MBA Newslinks Archive

“We are thrilled to have Bob Broeksmit as the next leader of MBA. MBA has never been stronger, and we have full confidence that Bob is the right person to take MBA to even greater heights. He brings with him decades of industry knowledge and leadership experience at a time when our industry is facing great change and disruption.”–MBA Chairman David Motley, CMB.

“Mortgage banking companies are in the business of financing real estate, with a focus on financing real estate for borrowers in markets across the country–by connecting the real estate financing needs of local communities to global capital markets. As a type of mortgage banking company, independent mortgage banking companies tend to have a more regional business focus and are not affiliated with depository banking institutions.”–From an MBA letter to the Treasury Department and the Internal Revenue Service, asking for confirmation that mortgage banking companies are eligible for the deduction of qualified business income under new Section 199A of the Internal Revenue Code.

“MBA [has] become concerned in recent years with a lack of transparency in the FHFA approval process for new activities and new products…This process has made it far more difficult for policymakers, market participants and other stakeholders to understand whether certain offerings are serving the public interest. The lack of transparency also contributes to the concern that new activities or new products could at times be structured in ways that confer competitive advantages on certain market participants.”–From an MBA letter to the Federal Housing Finance Agency on how FHFA could improve its supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

“Ginnie Mae is engaging with issuers to implement a cure for pools that have been submitted with non-compliant loans. Ginnie Mae expects that the law will be effective in helping curb abuses that have been identified in connection with certain refinance programs utilized by veterans.”–From a Ginnie Mae statement on changes to its Real Estate Mortgage Investment Conduit program following mandated changes in recent regulatory relief legislation passed by Congress.

“While for the first time since 2014 first-time homebuyer demand is slightly easing, supply pressures will continue to drive price appreciation and freeze out a large percentage of the 2.7 million first-time homebuyers who are still missing from the market.”–Genworth Chief Economist Tian Liu.

“Given the BCFP’s significant and persistent influence on the housing finance industry, it is crucial for the Bureau to meaningfully and consistently engage industry stakeholders.”–MBA President and CEO David Stevens, CMB, in a letter to the Bureau of Consumer Financial Protection on its external engagement strategy.

“Rates slipped slightly over the week as concerns over U.S. trade policy and global growth sent some investors back to safer U.S. Treasuries. Minutes from the most recent Federal Open Market Committee meeting also yielded a more dovish tone, which added to the downward pressure in rates.”–MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.

“While industry predictions for this year’s storm season indicate average activity levels, associated storm surge risk remains an important consideration for residential and commercial properties in the 19 states analyzed. Depending on the location of a storm’s landfall and that area’s population density and reconstruction costs, lower Category storms can cause just as much damage as storms in higher categories.”–Tom Jeffery, senior hazard scientist with CoreLogic, Irvine, Calif.

“Women who cry in the workplace don’t cry because they’re upset. They cry because their pissed.”–Joanne Lipman, author of That’s What She Said: What Men Need To Know (and Women Need to Tell Them) About Working Together, at a recent MBA mPower event.

“MBA commends the Senate for confirming Brian Montgomery to lead the Federal Housing Administration. His experience, knowledge and ability will ensure his success in this position. MBA fully supports FHA’s efforts to assist low and moderate income Americans and first-time homebuyers. We look forward to working with Brian Montgomery and the FHA team, and continuing to work with Secretary Ben Carson, to ensure they succeed in their mission.”–MBA President and CEO David Stevens, CMB.