The Week Ahead Aug. 30, 2021: Four Things to Watch
Good morning! And welcome to “Transition Week” here in Washington, where high school football is starting, leaves are beginning to fall and we’re putting away our summer clothes and bringing our pumpkin spice coffee cups out of storage.
On that transitional note: Offices of the Mortgage Bankers Association will be closed on Monday, Sept .6 in observance of the Labor Day holiday—the “unofficial” start of autumn. MBA NewsLink will not publish that day. On behalf of MBA officers and staff, have a safe and happy holiday.
Nonetheless itt’s another busy week in Washington. Here are some topics we’re keeping an eye on:
First, Congress. The House comes back for a few days this week to hold floor votes. The Senate remains in recess until Sept. 9.
Second, the Mortgage Bankers Association kicks off another busy week of housing reports. The MBA weekly Forbearance & Call Volume Survey comes out this afternoon at 4:00 p.m. ET. The survey has shown drops in loans in forbearance for 25 consecutive weeks. MBA Chief Economist Mike Fratantoni will provide analysis and commentary in Tuesday’s MBA NewsLink.
MBA also releases its Weekly Mortgage Applications Survey this Wednesday, Sept. 1, with commentary and analysis from MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.
Third, Economic Reports. The last of the monthly housing reports come in this week as the focus shifts away from housing and toward the employment picture.
This morning, the National Association of Realtors releases its monthly pending home sales index. On Tuesday, the S&P CoreLogic Case-Shiller Home Price Indices comes out. Then on Wednesday, the first of three employment reports come out when ADP releases its monthly National Employment Report. On Thursday, the Labor Department releases its weekly Initial Claims report (last week’s report showed an unexpected increase in claims); and on Friday, the Bureau of Labor Statistics releases its monthly Employment Situation report. MBA Chief Economist Mike Fratantoni will provide commentary and analysis in NewsLink.
Other reports of interest this week: the Dallas Fed Manufacturing Survey (Monday); The Conference Board’s Consumer Confidence Index (Tuesday); Construction (Wednesday); the Institute for Supply Management Manufacturing Index (Wednesday); Productivity and Costs (Thursday); Manufacturing, Shipments and Orders (Thursday); and the Institue for Supply Management Non-Manufacturing Index (Friday).
Fourth, the upcoming MBA Annual Convention & Expo, which takes place Oct. 17-20 at the San Diego Convention Center. Keynote speakers include New York Times best-selling authors Malcolm Gladwell and Brad Meltzer; and Academy Award- and Presidential Medal of Freedom Award-winning actress Rita Moreno.
Gladwell, whose newest book, The Bomber Mafia: A Dream, a Temptation, and the Longest Night of the Second World War, was inspired by the four-part series about General Curtis LeMay on his podcast “Revisionist History.” In it, Gladwell weaves together the stories of a Dutch genius and his homemade computer, a band of brothers in central Alabama, a British psychopath and pyromaniacal chemists at Harvard to examine one of the greatest moral challenges in modern American history. Gladwell will discuss his book with MBA Chair-Elect Kristy Fercho on Tuesday, Oct. 19.
Meltzer uses his trademark storytelling to emphasize the importance of knowing what really matters in your life. While saving the house where Superman was created, Meltzer started a quest to find out what his legacy might be. His funny, inspiring, and entertaining story will never let you look at your own life the same way again. Weaving together the historical stories of Abraham Lincoln, Amelia Earhart and even Superman, Meltzer helps you reevaluate what’s truly important: family, friends and those whole lives you touch by making an impact in your workplace. Meltzer will speak on Monday, Oct. 18.
Moreno is among just a handful of entertainers who have completed the “EGOT:” winning an Emmy (twice), a Grammy, an Oscar (for West Side Story) and a Tony Award. Her countless credits span more than seven decades, beginning with her Broadway debut at age 13. She has starred on Broadway and London’s West End, appeared in more than 40 feature films and countless television shows. And like Gladwell, she is a New York Times best-selling author with her first book, Rita Moreno: A Memoir, published by Celebra Books. She received the Presidential Medal of Freedom by President George W. Bush and the National Medal of Arts by President Barack Obama. Moreno will keynote the mPower Luncheon on Tuesday, Oct. 19.
Other Convention speakers include Teresa Bryce Bazemore, President & CEO of the Federal Home Loan Bank of San Francisco; Sandra Thompson, Acting Director of the Federal Housing Finance Agency; Fannie Mae CEO Michael DeVito; Freddie Mac CEO Hugh Frater; MBA President & CEO Robert Broeksmit, CMB; outgoing MBA Chairman Susan Stewart; incoming MBA Chair Kristy Fercho; MBA COO and mPower Founder Marcia Davies; MBA Chief Economist Mike Fratantoni; MBA Vice President of Industry Analysis Marina Walsh, CMB; and MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.
The MBA Annual Convention & Expo is largest annual gathering of real estate finance professionals, this is the one event you need to gain access to the industry’s power players and innovators.
Be inspired and get informed by engaging speakers on the Main Stage; meet with hundreds of exhibitors in THE HUB and get hands-on access to the latest products and services; dive deep into Breakout Sessions to get the insight you need on all the facets of the business; connect with industry peers through unparalleled networking opportunities; Leave with actionable takeaways for future success.
For more information and to register for MBA ANNUAL 21, click here.
For information about other upcoming MBA conferences, click here.
For the most up-to-date information regarding legislative activity at the state and local level, visit the MBA State Legislative Database here.
For information about MBA Education events, visit http://www.mbaeducation.org.
For information about the National Association of Minority Mortgage Bankers of America (NAMMBA), visit https://www.nammba.org/.
Enjoy the week!
