MBA Newslinks Archive

“Unfortunately, the slide in housing is the real deal. Virtually every leading indicator of housing demand has been trending lower for several months, including pending home sales, mortgage purchase applications and the proportion of consumers stating that now is a good time to buy a home.”–Mark Vitner, senior economist with Wells Fargo Securities, Charlotte, N.C.

“In our members’ experience, the Volcker Rule–in its current form–has not proven to be anefficient tool for achieving its intended policy objectives for a number of reasons.”–From an MBA/trade group letter to federal agencies recommending changes to the Volcker Rule that would alleviate unnecessary costs and burdens on businesses.

“The problems of unconscious gender bias go deeper than any of us can imagine. We are enculturing–generation after generation–the lack of representation of women in virtually every profession because of the message we are sending: that women and girls are far less valued than men and boys.”–Actor Geena Davis, during the mPower luncheon at the MBA Annual Convention & Expo.

“While the macroeconomic and housing market backdrops are, and should remain quite favorable, the mortgage industry continues to be challenged by the drop in origination volume, coupled with significant margin compression. Lenders of all types and sizes are seeing elevated costs, coupled with intensely competitive pricing, to capture more volume. This in turn is depressing revenues.”–MBA Chief Economist Mike Fratantoni.

“If you’re breaking the law, we’re going to come after you. If you’re doing something we don’t like, but it’s within the law, then we’re going to leave you alone….regulation by enforcement is done.”–Bureau of Consumer Financial Protection Director Mick Mulvaney, speaking at the MBA Annual Convention & Expo.

“We thought Barack Obama was brilliant for harnessing the power of Facebook–and then Donald Trump harnessed the power of Twitter.”–John Harris, Co-Founder and Editor-in-Chief of Politico.

“We believe that the best course of action is for USDA to remove the existing interest rate cap and instead allow market forces to dictate interest rates and other pricing terms. Should USDA find evidence of higher financing costs following implementation of this recommendation, MBA would support further efforts to develop a regulatory response that protects the interests of consumers.”–MBA Senior Vice President of Public Policy and Industry Relations Stephen O’Connor, in an MBA letter to USDA recommending the interest rate cap on RHS Section 502 Single-Family Housing Guaranteed Loan Program loans be eliminated.

“No matter who sits in [Congress], housing is not a partisan issue. MBA is leading the way in fostering this bipartisan cooperation. Our job–MBA and our members–is to connect with and educate all regulators and legislators, regardless of party, to get the job done and ensure a vibrant real estate market.”–MBA President and CEO Robert Broeksmit, CMB.

“We urge the subcommittee to create asecure, fully integrated and cost-effective B2G solution that can operate in our dynamic economy and protect against evolving threats. Our member institutions support a streamlined process that promotes efficiency while minimizing the burden on participants.”–From an MBA/trade group letter asking a House subcommittee to support measures to improve IRS security protocols.

“Last month’s 8.2 percent annualized gain in purchase applications points to continued demand for new homes. Housing demand is still strong even as mortgage rates increase, and as a result, we’re still forecasting for modest growth in purchase origination volume in 2018.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.