MBA Newslinks Archive

“Retailers will continue to focus on cities with new store concepts experimenting with smaller footprints and vertical layouts to be more amenable to mixed used projects in urban cores.”–JLL Retail Research Director James Cook.

“The release of this budget is just the first step of a much longer budget process. MBA will continue to work with the Administration, Congress and all stakeholders, in order to support vibrant real estate markets that grow and strengthen America’s communities.”–Mortgage Bankers Association President and CEO David Stevens, CMB.

“While they are confident that the economy will keep growing, as monetary policy remains accommodative, there was no indication that they are worried about the economy overheating, even with the quite rapid job growth we have seen thus far this year.”–MBA Chief Economist Mike Fratantoni, on the Federal Open Market Committee’s expected decision to raise the federal funds rate yesterday.

“The order is inconsistent with the Bureau’s regulations, which permit transactions in which real services are provided at market-based prices. Those regulations are binding, unambiguous and irreconcilable with the Order… In abruptly departing from the plain language of the statute, the Bureau’s own regulations, and longstanding guidance for industry, the Order exceeded the Bureau’s authority and violated fundamental tenets of administrative law and fair notice. The Order also raises the troubling specter of further changes without notice, deeply unsettling a market built on predicable legal rules.”–From an amicus brief filed by MBA and a dozen other trade groups in support of PHH Corp. in its legal battle against the Consumer Financial Protection Bureau.

“The bar was high as last February was a particularly strong month for applications, as was March 2016. The surprisingly strong employment numbers for the beginning of 2017 suggest that demand for new homes should continue to grow this year. Additionally, based on the current reading, we expect seasonally adjusted new home sales to be up by about 8 percent in February compared to a year ago.”–MBA Vice President of Research and Economics Lynn Fisher.

“The odds of a Fed rate increase at the meeting next week was already over 90 percent. This employment situation report only gives more reason for the Fed to move sooner rather than later.”–Mark Fleming, chief economist with First American Financial Corp., Santa Ana, Calif.

“Passage of the Flood Insurance Market Parity and Modernization Act will encourage the growth of a competitive and sustainable private flood insurance market. Increased private sector involvement will expand available insurance options, lower costs to consumers and reduce the federal government’s exposure to flood loss over time.”–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in an MBA letter to House and Senate leaders urging support for flood insurance modernization legislation.

“For most investor groups, commercial and multifamily mortgage delinquencies are at or near their all-time lows. Only loans in commercial mortgage-backed securities continue to show elevated levels of delinquencies and loans in foreclosure, as the market continues to work through the large volume of mortgages made during the 2005-2007 time period.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“We are in for many more years of elevated levels of negative equity. Even as median home values close in on peak levels reached during the housing boom, some people still face a long wait before returning to a positive balance on their home loans.”–Zillow Chief Economist Svenja Gudell.

“G-fees are a critical risk management tool used by Fannie Mae and Freddie Mac to protect against losses from loans that default. Increasing g-fees for other purposes imposes an unjustified burden on homeowners who would pay for any increase through higher monthly payments for the life of their loan.”–From an MBA/trade group letter urging support of a House bill that would prohibit use of Fannie Mae/Freddie Mac guaranty fees to offset other budget spending.