MBA Newslinks Archive

“It is unclear what impact hurricanes Harvey and Irma will have on housing starts in the region in coming months, but it is likely that recent new home sales will be delayed in breaking ground.”–MBA Vice President of Research and Economics Lynn Fisher.

“Mortgage credit availability increased slightly in August, driven by the expansion of credit among conforming and agency jumbo programs. Following the same pattern as last month, agency eligible adjustable-rate mortgage loan programs continued to be updated in August to allow for higher loan to value ratios, effectively increasing the availability of credit.”–MBA Vice President of Research and Economics Lynn Fisher.

“Confidence in market fundamentals remains high among industry participants, largely due to strong demand fueled by lifestyle preferences and demographic changes…[but] it underscores the need for increased investment in the acquisition and preservation of affordable rental housing.” –Freddie Mac Multifamily Executive Vice President David Brickman, on a survey the found concerns about affordable multifamily housing strength.

“The most effective goals will be those that include both specific, quantitative outcomes based on loans made to distinct borrower/market segments and qualitative efforts, such as outreach, research and targeted initiatives. These differing types of goals should be pursued in tandem and should complement each other.”–MBA President and CEO David Stevens, CMB, in a letter to the Federal Housing Finance Agency on affordable housing goals for Fannie Mae and Freddie Mac.

“Filling HUD’s Deputy Secretary position could not be more critical. Pam Patenaude’s leadership will be a great asset to the Department, and her knowledge will forward the mission of HUD. We urge you to support her confirmation and move it to the Floor for a vote.”–From a letter signed by MBA and nearly 60 trade groups urging the Senate to vote on Pam Patenaude’s nomination as HUD Deputy Secretary.

“Purchase transactions, which are inherently more at risk of defects, fraud and misrepresentation, showed no increase compared to a month ago. One month doesn’t establish a trend, so it will be important to see if we’ve reached a turning point in the long-run trend of increasing defect risk.”–Mark Fleming, chief economist with First American Financial Corp., Santa Ana, Calif.

“Since properties have been sufficiently insured, the commercial loan toll has been very limited compared to the devastating human toll. However, Houston could be somewhat of a different story. With some large area offices facing major lease expirations, an extended inability to show, renovate or release those offices could be impactful.”–Trepp Senior Managing Director Manus Clancy, on the impact of Hurricane Harvey on Houston-area commercial real estate properties.

“The entire mortgage industry is working around the clock to identify homeowners in the affected areas who are in need of assistance or who have questions about their property, payment status or loans. We are encouraging any homeowner who is unsure of their situation to immediately contact their lender or servicer as well as their hazard or homeowners insurance provider.” –MBA President and CEO David Stevens, CMB.

“Production profitability improved in the second quarter as volume picked up with the spring home buying season and a slight drop in mortgage rates. Production revenues declined due to increased competition, but that was more than offset by per loan expenses dropping to levels comparable with other recent quarters of similar volume.”–MBA Vice President of Industry Analysis Marina Walsh.

“FHFA’s effort to expand the use of alternative credit scoring models is a critical component to reversing the steady decline in homeownership particularly for low- and moderate-income as well as minority consumers.”–From an MBA/trade group letter asking the Federal Housing Finance Agency to update credit risk scoring models used by Fannie Mae and Freddie Mac.