MBA Newslink Thursday 1-18-18

“It would be the worst result to have 50 or more different approaches enacted across the country. And we believe that by using that Texas model to create our model legislation, legislators will have a degree of comfort to what the industry is suggesting in that our model will look very familiar if they’ve read the Texas bill.”–MBA Vice President of State Government Affairs and Industry Relations William Kooper, in a new MBA on Remote Online Notarization model legislation for states.

MBA Newslink Wednesday 1-17-18

“Through its rate hikes and unwinding its balance sheet, the Fed is pushing up short-term rates faster than markets are pushing up longer-term rates. Despite the increase in rates, applications increased both for purchase and refinance. These increases were partly due to an upswing following the holiday season lull and potentially more borrowers trying to refinance before mortgage rates increase further.”–MBA Associate Vice President of Economic Forecasting Joel Kan.

MBA Newslink Tuesday 1-16-18

“There were reports that some lenders are serially refinancing borrowers on a regular basis–two or three times a year, maybe even more. And every time that happens, typically more fees are added to the veteran’s principal balance and I think that’s not a good thing.”–MBA Chairman Dave Motley, CMB, discussing loan “churning” issues involving VA loans.

MBA Newslink Friday 1-12-18

“Although buying is still more affordable than renting in the majority of U.S. housing markets, that majority is shrinking as home price appreciation continues to outpace rental growth in most areas.”–Daren Blomquist, vice president with ATTOM Data Solutions, Irvine, Calif.

MBA Newslink Thursday 1-11-18

“It’s important to focus on options that target churning while not impeding the ability of service members and veterans to obtain a beneficial refinancing. We recognize that the VA program is a unique loan program–an entitlement program for veterans who have served our country. As such, while we support quick action to limit abuses, it needs to be done thoughtfully to ensure that legitimate low cost refinancing options for veterans are retained.”–MBA Chairman David Motley, CMB, in testimony yesterday before a House Veterans Affairs subcommittee.

MBA Newslink Wednesday 1-10-18

“Just because a market is smaller or more affordable doesn’t mean it isn’t dynamic. Growing cities in the Sun Belt, places like Raleigh, Charlotte and Nashville, offer plenty of opportunities healthcare and finance, while providing a less-expensive, but still-convenient, alternative to the larger and pricier markets in the Northeast.” –Zillow senior economist Aaron Terrazas.

MBA Newslink Tuesday 1-9-18

“In December a handful of investors made end of the year adjustments to their menu of offerings. This resulted in a net decrease in credit availability for government-backed programs [FHA/VA/USDA] and especially for lower credit score, higher loan-to-value loans, as well as streamline (requiring less documentation) refinances.”–MBA Vice President of Research & Economics Lynn Fisher.

MBA Newslink Monday 1-8-18

“HELOCs have been an attractive option for borrowers to utilize available equity without sacrificing low first- lien interest rates; with interest on these products no longer deductible, the value proposition has changed.”–Black Knight Data & Analytics Executive Vice President Ben Graboske.

MBA Newslink Friday 1-5-18

“Although the vacancy rate was flat for the quarter and the year, new tenants including grocery stores and gyms are taking space formerly occupied by bankrupt businesses such as Kmart. At the same time, some retail space is shutting down entirely or getting converted to other uses.”–Reis Senior Economist Barbara Byrne Denham.

MBA Newslink Thursday 1-4-18

“Mortgage bankers look to 2018 as another growth year for the commercial and multifamily mortgage markets. The majority of top firms expect a ‘very strong’ appetite from lenders and a ‘strong’ appetite from borrowers to drive commercial mortgage originations higher.”–MBA Vice President for Research and Economics Jamie Woodwell.