The Week Ahead—Mar. 1, 2021
Good morning! We’ve made it to March! That’s a good thing.
Another busy week is shaping up on Capitol Hill. President Joseph Biden Jr.’s nominee for Director of the Consumer Financial Protection Bureau, Rohit Chopra, appears (remotely) before the Senate Banking Committee this Tuesday, Mar. 2. Also appearing is Gary Gensler, Biden’s nominee for the Securities and Exchange Commission.
The real estate finance industry will be listening very carefully to Chopra’s testimony. Already the Biden Administration has signaled that it expects the CFPB to take a less-industry friendly approach to regulation and enforcement; Chopra is expected to set the tone at Tuesday’s hearing.
The hearing begins at 10:00 a.m. and can be accessed live here.
On Thursday, Mar. 4, the Banking Committee holds a remote hearing on Wall Street vs. Workers: How the Financial System Hurts Workers and Widens the Racial Wealth Gap. Slated to testify are Abbye Atkinson of the U.C. Berkeley Law School; and Darrick Hamilton of the Institute on Race and Political Economy.
The hearing begins at 10:15 a.m. ET and can be accessed live here.
The House Financial Services Committee has no hearings scheduled this week; however, Committee Chair Maxine Waters, D-Calif., announced the March schedule, and it’s a busy one, starting next week.
The Mortgage Bankers Association releases its weekly Forbearance and Call Volume Survey today (Mar. 1) at 4:00 p.m. ET.; On Wed. Mar. 3, MBA releases its Weekly Applications Survey. And it’s possible—but not yet confirmed—that MBA could release its monthly Mortgage Credit Availability Index this Thursday, Mar. 4, although it could wait until Tuesday, Mar. 9.
MBA Associate Vice President of Economic and Industry Forecasting Joel Kan keynotes the Northern Colorado Real Estate Summit Mar. 30-Apr.1. The event will be conducted virtually for the second year in a row due to the ongoing COVID-19 pandemic. It will feature three rounds of morning sessions, including the April 1 keynote by Kan, who will discuss the outlook for mortgage rates in 2021, along with data on sales, demographics, average loan sizes, housing prices and inventory. For more information, click https://events.bizwest.com/nocoresummit/.
Here are this week’s economic events/reports of interest:
Monday, Mar. 1: MBA Weekly Forbearance & Call Volume Survey; Construction; Institute for Supply Management Manufacturing Index
Tuesday, Mar. 2: CoreLogic Home Price Index
Wednesday, Mar. 3: MBA Weekly Applications Survey; ADP National Employment Report; Institute for Supply Management Non-Manufacturing Index
Thursday, Mar. 4: Initial Claims; Productivity & Costs; Manufacturing, Shipments & Orders
Friday, Mar. 5: Employment; International Trade
For information about upcoming MBA conferences, click here. 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 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/.
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, at msorohan@mba.org; or Michael Tucker, Editorial Manager, at mtucker@mba.org.
