MBA Newslinks Archive

“There are still relatively few existing homes listed for sale and the small 3.8 month supply is supporting the recent price increases. Housing affordability has declined since 2012 as the pressure of higher prices has been a larger factor than stable to lower mortgage rates.”–David Blitzer, Managing Director and Chairman of the Index Committee with S&P Dow Jones Indices, New York.

“PACE loans are–in substance–consumer loans secured by real property and should be subject to federal consumer protection requirements, not dependent on a patchwork of limited or non-existent state/municipal laws that do not adequately protect homeowners.”–From MBA/trade group letters to House and Senate sponsors of bills that would put Property Assessed Clean Energy loans on a par with other mortgage products.

“The first quarter of 2017 shows strong start to home buying season. While inventory remains low, the pace of existing home sales is relatively steady…These promising numbers bode well for this rest of home buying season, showing that demand remains high despite the headwinds in the market.”–Cheryl Young, senior economist with Trulia, San Francisco.

“This paper not only lays out a detailed end state solution that will work for the residential and multifamily markets, but also the transition steps to accomplish this goal. We look forward to working with Congress and the Administration to find a permanent, sustainable solution to the government’s role in housing finance that doesn’t repeat the mistakes that led to the crisis.”–MBA Chairman Rodrigo Lopez CMB.

“A tremendous amount of effort went into Version 3.3, which was developed at a time when lenders were going through significant regulatory changes…Their hard work resulted in a model that lenders are able to rely on to implement new regulatory changes and other mandates.” –Randy Poirier, Vice President of Data Solutions with Black Knight Financial Services, Jacksonville, Fla., and chair of MISMO’s Residential Standards Governance Committee.

“Rates are still too high to attract much interest from homeowners looking to refinance, and purchase activity was relatively weak. We do expect a pickup in purchase activity through the remainder of the spring season. With a strong job market and signs of continuing economic growth.”–MBA Chief Economist Mike Fratantoni.

“The current regulatory environment has increased costs and forced many responsible mortgage bankers to limit lending. This most often harms low-to-moderate income borrowers, minorities, and first-time homebuyers. We urge the Committee to do a thorough review of current rules and regulations and make adjustments where necessary in order to balance the need for consumer protection while ensuring access to safe, sustainable mortgage credit.”–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in a letter to Senate Banking Committee leadership.

“The surge in construction is welcome given broad-based tenant demand, which is being supported by a number of positive economic drivers. While there is no one surefire indicator to gauge future demand, the totality of the economic data makes us optimistic that the industrial market will remain relatively balanced in the coming quarters despite a flush construction pipeline.”–Dave Egan, CBRE Americas Head of Industrial & Logistics Research.

“Mortgage lenders with servicing portfolios experienced significant fluctuations in the valuation of their mortgage servicing rights related to corresponding interest rate fluctuations during 2016. Most servicers reported net servicing financial losses in the first half of the year, followed by recoveries by the end of the year.”–Marina Walsh, MBA Vice President of Industry Analysis.

“We believe some aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act and other statutes have made the mortgage market safer; however, in many other respects the Dodd-Frank rules have reduced the availability and affordability of mortgage credit for many American families. While we believe some of these new regulations were needed, the pendulum has swung too far and certain aspects of the current regulatory regime warrant review and adjustment.” –MBA President and CEO David Stevens, CMB, in a letter to Treasury Secretary Steven Mnuchin.