoon at 4:00 p.m. ET. The past seven weeks have seen drops in the share of homeowners in forbearance programs. Look for a special edition of MBA NewsLink to provide the latest figures.
Also this morning, MBA releases its Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations (see story in today’s NewsLink). On Wednesday, Aug. 12, MBA releases its Weekly Applications Survey. Also this week, MBA releases its monthly Builder Applications Survey.
MBA fall conferences—including the MBA Annual Convention & Expo—will take place online out of an abundance of caution stemming from the coronavirus pandemic.
Below is a list of MBA fall events to be held online via its new digital platform, MBA LIVE. (Please note that in most cases, dates have changed from the original schedule):
MBA Risk Management, QA & Fraud Prevention Forum– September 15-16
MBA Annual Convention & Expo – October 19-21
MBA Regulatory Compliance Conference – November 4-5
MBA Commercial/Multifamily Servicing & Technology Conference – November 17-18
MBA Accounting and Financial Management Conference– December 2-3
Document Custody Workshop – TBD
Launched this spring, MBA LIVE brings you dynamic keynotes and informative panel discussions you’ve come to rely on from MBA. We’ll be adding even more opportunities to engage with speakers, industry colleagues, and the many vendors and service providers that help keep your business moving forward. Visit mba.org/MBALIVE for the latest information on these events.
For the latest on how the coronavirus is affecting our industry, our health and our economy, visit the MBA Coronavirus Resource Center. And you can also visit the newly created members-only online network, MBA’s COVID-19 Residential Policy Community, at https://bit.ly/2QEVpUZ. #MBAWorkingForYou #MBACOVIDUpdates
For the most up-to-date information regarding legislative activity at the state and local level, visit the MBA State Legislative Database at http://www.mortgagebankers.org/statelegislativedatabaselogin.htm.
For information about MBA Education events, visit http://www.mbaeducation.org.
For information about upcoming MBA conferences, visit http://www.mba.org/ConferencesEvents/Conferences.aspx.
If your company/association is an MBA member, we are happy to list conferences/events on the MBA NewsLink Upcoming Meetings/Events Calendar. Send your items to Mike Sorohan, editor, a firstname.lastname@example.org.
Monday, Aug. 10
–MBA Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations
–MBA Weekly Forbearance & Call Volume Survey
–MBA Education Webinar, California’s November Ballot Initiatives and their Impact on Real Estate Finance
–JOLTS (Job Openings & Labor Turnover Survey)
Tuesday, Aug. 11
(No events scheduled)
Wednesday, Aug. 12
–MBA Weekly Applications Survey
Thursday, Aug. 13
–MBA Monthly Builder Applications Survey (tentative)
–mPower Presents: Permission Granted to S.T.A.Y. #StartThinkingAboutYOU® Webinar
Friday, Aug. 14
–Advance Retail Sales
–Industrial Production/Capacity Utilization
–U. of Michigan Consumer Surveys (preliminary)