MBA Newslinks Archive

“Millennials are now buying homes. They done what they’ve said-the graduated from college; they paid down some of their student loan debt; they’ve gotten married, albeit later than usual; and now they’re starting to buy homes.”–Fannie Mae Chief Economist Doug Duncan.

“We cannot let Washington ignore the warning signs again. Do not repeat the past. We have the power right now to protect our system. We must act now to ensure the stability of our homes, our neighborhoods and our economy. We have a duty, a responsibility to take the right preventative measures now to protect the entire system from fault line catastrophe. Stabilizing and securing the secondary market through appropriate reforms and protections, will provide the rock-solid foundation our economy so desperately needs.”–MBA President & CEO David Stevens, CMB.

“Pam is exceptional choice. Personally, I have worked with her for a number of years and she is exactly the kind of leader who will help support the secretary and also address the critical issues ahead for HUD. She has a well-informed understanding of the agency, and essential technical knowledge of the real-estate finance industry. I would encourage the Senate to move swiftly in confirming her nomination.”–MBA President and CEO David Stevens, CMB, on the Trump Administration’s nomination of Pamela Hughes Pantenaude as HUD Deputy Secretary.

“The lack of homes listed for sale is causing unadjusted house price growth to remain strong. Additionally, increasing interest rates are reducing consumer purchasing power. The result is a substantial year-over-year increase in the real price of homes.”–Mark Fleming, chief economist with First American Financial Corp., Santa Ana, Calif.

“As the rule currently stands, banks are hindered in their ability to provide this financing. Through clarification from legislation, they will be able to better meet the needs of their borrowers, contributing to the greater overall commercial real estate finance ecosystem.”–MBA Chairman Rodrigo López, CMB, on introduction yesterday of bipartisan legislation that clarifies and amends parts of Basel III high-volatility commercial real estate banking regulation.

“There are still relatively few existing homes listed for sale and the small 3.8 month supply is supporting the recent price increases. Housing affordability has declined since 2012 as the pressure of higher prices has been a larger factor than stable to lower mortgage rates.”–David Blitzer, Managing Director and Chairman of the Index Committee with S&P Dow Jones Indices, New York.

“PACE loans are–in substance–consumer loans secured by real property and should be subject to federal consumer protection requirements, not dependent on a patchwork of limited or non-existent state/municipal laws that do not adequately protect homeowners.”–From MBA/trade group letters to House and Senate sponsors of bills that would put Property Assessed Clean Energy loans on a par with other mortgage products.

“The first quarter of 2017 shows strong start to home buying season. While inventory remains low, the pace of existing home sales is relatively steady…These promising numbers bode well for this rest of home buying season, showing that demand remains high despite the headwinds in the market.”–Cheryl Young, senior economist with Trulia, San Francisco.

“This paper not only lays out a detailed end state solution that will work for the residential and multifamily markets, but also the transition steps to accomplish this goal. We look forward to working with Congress and the Administration to find a permanent, sustainable solution to the government’s role in housing finance that doesn’t repeat the mistakes that led to the crisis.”–MBA Chairman Rodrigo Lopez CMB.

“A tremendous amount of effort went into Version 3.3, which was developed at a time when lenders were going through significant regulatory changes…Their hard work resulted in a model that lenders are able to rely on to implement new regulatory changes and other mandates.” –Randy Poirier, Vice President of Data Solutions with Black Knight Financial Services, Jacksonville, Fla., and chair of MISMO’s Residential Standards Governance Committee.