MBA Newslinks Archive

“Robotics, artificial intelligence, machine learning and all sorts of terms that had no relevance just a few years ago are driving business into new territories. Technology increases a company’s productivity and profitability by transforming how we interact and where we work.”–MBA Chairman-Elect Brian Stoffers, CMB.

“The national mortgage delinquency rate in the first quarter of 2019 was down on a year-over-year basis, which is another sign of a very strong economic environment, bolstered by low unemployment and rising wage growth. Moreover, the serious delinquency rate–the percentage of loans that are 90 days or more past due or in the process of foreclosure–dropped across all loan types from the previous quarter and a year ago to its lowest overall level since the second quarter of 2006.”–Marina Walsh, MBA Vice President of Industry Analysis.

“The new LDM provides a technology-agnostic view of the MISMO standards. Technology changes rapidly, as evidenced by our industry’s evolution towards supporting mobile applications to serve consumers. The new LDM ensures that MISMO will continue to help organizations communicate more efficiently, as new technologies are introduced and evolve.”–Richard Hill, Executive Vice President of MISMO and Vice President of Industry Technology with MBA, on a new MISMO logical data model.

“While a few investors have charged forward into the [Opportunity Zone] space, most have eagerly awaited the more complete guidance needed to invest before the close of 2019 in order to secure the maximum tax benefits from the program. This clarifying guidance should remove many of the barriers that have kept large pools of capital on the sidelines.”–JLL Senior Vice President Jonathan Paine.

“It has become clear that our lending partners are seeking clarity and greater certainty when documenting compliance with FHA requirements. We are proposing a new, more transparent set of requirements that will preserve our enforcement authority. We anticipate that this will encourage more lender participation in FHA business, thus increasing competition in the market and resulting in greater choices for borrowers.”–Acting Deputy Secretary and FHA Commissioner Brian Montgomery, announcing new lender certification requirements for FHA.

“Investors continued a trend from March of further increasing their willingness to purchase more non-QM and non-agency jumbo loans. The high-end of the purchase market had shown weakness earlier this year, before the recent decline in mortgage rates, and it appears investors are trying to remain competitive in that segment of the market.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

“We saw a good week for the spring home buying season, as a 5 percent increase in purchase applications–both weekly and year-over-year–drove the results.”–MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.

“Retention battles are no longer won–or lost–based on interest rates alone. A simple ‘in the money analysis’ doesn’t provide the insight necessary to retain customers and can’t take the place of accurately identifying borrowers who are likely to refinance and offering them the correct product. Rather, understanding equity position–and the willingness to utilize that equity–is key to accurately identifying attrition risk and reaching out to retain that business.”–Black Knight Data & Analytics Division President Ben Graboske.

“Once again, job growth was stronger than expected in April, and even with a weaker showing in February, there have been almost 170,000 jobs per month added over the past three months. With hiring so strong, the unemployment rate has fallen to its lowest level since 1969, and wages continue to grow at a strong pace. With mortgage rates still low, more households may consider buying a home, which is great news for the housing market and overall economy,”–MBA Chief Economist Mike Fratantoni.

“Today’s proposed changes would provide much needed relief to smaller community banks and credit unions while still providing federal regulators and other stakeholders with the information we need under the Home Mortgage Disclosure Act.” –CFPB Director Kathleen L. Kraninger, on proposed rulemakings to change reporting requirements under the Home Mortgage Disclosure Act.