MBA Newslinks Archive

“While ongoing supply constraints are reinforcing the floor on home prices right now, the experts’ forecasts still imply the joists will start to crack sometime next year, and result in sub-3 percent annual home-value appreciation in 2020 and beyond. For the first time, a majority of the experts said that there is downside risk to their long-term outlook for home values nationally.” –Pulsenomics Founder Terry Loebs.

“Although the mortgage process is extremely complex and heavily regulated, digital experiences in other businesses have increased the demand for digital resources to speed up the onerous mortgage process.”–Henry Cason, Fannie Mae Senior Vice President of Digital Products.

“After an exceptionally weak start to the year, production profitability improved in the second quarter as volume picked up from the spring home buying season. Mortgage originators evidently responded to first quarter losses by reducing their expenses in the second quarter, as production expenses dropped by over $1,000 per loan. However, production revenues declined as competition for loans stiffened, negating a portion of these cost-cutting efforts.”–MBA Vice President of Industry Analysis Marina Walsh.

“The report shows welcome engagement from Treasury and directs the government’s regulatory priorities and the future of the mortgage market. It’s very gratifying to see many long-standing MBA priorities reflected in the report, and we look forward to working with the relevant stakeholders in implementating these recommendations.”–Justin Wiseman, MBA Associate Vice President and Regulatory Counsel, on a recent Treasury Department report on the regulatory landscape that largely incorporates MBA recommendations to remove technology barriers to improve efficiency, lower costs and enhance customer experience.

“While the observed denial rate can be useful, it can’t provide evidence that equally qualified applicants are being treated differently because of race or ethnicity.”–From an Urban Institute report examining denial rates for minority mortgage applicants.

“Home sales are being stifled by a shortage of homes on the market. The game of musical chairs that is the housing market today needs more chairs. Additional supply, particularly of new entry-level homes to meet the needs of the first-time buyers who remain interested in buying even as rates increase, is critical to satisfy the rising demand for housing.”–First American Financial Corp. Chief Economist Mark Fleming.

“Ms. Kraninger will utilize her significant experience in government management to improve the Bureau’s operations and oversight. We also are hopeful that she will leverage the information gathered from the Bureau’s ongoing RFI process to protect consumers from unscrupulous practices while also ensuring that borrowers have access to safe, sustainable loan products.”–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in a letter of support for Consumer Financial Protection Bureau Director nominee Kathleen Kraninger, whose nomination will be considered today by the Senate Banking Committee.

“The inconsistencies between the 2013 Final Rule and the Inclusive Communities decision cast needless uncertainty on business decision-making. It is important that HUD amend its Fair Housing regulations to reflect the subsequent standards articulated by the Supreme Court. Doing so will provide businesses with the clarity needed to “sustain a vibrant and dynamic free-enterprise system.”From an MBA/trade group letter urging HUD to align its final rule on disparate impact with a recent Supreme Court ruling clarifying the rule’s impact on housing policy.

“Commercial and multifamily real estate borrowing and lending continues to track with last year’s level. Investor demand for multifamily properties and hotels are helping push originations higher, even as loan demand for retail properties is down.”–MBA Vice President for Commercial Real Estate Research Jamie Woodwell.

“The Bay Area, Seattle and Portland have been so competitive for so long that buyers and sellers have adjusted to those conditions and may feel uneasy about the changes we’re seeing in the market, After several years of shrinking inventory and unsustainable price growth, I’m encouraged by these changes as a signal that we may be returning to a healthier, more balanced market.”–Taylor Marr, senior economist with Redfin, Seattle.