“Questions arise about future [small-cap commercial real estate] leasing momentum. Despite the elevated year-end demand figures, annual demand trailed the high-water mark set in 2014 during the post-financial crisis era.”
–Randy Fuchs, Principal with Boxwood Means, Stamford, Conn.
“It’s time to think differently about how taxpayer-backed entities, especially those regulated by the FHFA, can be deployed to serve the entire housing market and not just a limited set of participants. The housing finance system is rapidly innovating new business models, in response to new economic and demographic fundamentals and new regulation. We must think differently about making sure liquidity and capital can support all qualified, compliant companies that serve today’s housing community.”
–MBA President and CEO David Stevens, CMB, in an op-ed calling for changes to the Federal Home Loan Bank System’s membership criteria.
“Those under 35 stay employed at the same place for an average of three years, so buying may not make sense for them, from a financial standpoint, even if paying a mortgage would be more affordable.”–Zillow Chief Economist Svenja Gudell.
“VA should issue a final Qualified Mortgage rule that establishes clear, bright lines for VA lending. And once the final rule is issued, we hope they will permit an appropriate implementation period so that smaller lenders like our company have the time we need to test our systems and ensure we are in full compliance.”
–James Danis II, CMB, AMP, President of Residential Mortgage Corp., Fayetteville, N.C., testifying yesterday on behalf of MBA before a House VA subcommittee.
“Whether it’s by keeping interest rates well below the normalized rate such as the U.S. or by moving forward with the additional capital injections occurring in many other countries, the bottom line is that [central banks] will continue to take extraordinary measures to prolong this business cycle. And more likely than not, those extraordinary measures will continue to create a highly robust–albeit highly uneven–real estate environment.”
–Kevin Thorpe, Chief Economist with Cushman & Wakefield, New York.
“While we would typically expect a market downtrend this time of the year due to an overall lower level of activity in the real estate market, there is added volatility in the market due to the implementation of TRID, the broader economic slowdown and the string of bad runs in the equity markets.”
–Alex Villacorta vice president of research and analytics with Clear Capital, Reno, Nev.
“It’s hugely important to put your money where your mouth is when it comes to diversity. Our firm has become much more diverse up and down the entire organization. We want to get best candidates we can and we want a diverse slate.”
–Robert Little, Chief Investment Officer with Cornerstone Real Estate Advisers LLC, Hartford, Conn.
“Even if a servicer has prior express consent from their customer to contact them on their cell phone, a servicer is still at risk for violations of the Telephone Consumer Protection Act.”–MBA Senior Vice President Pete Mills
“MBA wholeheartedly supports ensuring USDA receives full funding for its technology and staffing needs. However, we believe Congress should continue to fund these priorities through the annual appropriations process, not through an unprecedented and permanent fee that will undoubtedly be passed on to borrowers and raise the cost of homeownership.”
–MBA Senior Vice President of Legislative & Political Affairs Bill Killmer in a letter to House members. opposing an amendment imposing a fee on USDA Section 502 housing programs.
“Property incomes are rising, interest rates are low and property values are up. We expect the momentum to continue into 2016 and to support both the demand for and supply of commercial and multifamily mortgage capital.”
–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.