MBA Newslinks Archive

“Purchase volume increased sharply for the week compared to both last week, which included the Veteran’s Day holiday, and last year, with purchase volume up more than 11 percent on a year-over-year basis.”–MBA Chief Economist Mike Fratantoni

“You have to have top leadership involved. It comes down to having your executive leadership at the front.”–Niki Scott, Executive Vice President and National Retail Production Manager with SunTrust Mortgage, at the MBA Summit on Diversity and Inclusion.

“We are honored that we can dedicate this amount to a core mission of MBA’s diversity and inclusion efforts. Interest for this conference continues to increase, which was one of the main reasons we were able to support the Path to Diversity & Inclusion Scholarships.”–J. David Motley, CMB, Chairman of MBA’s Diversity and Inclusion Committee and MBA Chairman-Elect.

“We know our demographics are changing. A more diverse workforce better reflects your customers; enhancing the possibility of effective communication and service; leads to broader ideas and better decision-making and ultimately success.”–MBA Chairman-Elect J. David Motley, CMB, Chairman of the MBA Diversity & Inclusion Committee and President of Colonial Savings FA, Fort Worth, Texas.

“Retaining this deduction beyond 2016 will greatly benefit the large number of homeowners, particularly first time home buyers, who cannot afford a 20 percent or greater down payment and who use mortgage insurance in order to purchase a home.”–From an MBA/trade group letter urging Congress to approve a series of “tax-extenders” provisions that would benefit homeowners and home buyers.

“An important subtext to this report is the continued volatility in the HECM book of business, which this year turned negative, dragging down the overall value of the MMIF. Given the importance of FHA to low and moderate income and first time homebuyers, the next administration may want to look at accounting for the two programs individually in order to isolate the critically important forward book from the wild swings of the HECM fund.”–MBA President and CEO David Stevens, CMB, on HUD’s annual report on the health of the FHA Mutual Mortgage Insurance fund.

“Borrowers applying for modifications in 2017 may find greater ease in the documentation gathering process and faster approval/decline decisions. However, features of proprietary modifications differ across servicers and this can be further impacted by approaches taken by the investors in the loans.”–Fitch Ratings Managing Director Roelof Slump.

“Mortgage delinquency and foreclosure rates continued to decrease in the third quarter as sustained job growth and low unemployment helped more borrowers stay current with their mortgage payments.–MBA Vice President of Industry Analysis Marina Walsh.

“Today our industry is operating in the safest and soundest lending environment ever designed. MBA will work with President-Elect Trump and his Administration, as well as with the new Congress, with the goal of advancing an agenda that restores housing as a lead economic driver for individual wealth creation and the nation as a whole.”
–MBA President and CEO David Stevens, CMB, on the election of Donald Trump as the 45th President of the United States.

“The decline in foreclosures is one of the drivers in the drop in vacancies, which is positive for homeowners and communities. Heading into 2017 we see that prices, performance and production–the three most important drivers of the real estate market–are all improving.”–Anand Nallathambi, president and CEO of CoreLogic, Irvine, Calif.