MBA Newslinks Archive

“The second quarter results point to resilience from the household sector, despite signs of slowing growth in other parts of the economy and elsewhere in the world, and continues to be supported by job growth and low unemployment. We expect that this will also support moderate growth in the home purchase market in the coming months, especially for first-time home buyers and younger home buyers entering prime home ownership ages.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

“The national mortgage market readjusting away from the Patch can facilitate a more transparent, level playing field that ultimately benefits consumers through stronger consumer protection.”–Consumer Financial Protection Bureau Director Kathleen Kraninger.

“Increasing diversity and inclusion in our industry isn’t just the right thing to do, it is imperative to the future of a safe and robust housing system. The demographics of the country are changing, and MBA’s member companies are committed to changing with it to ensure that they can effectively serve all their customers and the market at large.”–Lisa Haynes, MBA Senior Vice President, CFO and Chief Diversity Office, on a partnership with Fannie Mae to promote opportunities for entry-level professionals.

“Refinance activity was lower, but we did see government refinance applications increase, driven solely by a 12 percent rise in FHA applications. Mortgage rates right now are comparable to the average rate of 4.10 percent for June, but refinances last week were 7 percent lower than last month. This is an indication that as we see rates lower for longer, borrowers need more of a drop in rates to consider refinancing.”–MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.

“Today’s announcement is not the end of our efforts to make sure consumers’ sensitive personal information is safe and secure. The incident at Equifax underscores the evolving cyber security threats confronting both private and government computer systems and actions they must take to shield the personal information of consumers. Too much is at stake for the financial security of the American people to make these protections anything less than a top priority.”–Consumer Financial Protection Bureau Director Kathy Kraninger.

“Record prices appear to have kept June sales figures from topping a strong May. Nevertheless, there are indications, including the return of very favorable mortgage rates, that the pace could pick up in July. Several encouraging longer-term trends-ongoing demand, improving inventory levels, low interest rates–are helping the market make incremental progress on multiple fronts. But supply remains a concern, so we need more homes to be built.”–Adam Contos, CEO of RE/MAX, Denver.

“Declining home sales and homebuilding activity, coupled with slower gains in permitting for improvement projects, will put the brakes on remodeling growth over the coming year. However, if falling mortgage interest rates continue to incentivize home sales, refinancing, and ultimately remodeling activity, the slowdown may soften some.”–Chris Herbert, Managing Director of the Joint Center for Housing Studies at Harvard University.

“The second quarter of every year has always shown a quarterly increase, going as far back as 2005. So, with mortgage rates dipping to new lows, it’s no surprise that people were wanting to buy a home, even if prices were at their peak. We expect to see milder home prices in the coming quarters.”–Todd Teta, chief product officer with ATTOM Data Solutions, Irvine, Calif.

“Kristy is an active MBA member and industry leader who will serve MBA and its members exceptionally well. She is results-driven and brings a unique perspective, vision and leadership skill set. I’m excited to have her on our leadership ladder.”–MBA Chairman Christopher M. George, President and CEO of CMG Financial, San Ramon, Calif., on MBA’s nomination of Kristy Fercho of Flagstar Bank, Troy, Mich., as 2020 MBA Vice Chair.

“Over the past decade, the regulatory change experienced by the mortgage lending industry has been “massive in both its breadth and complexity. “This has not occurred in isolation, but rather transpired during a time of equally rapid technological change. Together, these developments have had a significant economic impact on mortgage lenders and servicers. Consequently, it is now necessary for the Bureau to assess whether its rulemaking activities have achieved their statutory objectives in a way that does not unnecessarily burden regulated entities or unduly restrict consumer access to safe and affordable mortgage credit.”–MBA Senior Vice President of Residential Policy and Member Engagement Pete Mills, in a letter to the Consumer Financial Protection Bureau.