MBA Newslink Thursday 2-8-18

“As we work with policymakers to address the legislative and regulatory burdens that prevent us from providing the service we want to give, we should always keep our families in mind. We continue seeking clarity in the rules with written and reliable guidance all servicers can follow, and all consumers can understand.”–MBA Chairman Dave Motley, CMB, speaking yesterday at the MBA National Mortgage Servicing Conference & Expo.

MBA Newslink Wednesday 2-7-18

“There has been little change in refinance application volume over the last month or frankly over the last year. We seem to be at or close to a floor with respect to refinances.”–MBA Chief Economist Mike Fratantoni.

MBA Newslink Tuesday 2-6-18

“The inclusion of either title insurance or escrowed homeowners’ premiums has caused many loans, especially those for low- and moderate-income consumers, to fail the QM test in situations where the consumer elected to use one stop-shopping. As a result, many otherwise qualified borrowers could not avail themselves of in house services and/or may have received a higher interest rate.”–From an MBA/trade group letter urging support of a House bill that would provide consumers with greater choice in mortgage and settlement services.

MBA Newslink Monday 2-5-18

“Amid the ongoing U.S. political drama that is expected to continue in 2018, the stable income component with modest appreciation from commercial real estate provides an attractive choice in the uncertain future of alternative investments such as stocks and bonds.”–Situs RERC President Ken Riggs.

MBA Newslink Friday 2-2-18

“MBA is gratified the Court recognized that the CFPB violated the law when it tried to change longstanding RESPA rules through the enforcement process rather than by issuing a new rule or guidance. This decision notwithstanding, the Bureau still owes the industry clear and constructive guidance on its view of the permissibility under RESPA of arrangements like marketing services agreements. Greater regulatory clarity and consistency on this front will benefit consumers and lenders alike.”–MBA Chairman David Motley, CMB, on the ongoing PHH v. CFPB court case.

MBA Newslink Thursday 2-1-18

“The rapid increase in the longer-term rates over the past month, with 10-year Treasury rates up about 30 basis points during this period, suggests that investors are becoming more worried about the potential for a pickup in inflation, which could lead to a faster pace of rate hikes from the Fed.”–MBA Chief Economist Mike Fratantoni.

MBA Newslink Wednesday 1-31-18

“Home prices have risen about three times faster than inflation and twice as fast as income growth over the past year. Home prices are approaching prior peaks broadly, with eight of 20 markets already there. Rising home prices are fueling an affordability migration but there are fewer affordable markets left.”–Mark Vitner, senior economist with Wells Fargo Securities, Charlotte, N.C.

MBA Newslink Tuesday 1-30-18

“You can have a great culture and a lousy strategy and win; you can have a great strategy and a lousy culture and lose. Culture eats strategy for lunch. You have to have a high culture to win.”–Todd Duncan, founder and CEO of High Trust, Las Vegas.

MBA Newslink Monday 1-29-18

“The current world of CMBS is soon to be exclusively post-legacy. These better metrics may translate into more investor demand that supports a virtuous cycle of more competitive CMBS pricing. This may allow CMBS to steal market share from other sectors.”–Brian Olasov, Executive Director of Financial Services Consulting with Carlton Fields, New York.

MBA Newslink Friday 1-26-18

“People are not putting their homes up for sale, and there are an increasing number of consumers who want to buy homes. We are simply not meeting demand, and that is going to continue to drive up home prices.”–MBA Chief Economist Mike Fratantoni.