MBA Newslinks Archive

“Home equity is a critical source of financing for low- and middle-income households for home improvements, college tuition and other emergencies. MBA believes deductibility of a portion of home equity indebtedness should be retained. In addition, the deduction for property taxes helps families overcome affordability challenges in high cost and/or high tax jurisdictions.”–MBA President and CEO David Stevens, CMB, in a letter to Senate Finance Committee members on tax reform legislation.

“Sky-high rents and rising home prices are putting first-time buyers in a bit of a catch-22. Buying now with a low down payment can be riskier, and the offer may not be considered as competitive by the seller. However, a renter who saves for another year to reach a larger down payment may find that the home they love today is outside their budget a year from now.”–Zillow Chief Economist Svenja Gudell.

“Borrowing and lending associated with commercial and multifamily real estate increased again in the third quarter, even as sales transaction volume slowed. Most property types and capital sources saw stronger lending activity than a year earlier, supported by solid property fundamentals and continued property value appreciation.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“Commercial and multifamily real estate finance is a nearly $4 trillion industry and touches almost every segment of the economy. Acquisition, Development or Construction loans in particular, which this legislation supports, help to promote economic growth and job creation.”–MBA President and CEO David Stevens, CMB, on House passage of H.R. 2148.

“Although H.R. 1 would provide both owners and renters with more take-home pay by lowering overall tax rates and nearly doubling the standard deduction, we believe the cumulative impact of the changes to the mortgage interest deduction and property tax deductibility would erode homeownership incentives for too many Americans.”–MBA President and CEO David Stevens, CMB, in a letter to the House Ways and Means Committee on tax reform legislation.

“This actually expedites the reinspection process rather than waiting on FEMA. MBA reached out for HUD/FHA in the wake of Harvey and Irma after it became apparent that FEMA’s extended incident period designations were delaying the ability to close loans that were in process prior to disasters, but that had little or damage.”–MBA Senior Vice President of Residential Policy and Member Engagement Pete Mills, on a new disaster waiver granted by FHA for California counties impacted by recent wildfires.

“Only Congress can alter the existing GSE charters, establish an explicit federal government guarantee and create a regulatory mandate to maintain a level playing field. We cannot go back to a housing finance system that provides private gains when markets are strong yet relies on support from taxpayers when losses occur.”–MBA President and CEO David Stevens, CMB, in testimony yesterday before a House subcommittee on housing reform.

“There was no drama surrounding this meeting of the FOMC. The market is anticipating the next rate hike in December, and the Fed clearly signaled they agree with that expectation. The FOMC statement highlighted a ‘solid rate’ of economic growth despite the impact from the hurricanes.”–MBA Chief Economist Michael Fratantoni.

“Since hitting a 2017 low of 4.03 percent in September, the 30-year rate has increased almost 20 basis points and refinance activity has declined over 20 percent over the same period. Applications for home purchase loans decreased slightly last week but remain almost 10 percent higher than the same week a year ago.”–MBA Associate Vice President of Research and Economics Joel Kan.

“MBA has long recognized the importance of this ‘bright line’ between the primary and secondary markets, and its continued application is particularly crucial given the rapid development and deployment of new mortgage-related technologies.” –MBA President and CEO David Stevens, CMB, in a letter to the Federal Housing Finance Agency.