MBA Newslink Friday 9-25-15

“When you’re in a bubble, you never know it. But, if you pick the strong private equity sponsors and the good locations, and do your homework on the underwriting, you’re better prepared if there is some kind of shock to the system.”
–Matt Galligan, president of CIT Real Estate Finance, New York.

MBA Newslink Thursday 9-24-15

“Florida has some of the most improving housing markets in the country, largely a reflection of more borrowers becoming current on their mortgage payments as the local employment picture improves and house prices rebound. However, we’ve started to see these housing markets turn around, especially in Pennsylvania, Connecticut, New Hampshire, Vermont and Maine.”
–Freddie Mac Chief Economist Len Kiefer.

MBA Newslink Wednesday 9-23-15

“We saw significant rate volatility last week surrounding the Federal Open Market Committee meeting, and rate declines toward the end of the week likely drove applications from both prospective home buyers and borrowers looking to refinance.”
–MBA Chief Economist Mike Fratantoni. 

MBA Newslink Tuesday 9-22-15

“Driven by increasing property values, improving property fundamentals and still low interest rates, commercial and multifamily lending and borrowing continued its strong pace in the second quarter.” –MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

MBA Newslink Monday 9-21-15

“We continue to expect that rates will trend up over the medium term. Mortgages rates, which have been just above 4 percent recently, are likely to end 2015 closer to 4.3 percent, and could reach 5 percent by the end of 2016.”–MBA Vice President of Research and Economics Lynn Fisher. 

MBA Newslink Friday 9-18-15

“The FOMC statement, which provided more definitive guidance stating that an increase will likely occur later this year, should help to reduce recent market volatility, which has been caused by the significant uncertainty about the Fed’s decision at this September meeting,.”
–Mortgage Bankers Association Chief Economist Mike Fratantoni.  

MBA Newslink Thursday 9-17-15

“Home builders continue to feel optimistic about overall market fundamentals. The slight decrease in future sales is likely due to uncertainty about Fed policy and the global economy.”
–Mark Vitner, senior economist with Wells Fargo Securities, Charlotte, N.C.

MBA Newslink Wednesday 9-16-15

“The unintended impact of this proposed g-fee increase extension will be to keep housing consumers on the sideline, preventing the absorption of our nation’s large real-estate owned inventory, as well as curtailing refinance activity that is needed to keep creditworthy borrowers in their homes.”
–From an MBA/trade group letter to Congress urging rejection of an increase of Fannie Mae/Freddie Mac credit guaranty fees to fund highway programs.

MBA Newslink Tuesday 9-15-15

“Not only are Suspicious Activity Reports generating leads, but they are also helping us build cases. SARs also represent intelligence; they provide us with leads; they help us develop new sources; and they provide support to other active cases.”
–Special Agent Kevin Damuth of the Financial Institution Fraud Unit with the Federal Bureau of Investigation.

MBA Newslink Monday 9-14-15

“You have to think as much out of the box as the fraudsters. One thing is for sure–the fraud of today is not going to look like the fraud of tomorrow.”
–Charles La Bella, deputy chief of the fraud section with the Department of Justice.