MBA Newslinks Archive

“Largely, we are a collection of small businesses. “We operate differently from the large guys; we don’t have the same opportunity of brand. As a small business, we do things large things large businesses can’t–and not necessarily with less compliance, less structure or less policies and procedures.”–MBA Vice Chairman Chris George.

“The difference in survival for mortgage lending firms as we transition from a refinance to a purchase market depends on how quickly and adeptly the lender supports the shift.”–MBA President and CEO David Stevens, CMB.

“We recognize the Administration’s need to examine the overall health of the insurance program and weigh that against the benefits of lowering mortgage insurance premiums. Given that lenders have already started preparing for the MIP decrease, it is important that any new policy be implemented in a way that minimizes disruption for borrowers and lenders.”–MBA President and CEO David Stevens, CMB.

“How a building is secured can have a substantial impact on the total costs that its vacant status imposes on its neighbors, the community and society. It impacts future foreclosures and the costs of those foreclosures.”–Former Treasury Assistant Secretary Aaron Klein, author of a study by Community Blight Solutions on the impact of vacant and abandoned properties on neighborhoods and communities.

“Prices of homes backed by FHA loans also accelerated higher in the wake of that last premium cut, although that premium cut occurred concurrently with a drop in mortgage rates, a scenario that is less likely this time around.”–Daren Blomquist, senior vice president with ATTOM Data Solutions, Irvine, Calif.

“Serious delinquency remains key indicator of positive market stability. HOPE NOW tracks those homeowners who are 60+ days delinquent and we have reported a steady total of just under 1.4 million borrowers in November. This is significant decrease from the nearly 2 million borrowers who were seriously delinquent just 24 months ago.”–HOPE NOW Executive Director Eric Selk.

“Saving enough cash for a down payment is a major barrier to homeownership, especially in expensive markets, where a 20 percent down payment can cost nearly $200,000.”–Zillow Chief Marketing Officer Jeremy Wacksman.

“We need to shore up our nation’s housing finance sector, and HUD plays a crucial role in the housing finance system through FHA and Ginnie Mae–helping borrowers with less than perfect credit or first-time homeowners get their toe in the door of a home they can call their own,” he said. “But credit to purchase a house has been constricted since the 2008 crash and many younger households have been held back from buying that first home. With the Fed raising rates recently, mortgages are likely to get more expensive.”
–Ben Carson, in testimony yesterday before the Senate Banking Committee.

“Dr. Carson has demonstrated throughout his career that he possesses the intellect to understand and respond to complex challenges. We believe he will put those talents to good use, helping strengthen America’s housing market, promoting the production of affordable rental housing and improving communities nationwide.”–MBA President and CEO David Stevens, CMB, in an MBA letter to the Senate Banking Committee ahead of Ben Carson’s nomination hearing this morning.

“Ten-year Treasury yields fell the week following New Year’s Day as markets continue to adjust their expectations about the incoming administration and Federal Reserve policy. This pulled the average mortgage rate down for the second week in a row, this time by 7 basis points.” –MBA Vice President of Research & Economics Lynn Fisher.