MBA Newslinks Archive

“Loans backed by commercial and multifamily properties continue to perform extremely well. For most lender types–including banks, life insurance companies, Fannie Mae and Freddie Mac–delinquency rates are at or near their all-time lows.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“The Treasury Department has specifically identified problems with the design of the Volcker Rule, and the OCC acknowledges there is broad recognition that the design of the Volcker Rule should be improved. We agree. We believe weakness in the current rule’s design is a key contributor to the potential adverse impacts described above–and that it also helps explain the difficulty regulators have had interpreting and applying the rule consistently.”–From an MBA letter to the Office of the Comptroller of the Currency advocating changes to the Volcker Rule.

“We urge Treasury, FHFA and Congress to remain focused on addressing the long-term housing finance reform efforts necessary to end GSE conservatorship permanently and create a stronger, stable system for the future that helps ensure all in America have access to affordable housing opportunities.”–from an MBA/trade group letter to Administration officials on GSE reform.

“The Fed statement was relatively hawkish, with members clearly indicating plans to increase short-term rates one more time this year, likely in December, and 3-4 times per year until the fed funds target reaches roughly 3 percent. Even though inflation remains relatively low, the tight job market is leading the Fed to slowly move rates up to prevent the economy from overheating.”–MBA Chief Econonmist Mike Fratantoni.

“MBA will continue working with HUD to secure a long-term resolution for this issue so it does not continue to be an impediment to your business.”–MBA President and CEO David Stevens, CMB, on HUD’s waiver yesterday of its policy on timeframes for completing inspection of properties in areas of Florida affected by Hurricane Irma.

“What the industry really needs at this point in time is clear guidance–not just the rules, but clear guidance on the Bureau’s expectations for how to comply. The paper comes up with a series of recommendations that will push past what we call the regulation by enforcement paradigm and move us into a more guidance-driven supervisory approach.” –MBA Senior Vice President of Residential Policy and Member Engagement Pete Mills, discussing a new MBA white paper, CFPB 2.0: Advancing Consumer Protection.

“This policy alignment would allow literally thousands of pending home sales transactions get back on track, allowing loans to close on properties where there is no damage and expediting the repair process where necessary to restore the damage and complete the home sale.”–MBA President and CEO David Stevens, CMB, in a letter to HUD Secretary Ben Carson asking FHA to re-align its property re-inspection policies with that of other federal agencies.

“Mortgage banking is a highly cyclical business, prone to expansion and contraction as market conditions change,” Rossi said. “Mortgage product innovation is healthy for the industry and consumer so long as product risks and process quality are well understood.”–Clifford Rossi, Executive in Resident and Professor with the Robert H. Smith School of Business at the University of Maryland and author of a new RIHA report, Managing Mortgage Product Development Risk.

“His previous experience will serve him well in this position. I hope the Senate will move quickly to confirm Brian and we look forward to working with him, Secretary Carson and others in the Administration to ensure a strong, robust FHA program.”–MBA President and CEO David Stevens, on the Trump Administration’s nomination of Brian Montgomery as FHA Commissioner.

“The Consumer Financial Protection Bureau’s reluctance to issue clear guidance on the laws it inherited, such as the Real Estate Settlement Procedures Act, has resulted in a confused, uneven market that actually narrows consumers’ access to sustainable credit. Now is the time to look back at what has been learned over the past five years and make some key changes that will help consumers and the industry alike.”–MBA President and CEO David Stevens, CMB.