![](https://newslink.mba.org/wp-content/uploads/2021/10/Capitol-Building-Stock-image-400.jpg?w=390&h=260&crop=1)
MBA Advocacy Update June 6 2022
MBA sent a letter to the FDIC Friday on its climate risk management principles for financial institutions. On Tuesday, MBA and the Housing Policy Council responded to HUD’s proposed 40-year modification, which would increase the maximum allowable term for an FHA-insured loan modification from 360 months to 480 months. And recently, FHFA finalized two rules related to the Enterprise Regulatory Capital Framework for Mac the GSEs.
![](https://newslink.mba.org/wp-content/uploads/2022/06/UnemploymentJun2022400.jpg?w=390&h=260&crop=1)
Employers Add 390,000 May Jobs; Unemployment Rate Holds at 3.6%
Employers added nearly 400,000 jobs in May, largely meeting expectations, the Labor Department reported Friday. The unemployment rate held at 3.6 percent for the third straight month.
![](https://newslink.mba.org/wp-content/uploads/2022/06/COTW060322400.jpg?w=390&h=243&crop=1)
MBA Chart of Week June 3, 2022: MBA Purchase Applications Payment Index
In March, MBA released its inaugural monthly Purchase Applications Payment Index (PAPI) – an affordability index that measures how new fixed-rate 30-year purchase mortgage payments vary across time relative to income. The third PAPI release on May 26 – based on April MBA Weekly Applications Survey data – gives us a picture of how affordability has been affected by increasing interest rates and elevated loan application amounts in the first third of 2022.
![](https://newslink.mba.org/wp-content/uploads/2022/06/Fitch-CMBS-NOI-6-3-22.jpg?w=390&h=203&crop=1)
Fitch: CMBS Properties See NOI Recovery
Fitch Ratings, New York, reported property-level net operating income for commercial mortgage-backed securities loans rebounded 6.1 percent on average in 2021.
MISMO Issues Reporting Guide on Forbearance Data Exchange
MISMO®, the real estate finance industry standards organization, launched a new guide and sample credit response to help industry professionals using MISMO Reference Models v3.4 and v3.5 better report on loans that have been in or are in forbearance.