MBA Newslinks Archive

“We are currently experiencing the best real estate returns since the bottom in July of 2012 when prices rose at a 5.9% real annual rate. Given history, this trend is unlikely to be sustained.”–David Blitzer, Managing Director and Chairman of the Index Committee with S&P Dow Jones Indices, New York.

“Low rates, combined with recent meaningful income gains, fueled an increase in consumer house-buying power, meaning affordability is at a quarter-century best. Even as interest rates increase above 4 percent post-election, housing, on a purchasing-power adjusted basis, will continue to be more affordable than it was in the early 1990s.”–Mark Fleming, chief economist with First American Financial Corp., Santa Ana, Calif.

“[The increase] reflects the reality that we are in an improving housing market driven by an improving economy.”
–MBA President and CEO David Stevens, CMB, on the Federal Housing Finance Agency’s decision to raise conforming loan limits next year.

“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.