MBA Newslink Monday 9-18-17

“This policy alignment would allow literally thousands of pending home sales transactions get back on track, allowing loans to close on properties where there is no damage and expediting the repair process where necessary to restore the damage and complete the home sale.”–MBA President and CEO David Stevens, CMB, in a letter to HUD Secretary Ben Carson asking FHA to re-align its property re-inspection policies with that of other federal agencies.

MBA Newslink Friday 9-15-17

“Mortgage banking is a highly cyclical business, prone to expansion and contraction as market conditions change,” Rossi said. “Mortgage product innovation is healthy for the industry and consumer so long as product risks and process quality are well understood.”–Clifford Rossi, Executive in Resident and Professor with the Robert H. Smith School of Business at the University of Maryland and author of a new RIHA report, Managing Mortgage Product Development Risk.

MBA Newslink Thursday 9-14-17

“His previous experience will serve him well in this position. I hope the Senate will move quickly to confirm Brian and we look forward to working with him, Secretary Carson and others in the Administration to ensure a strong, robust FHA program.”–MBA President and CEO David Stevens, on the Trump Administration’s nomination of Brian Montgomery as FHA Commissioner.

MBA Newslink Wednesday 9-13-17

“The Consumer Financial Protection Bureau’s reluctance to issue clear guidance on the laws it inherited, such as the Real Estate Settlement Procedures Act, has resulted in a confused, uneven market that actually narrows consumers’ access to sustainable credit. Now is the time to look back at what has been learned over the past five years and make some key changes that will help consumers and the industry alike.”–MBA President and CEO David Stevens, CMB.

MBA Newslink Tuesday 9-12-17

“It is unclear what impact hurricanes Harvey and Irma will have on housing starts in the region in coming months, but it is likely that recent new home sales will be delayed in breaking ground.”–MBA Vice President of Research and Economics Lynn Fisher.

MBA Newslink Monday 9-11-17

“Mortgage credit availability increased slightly in August, driven by the expansion of credit among conforming and agency jumbo programs. Following the same pattern as last month, agency eligible adjustable-rate mortgage loan programs continued to be updated in August to allow for higher loan to value ratios, effectively increasing the availability of credit.”–MBA Vice President of Research and Economics Lynn Fisher.

MBA Newslink Friday 9-8-17

“Confidence in market fundamentals remains high among industry participants, largely due to strong demand fueled by lifestyle preferences and demographic changes…[but] it underscores the need for increased investment in the acquisition and preservation of affordable rental housing.” –Freddie Mac Multifamily Executive Vice President David Brickman, on a survey the found concerns about affordable multifamily housing strength.

MBA Newslink Thursday 9-7-17

“The most effective goals will be those that include both specific, quantitative outcomes based on loans made to distinct borrower/market segments and qualitative efforts, such as outreach, research and targeted initiatives. These differing types of goals should be pursued in tandem and should complement each other.”–MBA President and CEO David Stevens, CMB, in a letter to the Federal Housing Finance Agency on affordable housing goals for Fannie Mae and Freddie Mac.

MBA Newslink Wednesday 9-6-17

“Filling HUD’s Deputy Secretary position could not be more critical. Pam Patenaude’s leadership will be a great asset to the Department, and her knowledge will forward the mission of HUD. We urge you to support her confirmation and move it to the Floor for a vote.”–From a letter signed by MBA and nearly 60 trade groups urging the Senate to vote on Pam Patenaude’s nomination as HUD Deputy Secretary.

MBA Newslink Tuesday 9-5-17

“Purchase transactions, which are inherently more at risk of defects, fraud and misrepresentation, showed no increase compared to a month ago. One month doesn’t establish a trend, so it will be important to see if we’ve reached a turning point in the long-run trend of increasing defect risk.”–Mark Fleming, chief economist with First American Financial Corp., Santa Ana, Calif.