The Week Ahead Dec. 20, 2021: Five Things to Know
Good morning! And welcome, for all practical purposes, to the final full business week of 2021. Here are five things to look for this week:
First, the Holiday Schedule. Offices of the Mortgage Bankers Association will close at 5:00 p.m. ET on Thursday, Dec. 23 and will reopen at 8:00 a.m. ET on Monday, Jan. 3, 2022.
MBA NewsLink will publish its last issue of the year on Friday, Dec. 24. MBA NewsLink will not publish the week of Dec. 27-31; nor will MBA Servicing NewsLink (Tuesday, Dec. 28) and MBA Commercial/Multifamily NewsLink (Thursday, Dec. 30). MBA NewsLink will return on Monday, Jan. 3; MBA Servicing NewsLink on Tuesday, Jan. 4; and MBA Commercial/Multifamily NewsLink on Thursday, Jan. 6.
On behalf of MBA officers and staff, have safe, happy and healthy holiday season.
Second, a New MBA Report. This (Monday) afternoon, the Mortgage Bankers Association debuts a report: the MBA Monthly Loan Monitoring Survey. This survey replaces the former weekly MBA Forbearance and Call Volume Survey and provides a snapshot of forbearance and performance data; today’s report, which will be released at 4:00 p.m. ET, covers data from Nov. 1-30 and will include analysis and commentary from MBA Chief Economist Mike Fratantoni.
Third, Housing & Economic Reports. The monthly parade of housing reports gets a bit condensed over the next couple of weeks in anticipation of the quieter period between Christmas and New Year’s.
The Mortgage Bankers Association releases its Weekly Mortgage Applications Survey on Wednesday, Dec. 22, featuring commentary and analysis from MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.
Other reports this week (those marked in bold indicate reports of which MBA NewsLink will provide coverage):
Tuesday: Philadelphia Fed Non-Manufacturing Survey
Wednesday: Chicago Fed National Activity Index; Gross Domestic Product 3rd Release; Existing Home Sales; Consumer Confidence
Thursday: Advance Durable Goods; Initial Claims; Personal Income/PCE Deflator
Friday: New Residential Sales
Fourth, Congress. President Joe Biden’s Build Back Better legislative package has been punted into 2022. The Grinch continues to be Sen. Joe “The Immovable Object” Manchin, D-W.Va., who continues to refuse to budge on key elements of the bill. Democrats are not happy with Manchin (Republicans, on the other hand, are delighted); and Democrats are increasingly worried that the legislative roadblocks of 2021 could spell trouble in the 2022 elections.
Neither the Senate Banking Committee nor the House Financial Services Committee hold hearings this week; and both the House and Senate are expected to adjourn this week.
For more information about the House and Senate, visit www.house.gov and www.senate.gov, respectively. For more information about upcoming hearings in the Senate Banking Committee, click https://www.banking.senate.gov/hearings. For more information about upcoming hearings in the House Financial Services Committee, click https://financialservices.house.gov/calendar/?EventTypeID=577&Congress=117.
Fifth, MBA Conferences. Here is a list of upcoming MBA Conferences:
· Jan 10 – 13, 2022— MISMO Winter Summit 2022
Hyatt Regency Clearwater, Fla. Beach Resort and Spa
· Jan 10 – 13, 2022— MISMO Winter Summit 2022 – Monday Livestream and Virtual Access to Workgroup Meetings
· Jan 24 – 27, 2022— Independent Mortgage Bankers Conference
Grand Hyatt Nashville
· Feb 13 – 16, 2022— Commercial/Multifamily Finance Convention and Expo
Manchester Grand Hyatt, San Diego
· Feb 22 – 25, 2022— Servicing Solutions Conference and Expo
Hyatt Regency Orlando
· Mar 6 – 9, 2022— Mid-Winter Housing Finance Conference 2022
Ritz-Carlton, Bachelor Gulch, Avon, Colo.
· Apr 11 – 14, 2022— Technology Solutions Conference and Expo 2022
The Bellagio Las Vegas
· Apr 25 – 26, 2022— State and Local Workshop 2022
Renaissance Washington, D.C.
· Apr 26 – 27, 2022— National Advocacy Conference 2022
Renaissance Washington, D.C.
· May 15 – 18, 2022— Secondary and Capital Markets Conference and Expo 2022
Marriott Marquis New York
· May 15 – 18, 2022— Commercial/Multifamily Housing Servicing and Technology Conference
JW Marriott Los Angeles L.A. LIVE
· May 22 – 25, 2022— Legal Issues and Regulatory Compliance Conference 2022
Intercontinental Miami
For more information, click the links above or visit https://www.mba.org/conferences-and-education/conferences-and-meetings.
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! And have a safe and happy holiday season.
