MBA Newslinks Archive

“Borrowing and lending associated with commercial and multifamily real estate increased again in the third quarter, even as sales transaction volume slowed. Most property types and capital sources saw stronger lending activity than a year earlier, supported by solid property fundamentals and continued property value appreciation.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“Commercial and multifamily real estate finance is a nearly $4 trillion industry and touches almost every segment of the economy. Acquisition, Development or Construction loans in particular, which this legislation supports, help to promote economic growth and job creation.”–MBA President and CEO David Stevens, CMB, on House passage of H.R. 2148.

“Although H.R. 1 would provide both owners and renters with more take-home pay by lowering overall tax rates and nearly doubling the standard deduction, we believe the cumulative impact of the changes to the mortgage interest deduction and property tax deductibility would erode homeownership incentives for too many Americans.”–MBA President and CEO David Stevens, CMB, in a letter to the House Ways and Means Committee on tax reform legislation.

“This actually expedites the reinspection process rather than waiting on FEMA. MBA reached out for HUD/FHA in the wake of Harvey and Irma after it became apparent that FEMA’s extended incident period designations were delaying the ability to close loans that were in process prior to disasters, but that had little or damage.”–MBA Senior Vice President of Residential Policy and Member Engagement Pete Mills, on a new disaster waiver granted by FHA for California counties impacted by recent wildfires.

“Only Congress can alter the existing GSE charters, establish an explicit federal government guarantee and create a regulatory mandate to maintain a level playing field. We cannot go back to a housing finance system that provides private gains when markets are strong yet relies on support from taxpayers when losses occur.”–MBA President and CEO David Stevens, CMB, in testimony yesterday before a House subcommittee on housing reform.

“There was no drama surrounding this meeting of the FOMC. The market is anticipating the next rate hike in December, and the Fed clearly signaled they agree with that expectation. The FOMC statement highlighted a ‘solid rate’ of economic growth despite the impact from the hurricanes.”–MBA Chief Economist Michael Fratantoni.

“Since hitting a 2017 low of 4.03 percent in September, the 30-year rate has increased almost 20 basis points and refinance activity has declined over 20 percent over the same period. Applications for home purchase loans decreased slightly last week but remain almost 10 percent higher than the same week a year ago.”–MBA Associate Vice President of Research and Economics Joel Kan.

“MBA has long recognized the importance of this ‘bright line’ between the primary and secondary markets, and its continued application is particularly crucial given the rapid development and deployment of new mortgage-related technologies.” –MBA President and CEO David Stevens, CMB, in a letter to the Federal Housing Finance Agency.

“Zombie foreclosures have dwindled dramatically over the last four years as a supply-starved housing has soaked up even some of the most highly distressed properties. There are still pockets of the country with high zombie foreclosure rates, and high vacant property rates in general, primarily in the Rust Belt and parts of the Northeast and Southeast–driven in large part by a high share of non-owner occupied vacant properties in those areas.”–Daren Blomquist, senior vice president with ATTOM Data Solutions, Irvine, Calif.

“In a matter of just a few years, we found that a large number of units previously affordable to very-low income families could no longer be considered affordable. This is a trend that is worsening.”–Freddie Mac Multifamily Vice President of Research and Modeling Steve Guggenmos.