MBA Newslinks Archive

“I know there is talk about reducing the GSEs’ footprint, but reducing the QM patch is not the way to do it. I’m not convinced that there is enough private capital out there to supplement what we do in the marketplace.” –Dave Lowman, Executive Vice President of Single-Family Business with Freddie Mac.

“The job market remains exceptionally strong. Although the partial government shutdown may have temporarily increased the unemployment rate, this pace of job creation will continue to support higher wages, which will in turn support strong housing demand.”–MBA Chief Economist Mike Fratantoni.

“Effective FHLB housing goals would…promote increased investment by member institutions in affordable housing, while not introducing any features that could jeopardize FHLB safety and soundness.”–MBA Senior Vice President of Public Policy and Industry Relations Stephen O’Connor, in a letter to the Federal Housing Finance Agency on Federal Home Loan Bank housing goals.

“MBA welcomes the release of Chairman [Mike] Crapo’s principles for housing finance reform as a significant sign of his continued commitment to work toward finally ending the conservatorships of Fannie Mae and Freddie Mac and ensuring a stable and liquid market–with an explicit, paid-for government guarantee–for both single-family and multifamily mortgages. MBA looks forward to continuing to engage on a bipartisan basis with congressional leaders, the administration and other key stakeholders on reform efforts to create a system that supports borrowers, serves lenders of all sizes and business models and protects taxpayers.”–MBA President and CEO Robert Broeksmit, CMB.

“The biggest threat to the forecast is the possibility of a recession, which an increasing possibility by 2020. However, employment remains strong and the housing market is showing increasing signs of affordability, which is a good sign. Unemployment is at near-50-year lows and wage growth is picking up. That’s going to bring more potential home buyers in to the market.”–MBA Chief Economist Mike Fratantoni.

“The fact is that without independent and non-depository companies stepping up in the years after the Great Recession–as some big banks and other lenders pulled back–credit would have been tight and home sales and prices would have recovered at a snail’s pace. Additionally, think of the many first-time buyers, military members and veterans, low- and moderate-income borrowers, and minority households that would still find themselves locked out of homeownership.”–MBA President and CEO Bob Broeksmit, CMB.

“Nearly two-thirds of Baby Boomer respondents said home values are going up in their area. With home prices generally healthy across the country, two-thirds of these homeowners are turning to financing options like home equity lines of credit or cash-out refinances to complete their upgrades. On average, homeowners are financing about $18,000 per household with more than half saying they intend to start remodeling within a year.”–Amy Bonitatibus, Chief Marketing Officer for Chase Home Lending.

“To date, we have not seen a comprehensive statement from the White House and Treasury Department under the Trump Administration providing their views on regulation of the housing finance system. Additionally, your comments call into question the independence of the FHFA under your leadership.”–House Financial Services Committee Chairwoman Maxine Waters, D-Calif., and Senate Banking Committee Ranking Member Sherrod Brown, D-Ohio, in a letter to Acting Federal Housing Finance Agency Director Joseph Otting requesting details of an Administration plan to remove Fannie Mae and Freddie Mac from federal conservatorship.

“With total gifts from the MBA Board topping $1.13 million in 2018, more than 800 families across the country will be helped by our 38-member board. I could not be more proud of their commitment to this very important cause.”–MBA President and CEO Robert D. Broeksmit, CMB, and member of the MBA Opens Doors Foundation Board of Directors.

“Our ongoing efforts on LIBOR transition involve active engagement with interested members, including commercial real estate finance firms and other market participants. Although the expected LIBOR transition is still a few years away, it’s important that market participants begin considering the items presented in the primer. We are grateful to the members on MBA’s Commercial/Multifamily LIBOR Outreach Committee as the industry prepares for what’s next.”–Thomas Kim, MBA Senior Vice President of Commercial Real Estate Finance, on an MBA Primer on LIBOR released yesterday.