“MBA has for decades advocated for a bright line between primary and secondary markets,” the letter said. “One aspect of this bright line is that primary market lenders select front-end credit enhancements, while the GSEs structure back-end credit enhancements.”
–MBA President and CEO David Stevens, CMB, in a letter to the Federal Housing Finance Agency.
MBA Newslinks Archive
MBA Newslink Wednesday 10-12-16
“We recognize that the CFPB does important work to protect consumers and that this case is far from settled and expect the government to continue to litigate it. We will continue to fight on behalf of our members, particularly on the RESPA and due process issues, as they go to the heart of a core argument that MBA has been making for several years now–that lenders need clear, consistent and reasonable interpretations of the rules in order to be able to best serve their borrowers and contribute to a smoothly functioning real estate market.”–Mortgage Bankers Association President and CEO David Stevens, CMB, on yesterday’s court decision ruling the Consumer Financial Protection Bureau’s current structure as “unconstitutional.”
MBA Newslink Tuesday 10-11-16
“A low inventory of REO and short sale properties is a sign of a healthy mortgage industry, but also indicates an overall shortage of homes available on the market in the area, as even less desirable homes with potential condition-related issues are moving increasingly quickly off the market.”–Alex Villacorta, Vice President of Research and Analytics with Clear Capital, Reno, Nev.
MBA Newslink Monday 10-10-16
“These gains are consistent with solid consumer spending and housing/construction improvements in the second half of 2016.”
–John Silvia, chief economist with Wells Fargo Securities, Charlotte, N.C., on Friday’s jobs report.
MBA Newslink Friday 10-7-16
“People used to consider paying off their mortgage as the top priority when managing their debt. However, credit cards are increasingly being thought of as the new top priority and because of this, over-purchased consumers are more willing to walk away from their house now than they were in previous years.”–Mark Damon, senior vice president of AutoPilot services with SWBC, San Antonio, Texas.
MBA Newslink Thursday 10-6-16
“The increase in credit availability in September was driven by more investors offering streamlined refinance programs to borrowers with USDA and FHA loans.” –MBA Vice President of Research and Economics Lynn Fisher.
MBA Newslink Wednesday 10-5-16
“We made a decision to make sure that industry action would be one of the cornerstones of what we did as a company. And we really believe that an active, informed employee partner is simply a better employee partner, and that’s held true over the past 15 years.”–Former MBA Chairman Bill Cosgrove, CMB, President & CEO of Union Home Mortgage, Strongsville, Ohio, in an MBANow video promoting involvement in the MBA Mortgage Action Alliance.
MBA Newslink Tuesday 10-4-16
“Over the past several years the industry has done a really excellent job of improving loan quality.”–Stephen Spies, CMB, vice president of loan quality with Fannie Mae, Washington, D.C.
MBA Newslink Monday 10-3-16
“We’re in a market that has great fundamentals. Interest rates remain low; GDP growth is good; unemployment rates remain low and the housing market is picking up, but challenges remain. The housing market could be better, private capital continues to play an outside role and compliance takes up a great deal of lenders’ efforts…the system is clearly still out of balance, and we have a lot of untangling ahead.”–Pete Mills, MBA senior vice president of residential policy and member engagement.
MBA Newslink Friday 9-30-16
“On one hand the government tells us not to lend outside a very prescriptive box,” he said. “On the other hand, lenders are chastised for being too selective. This regulatory confusion significantly increases litigation risk. Through your risk management efforts, you balance these mandates, which are crucial to the health and longevity of our businesses and our industry.”–MBA Vice Chair J. David Motley, CMB.