MBA Newslinks Archive

“The average loan size for purchase applications increased to a record high, led by a rise in the average size of conventional loans. This suggests that move-up and higher-end buyers have so far become a greater share of the spring market. Overall, conventional purchase loans are up 2.1 percent relative to last year, indicating that homebuyers continue to be inspired by the stable rate environment and the modest increase in housing supply.”–MBA Chief Economist Mike Fratantoni.

“The first-time homebuyer market once again outperformed the broader housing market, recording its best purchase year since 2006 and regaining its pre-housing crisis level. At the same time, first-time homebuyers are not immune to declining affordability, as their number declined nationally and in 35 states in Q4. First-time homebuyers responded to declining affordability by taking a wait-and-see approach and opportunistically looking for lower-priced properties.”–Genworth Chief Economist Tian Liu.

“A well-functioning housing finance system should provide consistent, affordable credit to borrowers across the nation and through all parts of the credit cycle without putting taxpayers at risk of a bailout.”–from an MBA-led coalition in a letter to acting Federal Housing Finance Agency Director Joseph Otting on the need for comprehensive secondary mortgage market reform.

“Disaster preparation and response has to be part of your company’s strategic planning. But the bigger picture is there needs to be more coordination across the industry and other players. We have to collaborate and share the knowledge in the event of an emergency.”–Gwen Muse-Evans, President and CEO of GME Enterprises, Chevy Chase, Md.

“For me and other CEOs focused on strategies for success in an evolving industry, we are open to change and persistently looking for ways to make your job easier and our customers happier.”–MBA Vice Chair Susan Stewart.

“Alignment of servicing standards across loans, investors and guarantors is desperately needed. It’s creating confusion for you and your customers, and increasing your costs.”–MBA President and CEO Bob Broeksmit, CMB.

“The shrinking size of sales declines, paired with falling interest rates, may be helping to improve builder confidence, which has been on the rise since December.”–Redfin Chief Economist Daryl Fairweather

“IMBs have always served the needs of a wide variety of consumers, particularly low- and moderate-income families and first-time homebuyers. Their historic and current contribution to the mortgage market reinforces their importance to making the American dream of homeownership a reality.”–MBA President and CEO Robert Broeksmit, CMB.

“January’s weak sales pace was likely the result of the lingering effects of stock market volatility and lower consumer confidence toward the end of 2018. Much of the January decrease was in the lower price tiers, which also tends to be where inventory is the tightest.”–MBA Associate Vice President of Surveys and Forecasts Joel Kan.

“Fintechs have helped make personal loans a credit product that is recognized as both a convenient and simple way to obtain funding online. More and more consumers see value in using a personal loan for their credit needs, whether to consolidate debt, finance a home improvement project or pay for an online purchase.”–Jason Laky, senior vice president and consumer lending line of business leader with TransUnion, Chicago.