MBA Newslinks Archive

“The mortgage-related provisions of this bill provide important relief to the housing market by addressing key regulations including HMDA and the TILA/RESPA integrated disclosure. We are also glad that the bill amends the SAFE Act to provide increased job mobility for loan originators, and includes language addressing concerns with PACE lending. We now look forward to working with other policymakers as this legislation advances to the full Senate.”–MBA President and CEO David Stevens, after the Senate Banking Committee passed a sweeping regulatory relief bill yesterday.

“We believe the outcome would be enhanced consumer access to credit at lower costs.”
–From an MBA letter to Senate Banking Committee members in support of H.R. 2155, a regulatory relief bill scheduled for markup today.

“Because of the Rounds Amendment, this package will protect the ability of most Americans to obtain safe, decent shelter and affordable home mortgage credit without disruption. Had this language not been included, the change in tax accounting for MSRs would have had a devastating impact on the flow of capital that supports a robust and competitive real estate finance market, both single-and commercial/multifamily. We thank the Senate for its leadership on this issue.”
–MBA President and CEO David Stevens, CMB, in a statement following Senate passage of a tax reform bill in which MBA worked with senators to eliminate a provision that would have dramatically changed treatment of mortgage servicing rights.

“For those mortgage bankers holding mortgage servicing rights, lower MSR valuation losses helped overall profitability.”–MBA Vice President of Industry Analysis Marina Walsh, on the MBA 3rd Quarter Mortgage Performance Report.

“It is hard to imagine commercial and multifamily mortgages performing better than they are today. Strong property fundamentals and values and ready credit availability are all helping contribute to this extraordinary performance.”
–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“This provision would have severe, unintended consequences resulting in higher costs for borrowers and diminished access to credit, caused when servicers of all shapes and sizes are forced to exit the business because they can’t, or won’t, operate under this new rule. It would also negatively impact trillions of dollars of mortgage servicing rights held by small community banks, non-bank lenders, regional and large banks and commercial and multifamily lenders.”
–MBA President and CEO David Stevens, CMB, on a provision in the Senate tax bill under consideration that would dramatically alter how banks treat mortgage servicing rights.

“As responsible keepers of this sensitive information, we feel compelled to articulate our profound concerns about the risks to consumer privacy, of identity theft and fraud presented by the Proposed Guidance.”–MBA and other industry trade groups, in a letter to the Consumer Financial Protection Bureau regarding its proposed guidance on treating loan-level data under the Home Mortgage Disclosure Act.

“Eventually, younger people move for jobs and empty nesters need to leave their five-bedroom homes.”
–Joe Melendez, CEO of ValueInsured, Dallas.

“Existing homeowners remain reluctant to list their homes for sale for fear of not being able to find a home to buy, keeping supply levels low. At the same time, a healthy number of potential home buyers continue to enter the market, so house prices are increasing and affordability is declining.”
–First American Financial Corp. Chief Economist Mark Fleming.

“In 2017, the [Consumer Financial Protection Bureau] is at an inflection point, when it can now pivot and focus its resources on providing supervision and binding, authoritative guidance that helps responsible parties, including those in the mortgage industry, comply with the new rules of the road, while limiting enforcement to the actors operating without regard for clearly delineated and well-illustrated rules established by CFPB.” 
–MBA Senior Vice President, Public Policy & Industry Relations Stephen O’Connor, in an MBA letter to the CFPB on its 2018-2022 Strategic Plan.