MBA Newslinks Archive

“H.R. 2948 promotes a ‘fair and competitive labor market’ by eliminating barriers to the ability of non-bank lenders–especially small lenders–to compete for talented staff, and allowing MLOs to more easily move to the employer that offers them the best chance to succeed.”–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in an MBA letter to House Financial Services Committee leadership in support of legislation that would provide “transitional authority” to originate mortgages for individuals who move from a federally insured institution to a non-bank lender while they work to meet the SAFE Act’s licensing and testing requirements.
 

“The third quarter marks a significant turning point for the CMBS market. With only a few exceptions, since 2008, the balance of commercial and multifamily mortgages held in CMBS has declined each quarter. That years-long trend ended this quarter.”
–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“The ownership qualification period for exclusion of capital gains of a principal residence to five of the past eight years [from the current two of the past five years] would disproportionately penalize growing families and discourage labor mobility. We do not believe this is the public policy outcome intended.”–From an MBA/trade group letter asking senators to leave existing capial gains rules for sale of aprimary residence as is.

“One of the most significant features of the Dodd-Frank Act was the requirement that lenders, during the underwriting process, carefully demonstrate a mortgage borrower’s ability to repay their loan. And while the Qualified Mortgage standard that was developed by the Consumer Financial Protection Bureau was not meant to limit mortgage originations to only loans that meet this standard, the significant potential liability and litigation expenses for violations of the Ability to Repay rule have directed the vast majority of the market towards QM loans that provide safe harbor from potential litigation.”
–MBA Chairman-Elect Chris George, testifying yesterday before a House subcommittee on the need for regulatory relief for mortgage lenders and servicers.

“Make sure you have someone on your team who is tuned into diversity and inclusion and will hold you–and the company–accountable for decision-making. We can’t make better people, but we can help them make better decisions.”–Lissah Taylor Hundley, addressing the MBA Diversity & Inclusion Summit this week in Washington.

“The mortgage-related provisions of this bill provide important relief to the housing market by addressing key regulations including HMDA and the TILA/RESPA integrated disclosure. We are also glad that the bill amends the SAFE Act to provide increased job mobility for loan originators, and includes language addressing concerns with PACE lending. We now look forward to working with other policymakers as this legislation advances to the full Senate.”–MBA President and CEO David Stevens, after the Senate Banking Committee passed a sweeping regulatory relief bill yesterday.

“We believe the outcome would be enhanced consumer access to credit at lower costs.”
–From an MBA letter to Senate Banking Committee members in support of H.R. 2155, a regulatory relief bill scheduled for markup today.

“Because of the Rounds Amendment, this package will protect the ability of most Americans to obtain safe, decent shelter and affordable home mortgage credit without disruption. Had this language not been included, the change in tax accounting for MSRs would have had a devastating impact on the flow of capital that supports a robust and competitive real estate finance market, both single-and commercial/multifamily. We thank the Senate for its leadership on this issue.”
–MBA President and CEO David Stevens, CMB, in a statement following Senate passage of a tax reform bill in which MBA worked with senators to eliminate a provision that would have dramatically changed treatment of mortgage servicing rights.

“For those mortgage bankers holding mortgage servicing rights, lower MSR valuation losses helped overall profitability.”–MBA Vice President of Industry Analysis Marina Walsh, on the MBA 3rd Quarter Mortgage Performance Report.

“It is hard to imagine commercial and multifamily mortgages performing better than they are today. Strong property fundamentals and values and ready credit availability are all helping contribute to this extraordinary performance.”
–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.