MBA Newslinks Archive

“Most of the pressure buyers are feeling is from competition for a very limited number of homes for sale. The fact that such a small share of buyers will scrap their plans to buy a home if rates surpass 5 percent reflects their determination to be a part of the housing market.”–Taylor Marr, senior economist with Redfin, Seattle.

“It’s likely that all of the investment in more digitized, automated and efficient mortgage manufacturing and underwriting technology that’s been made in recent years is beginning to pay off. Now the question is, how much lower will it go?”–First American Chief Economist Mark Fleming.

“Historically low mortgage rates and increasingly favorable employment conditions should have generated a far greater number of home purchases by young adults, especially in the last five years. Unfortunately, home-price and rent growth above incomes–driven primarily by a severe shortage of housing supply–have been too high of a hurdle for many would-be buyers to clear.”–Freddie Mac Chief Economist Sam Khater.

“If [apartment owners] miss the window to drive rents during the second quarter, it’s tough to counter that shortfall later in the year.”–RealPage Chief Economist Greg Willett.

“The industry has undergone significant changes in the decades since these rules were first conceived. Recent advances in technology have only quickened the pace of change. The Bureau must ensure its regulations and regulatory guidance reflect these changes. In the past, the Bureau billed itself as a 21st century agency. In accordance with its mandate, the Bureau should endeavor to create 21st century rules.”–MBA Senior Vice President for Public Policy and Industry Relations Steve O’Connor, in a letter to the Consumer Financial Protection Bureau.

“Commercial and multifamily mortgage debt outstanding increased more than during any other Q1 since before the Great Recession…For the first time since 2007, CMBS has seen three straight quarters of increase.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“The start to the summer home buying season is in full swing and while inventories remain tight, we’re seeing an increasing percentage of purchase loans.” –Jonathan Corr, president and CEO of Ellie Mae, Pleasanton, Calif.

“The Administration’s proposal to reform Fannie Mae and Freddie Mac closely tracks much of the work that has been done to date by policymakers on Capitol Hill. It includes many core principles that MBA has long advocated for, such as an explicit government guarantee on [mortgage-backed securities] only as a catastrophic backstop, allowing for multiple guarantors and ensuring small lender access. MBA is heartened that the proposal recognizes that reform must be part of any plan before either Fannie Mae or Freddie Mac is released from conservatorship.”–MBA President and CEO David Stevens, CMB, on an Administration proposal to end conservatorship of the government-sponsored enterprises and privatize Fannie Mae and Freddie Mac.

“It is not enough for the Bureau simply to stop applying new interpretations to past practices; instead, the Bureau has an affirmative and on-going obligation to re-examine its regulations and issue new interpretations that establish clear standards for complying with consumer protection laws that the industry can apply when providing products and services to consumers.”–MBA Senior Vice President of Member Engagement and Public Policy Pete Mills, in a letter to the Consumer Financial Protection Bureau.

“We believe that HMDA reporting on business-to-business loans secured by multifamily properties is not necessary to fulfill the statutory purposes of HMDA and that the burden of collecting and reporting that information therefore far outweighs the benefits of doing so.”–From an MBA/trade group letter asking the Consumer Financial Protection Bureau to exempt multifamily loans from Home Mortgage Disclosure Act reporting.