MBA Newslink Friday 7-21-17

“It’s a tale of two generations. In America’s most expensive housing markets millennials struggle to find affordable housing. Meanwhile, nine in 10 retirement-age baby boomers and older Americans want to stay in their homes even as costs rise.”–Cameron Simon, housing data analyst with Trulia, San Francisco.

MBA Newslink Thursday 7-20-17

“We believe this plan will lead to a more stable system that protects taxpayers while also promoting broad credit availability in a primary market featuring lenders of all sizes and business models. Our plan features a number of provisions specifically designed to protect small and mid-sized lender access to the secondary market.”–MBA President and CEO David Stevens, CMB, in a letter to the Senate Banking Committee supporting GSE reform protections for small and mid-sized lenders.

MBA Newslink Wednesday 7-19-17

“There is so much talk about millennials but it’s important to know that diversity is really the major calling card of the millennial generation. Over 40% of millennials are from diverse backgrounds. When you look at the Latino market, more than 60% are under the age of 33! If a company wants to only focus on millennials, they are not realizing that you can’t do it without a diversity strategy as well.”–L. Maria Zywiciel of NAHREP Consulting Services.

MBA Newslink Tuesday 7-18-17

“By clarifying that private coverage satisfies the continuous coverage requirement, S. 563 and H.R. 1422 will help to make these policies a more viable option for consumers.”–From an MBA/trade group letter urging Congress to pass legislation to modify the National Flood Insurance Program.

MBA Newslink Monday 7-17-17

“We are at the part of the season where housing market activity normally begins to slacken and this was true for mortgage applications for new homes in June. That said, activity was up by 10 percent relative to one year ago.”–MBA Vice President of Research and Economics Lynn Fisher.

MBA Newslink Friday 7-14-17

“Mortgage credit availability increased slightly by 0.1 percent in June lifted by expansion among jumbo loan programs and additional availability of affordable conforming loan programs.”–MBA Vice President of Research and Economics Lynn Fisher.

MBA Newslink Thursday 7-13-17

“Many independent mortgage companies are now holding loans and holding the servicing rights on those loans, which means they have servicing operations as well. With an increase in interest rates, valuation of servicing rights increase, which improves profitability.” –MBA Vice President of Industry Analysis Marina Walsh, in a new MBANow video.

MBA Newslink Wednesday 7-12-17

“Rates continued to increase last week, given increasing evidence that the Fed and other central banks are more likely to raise rates given the pickup in economic growth in their respective economies.”–MBA Chief Economist Mike Fratantoni.

MBA Newslink Tuesday 7-11-17

“MBA strongly supports efforts to improve liquidity in secondary markets for affordable housing preservation, manufactured housing and rural housing, and believes that such improvements hold the potential to benefit very low-, low- and moderate-income borrowers.” –MBA President and CEO David Stevens, CMB, in a letter to the Federal Housing Finance Agency on GSE “Duty to Serve” programs.

MBA Newslink Monday 7-10-17

“MBA appreciates the CFPB’s efforts in amending the Know Before You Owe rule to address several significant questions that have been raised for some time by our industry. This is an extensive rule and we intend to review it closely with our members.”–MBA President David Stevens, CMB, in a statement following updates on the Know Before You Owe rule issued by the Consumer Financial Protection Bureau on Friday.