The Week Ahead—June 28, 2021
Good morning! We hope this article finds you safe, healthy—and cool.
Registration for the Mortgage Bankers Association’s Annual Convention & Expo, taking place Oct. 17-20 at the San Diego Convention Center, is officially open—and MBA makes a big splash today with announcement of two keynote speakers: New York Times best-selling author Malcolm Gladwell 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.
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.
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.
MBA releases its weekly Forbearance & Call Volume Survey this afternoon at 4:00 p.m. ET. The survey has shown drops in loans in forbearance for 16 consecutive weeks and last week showed loans in forbearance fell under 4 percent for the first time since spring 2020.
MBA also releases its Weekly Mortgage Applications Survey this Wednesday, June 24.
Other reports of interest this week: the Dallas Fed Manufacturing Survey (Monday); the S&P CoreLogic Case-Shiller Home Price Indices (Tuesday); Consumer Confidence (Tuesday) The ADP National Employment Report (Wednesday); the NAR Pending Home Sales Index (Wednesday) Initial Claims (Thursday); Construction (Thursday); the Institute for Supply Management Manufacturing Index (Thursday); the Employment situation (Friday); and Manufacturing, Shipments & Orders (Friday).
On Capitol Hill this week, pundits and analysts will watch to see how a tentative bipartisan agreement on a massive infrastructure does in Congress. Centrists appear to have the upper hand—for the moment. President Biden would like a deal before the Fourth of July recess; others in the House and Senate will likely say otherwise. Stay tuned.
The Senate Banking Committee holds no hearings this week. On the House side, House Financial Services Committee stays busy ahead of the recess.
On Tuesday, June 29, the full Committee holds a hearing on “A Biased, Broken System: Examining Proposals to Overhaul Credit Reporting to Achieve Equity.” The hearing begins at 10:00 a.m. ET and takes place in 2128 Rayburn House Office Building and online, where it can be accessed here.
Also on Tuesday, June 29, the Financial Services Subcommittee on Diversity and Inclusion holds a hearing on “The Legacy of George Floyd: An Examination of Financial Services Industry Commitments to Economic and Racial Justice.” The hybrid hearing begins at 2:00 p.m. ET in 2128 Rayburn and can be accessed online here.
On Wednesday, June 3, the Financial Services Subcommittee on Consumer Protection and Financial Institutions holds a hearing on “Addressing Climate as a Systemic Risk: The Need to Build Resilience within Our Banking and Financial System.” The hybrid hearing begins at 2:00 p.m. ET and can be accessed online here.
Offices of the Mortgage Bankers Association will be closed next Monday, July 5 in observance of the Independence Day holiday. MBA NewsLink will not publish. On behalf of MBA officers and staff, have a safe and happy holiday.
For information about 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/.