The Week Ahead, June 21, 2022: MBA Spring Meetings Conclude; Mr. Powell Goes to Capitol Hill; and 3 Other Things to Know
Good morning and happy Tuesday! We hope you had a safe and happy Juneteenth holiday. Now, let’s talk about what’s happening this week:
First, MBA Single-Family Research & Economics Showcase. The MBA Single-Family Research & Economics Showcase takes place June 22-23 online. This is the last of what was a very busy return to live spring meetings. For more information, click here.
And of course, it’s not too early to start thinking about the MBA Annual Convention & Expo, taking place Oct. 23-26 in Nashville. Registration is now open; for more information, click Annual Convention and Expo | MBA.
Second, MBA Reports. MBA releases its monthly Loan Monitoring Survey this afternoon at 4:00 p.m. ET. Last month, the Survey reported loans in forbearance fell under 1 percent for the first time since onset of the coronavirus pandemic. MBA will provide coverage in the Wednesday, June 22 issue, with commentary and analysis from MBA Vice President of Industry Analysis Marina Walsh, CMB.
MBA also releases its Weekly Applications Survey this Wednesday, June 22, with commentary and analysis from MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.
Third, Other Economic Reports. Here are this week’s other economic reports; those that MBA NewsLink will cover are in italics:
Tuesday: MBA Loan Monitoring Survey; Existing Home Sales; Chicago Fed National Activity Index; Philadelphia Fed Non-Manufacturing Survey
Wednesday: MBA Weekly Applications Survey;
Thursday: Initial Claims
Friday: New Residential Sales; University of Michigan Consumer Survey (final)
Fourth, Congress. Fresh off of presiding over a 75-basis-point hike in the federal funds rate—the biggest single increase since 1994—Federal Reserve Chair Jerome Powell makes the rounds of Capitol Hill this week to deliver his Semi-Annual Monetary Policy Report to Congress.
Powell appears before the Senate Banking Committee this Wednesday, June 22 at 9:30 a.m. ET in Dirksen Senate Office Building room 538. The hearing can be accessed online here.
The next day, Thursday, June 23, Powell visits the House Financial Services Committee. The hearing begins at 10:00 a.m. ET in 2128 Rayburn House Office Building and can be accessed online here.
Also this week, the Senate Banking Committee holds a hearing on Thursday, June 23 on Reauthorization of the National Flood Insurance Program: Administration Perspectives. Slated to testify: David I. Maurstad, Acting Associate Administrator for Resilience with the Federal Emergency Management Agency. The hearing begins at 10:00 a.m. ET in 538 Dirksen and can be accessed online here.
Also this week, the House Financial Services Committee continues its markups of various pieces of legislation; for more information, click here.
The House Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies holds a markup of the Fiscal Year 2023 Transportation, Housing and Urban Development and Related Agencies Subcommittee Appropriations Bill, commonly known as T-HUD, this Thursday, June 23 beginning at 4:00 p.m. in 2359 Rayburn. For more information, click here.
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, Upcoming MBA Conferences. Here is a list of upcoming MBA conferences:
June 22-23: MBA Single-Family Research & Economics Showcase, Online
September 8-9: MBA Human Resources Symposium 2022, Hilton Arlington, Va.
Sept. 11-13: MBA Risk Management, QA and Fraud Prevention Forum, Grand Hyatt Nashville
Sept.15-17: NAMMBA Connect 2022, Orlando, Fla.
Sept. 18-20: MBA Regulatory Compliance Conference, Grand Hyatt Washington, D.C.
Oct. 22: mPowering You: MBA’s Summit for Women in Real Estate Finance, Music City Center Nashville
Oct. 23-26: MBA Annual Convention and Expo, Music City Center Nashville
Nov. 8-10: MBA Accounting and Financial Management Conference, JW Marriott Phoenix Desert Ridge Resort & Spa Phoenix
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!