MBA Newslinks Archive

“Change will inevitably occur. It’s the business cycle; it’s just the way things work. At some point–hopefully not too soon–this bullish market will inevitably take a turn.”–MBA Chairman Dave Motley, CMB.

“We’re not seeing the same pace of growth we used to see, but we are seeing growth. That’s pretty remarkable this late in the cycle. CRE is sort of like the Energizer Bunny–it keeps going and going.”–MBA Vice President of Commercial/Multifamily Research Jamie Woodwell.

“There is a strong mix of both headwinds and tailwinds in the commercial real estate finance markets right now. Our sense is that for commercial and multifamily mortgage borrowing and lending, the net effect is likely to be close to a wash.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“FHA borrowers appear to be impacted not only by the storms but other factors that could be stretching their ability to make payments. Regardless of the hurricanes, an increase in delinquencies–particularly FHA delinquencies–off historic lows is not particularly surprising given the seasoning of the loan portfolio, expected higher interest rates, declining average credit scores on new FHA endorsements since 2014 and rising debt-to-income ratios.”–MBA Vice President of Industry Analysis Marina Walsh.

“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.

“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.

“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.

“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 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.

“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.