MBA Newslinks Archive

“Regulatory uncertainty, combined with heightened enforcement risk have forced many responsible lenders to reconsider their ability to lend to the full extent of the credit box. These decisions ultimately impact the consumer, and often disproportionately impact low-to-moderate income borrowers, minorities and first-time homebuyers.”–MBA Chairman-Elect J. David Motley, CMB, in testimony yesterday before a House subcommittee.

“Our industry takes risks everyday developing new businesses, providing loans, expanding communities. Technology is the next logical risk. We must evolve or become obsolete. We must rethink our business practices and our business models to adapt to the age of constant digital connectivity. As we restructure, technologies should be developed with the flexibility to maintain consumers’ individual choice.”MBA Chairman Rodrigo Lopez, CMB.

“Single-family rentals should continue to yield strong returns in many parts of the country going forward given the market undercurrents of low rent-ready housing inventory and low homeownership rates.”–Daren Blomquist, senior vice president with ATTOM Data Solutions, Irvine, Calif.

“Low inventory, strong demand and tough competition will be the defining characteristics of this year’s home shopping season. Even though interest rates are rising, buyers are eager to start their home search.”–Zillow Chief Economist Svenja Gudell.

“MBA believes that the mortgage servicing transfer provisions should receive more discussion than others in the proposal as they are far more complicated and technical. Because of their far-reaching implications for the State’s consumers and mortgage market, MBA urges that they be withdrawn from this rule, segregated by DLLR into a separate rulemaking and considered independently.”–MBA Senior Vice President of Residential Policy and Member Engagement Pete Mills, in a letter to Maryland regulatory officials on a proposed mortgage servicing transfer rule that potentially interferes with existing federal regulations.

“Rapid increases in interest rates in the last two months of 2016 slowed mortgage activity in the fourth quarter, driving a significant decrease in loan production profits. Mortgage lenders reported a combination of both lower revenues and higher expenses. On the revenue side, secondary marketing income dropped as mortgage lenders wrestled with less favorable pricing and pipeline challenges. At the same time, production expenses per loan rose as fixed costs were spread over fewer loans.”–MBA Vice President of Industry Analysis Marina Walsh.

“Because debt is ‘stickier’ and outstanding loan balances don’t automatically adjust to changes in prices, mortgage debt outstanding remained stable. In the years since, prices bounced back and now exceed their pre-recession levels, while mortgage debt outstanding–which hadn’t declined–rose at a much slower pace. The ratio between the two is now back to where it was before the recession.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“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.