MBA Newslinks Archive

“Lisa is an integral part of MBA’s senior management team and well-deserving of this recognition. Her hard work, financial acumen, and strategic thinking have played a large role in her and MBA’s success.” –MBA President and CEO Robert D. Broeksmit, CMB, on MBA SVP Lisa Haynes being honored with the Association CFO of the Year Award by Association TRENDS.

“The current application of Davis-Bacon wage rates to HUD/FHA-financed projects creates substantial barriers to the development of affordable rental housing, for example, by inflating costs and adding unwarranted administrativecomplexity.”–From an MBA white paper addressing inefficiencies in the Davis-Bacon Act and offering recommendations to improve it.

“MBA congratulates Brian Montgomery on this well-deserved nomination. During his current tenure as FHA Commissioner and Acting Deputy Secretary, Brian has been integral in developing policies that improve opportunities for homebuyers and renters. With his expertise and knowledge of the housing industry, we are confident that Brian will do an excellent job serving alongside Secretary Carson and other members of the Administration.”–MBA President & CEO Robert Broeksmit, CMB, on the Administration’s nomination of Brian Montgomery as HUD Deputy Secretary.

“Credit availability increased slightly in September, driven by a 5 percent increase in the supply of jumbo loans. The jumbo index, which grew from a combination of lower credit score requirements, non-QM loans, and investor products, is now at a record high since tracking began in 2012. Meanwhile, the trend of tightening credit availability in conforming and government programs continued over the past few months, as both indices decreased.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

“Job growth was steady in September, but the drop in the unemployment rate and the upward revision of August’s data suggest that the labor market remains strong. This is in contrast to other data we have seen in the past week which suggest a sharp slowdown in U.S. growth. On net, this news should keep rates from falling further, as it casts doubt that the Fed will cut their rate target later this month. We still expect the Fed will drop rates one more time this year.”–MBA Chief Economist Mike Fratantoni.

“Instead of getting married or starting a family in their early to mid-twenties as was the norm in past decades, many are waiting until they are established in their careers. And the typical career trajectory has fundamentally changed since the 1960s as well–rather than climbing a corporate ladder, many are choosing to hop from one role or function to the next, often requiring a move to a new location.” –Sarah Mikhitarian, senior economist with Zillow, Seattle.

“We are seeing Millennial homeowners who may have purchased homes only a few years ago quickly taking advantage of the industry’s extremely low interest rates. We will also be watching to see if the increased purchase power from a lower rate environment enables some Millennials to make the leap into homeownership as we enter the fall home buying season.”–Joe Tyrrell, chief operating officer with Ellie Mae, Pleasanton, Calif.

“Although refinance activity slowed in September compared to August, the months together were the strongest since October 2016. The slight changes in rates are still causing large swings in refinance volume, and we expect this sensitivity to persist.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.