MBA Newslinks Archive

“Ginnie Mae is engaging with issuers to implement a cure for pools that have been submitted with non-compliant loans. Ginnie Mae expects that the law will be effective in helping curb abuses that have been identified in connection with certain refinance programs utilized by veterans.”–From a Ginnie Mae statement on changes to its Real Estate Mortgage Investment Conduit program following mandated changes in recent regulatory relief legislation passed by Congress.

“While for the first time since 2014 first-time homebuyer demand is slightly easing, supply pressures will continue to drive price appreciation and freeze out a large percentage of the 2.7 million first-time homebuyers who are still missing from the market.”–Genworth Chief Economist Tian Liu.

“Given the BCFP’s significant and persistent influence on the housing finance industry, it is crucial for the Bureau to meaningfully and consistently engage industry stakeholders.”–MBA President and CEO David Stevens, CMB, in a letter to the Bureau of Consumer Financial Protection on its external engagement strategy.

“Rates slipped slightly over the week as concerns over U.S. trade policy and global growth sent some investors back to safer U.S. Treasuries. Minutes from the most recent Federal Open Market Committee meeting also yielded a more dovish tone, which added to the downward pressure in rates.”–MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.

“While industry predictions for this year’s storm season indicate average activity levels, associated storm surge risk remains an important consideration for residential and commercial properties in the 19 states analyzed. Depending on the location of a storm’s landfall and that area’s population density and reconstruction costs, lower Category storms can cause just as much damage as storms in higher categories.”–Tom Jeffery, senior hazard scientist with CoreLogic, Irvine, Calif.

“Women who cry in the workplace don’t cry because they’re upset. They cry because their pissed.”–Joanne Lipman, author of That’s What She Said: What Men Need To Know (and Women Need to Tell Them) About Working Together, at a recent MBA mPower event.

“MBA commends the Senate for confirming Brian Montgomery to lead the Federal Housing Administration. His experience, knowledge and ability will ensure his success in this position. MBA fully supports FHA’s efforts to assist low and moderate income Americans and first-time homebuyers. We look forward to working with Brian Montgomery and the FHA team, and continuing to work with Secretary Ben Carson, to ensure they succeed in their mission.”–MBA President and CEO David Stevens, CMB.

“The bill marks years’ worth of work by a group of bipartisan Senators and parallel and focused advocacy by the legislative and policy teams at MBA…I want to commend the House of Representatives for joining the Senate and passing this bill which will protect consumers and provide greater access to mortgage credit.”–MBA President and CEO David Stevens, CMB, on House passage of S. 2155, a broad regulatory relief bill.

“All of us have to work together–mortgage bankers, realtors, home builders–to create meaningful change. We don’t have to worry about people wanting to own a home–they do.”–MBA President & CEO David Stevens, CMB, speaking at the MBA National Secondary Market Conference & Expo in New York.

“Despite rising prices and low inventory, sales in 2018 so far are slightly higher than last year, which was the best year on record since the 2006 housing boom. As we enter peak home buying season, new listings will be key in maintaining sales growth and moderating the rapid price increases we’ve seen this year.”–Redfin Chief Economist Nela Richardson.