MBA Newslinks Archive

“There’s been a lot of speculation about TRID’s impact and its value to consumers. Consumers who have bought homes and gotten mortgages both the new and the old way suggests that TRID is making it easier for consumers to understand the costs and fees that they’ll face at closing. But at the same time, the new rules are adding time and anxiety to the closing process.”
–Brian Benson, CEO of ClosingCorp, San Diego.

“By preventing g-fees to be used as a funding offset, this budget point of order gives lawmakers a vital tool to prevent homeowners from footing the bill for unrelated spending.”
–From MBA/trade group letters to House and Senate Budget Committee leadership, urging them to prohibit use of Fannie Mae/Freddie Mac guaranty fees for unrelated Fiscal 2017 appropriations.

“Post-funding QC identifies areas of risk and trends to create better sampling for pre-funding QC, which leads to improved loan quality, fewer defects and less risk to the organization.”
–Avi Naider. chairman and CEO of ACES Risk Management Corp.

“Mortgage applications to homebuilder affiliates increased across the board in our survey for February as continued low interest rates and fairly mild weather helped to kick off the spring buying season.”
–MBA Vice President of Research and Economics Lynn Fisher.  

“When first-time home buyers move into homeownership or existing homeowners upgrade to a larger, more expensive home, new debt is created. This trend is finally dominating the accelerated amortization from borrowers paying a little extra each month or paying their mortgages in full, and foreclosure activity is also greatly diminished.”
–Amy Crews Cutts, chief economist with Equifax, Atlanta. 

“As the legacy of the housing crash continues to subside, markets become healthier and more stable in the long run.”
–Alex Villacorta, Vice President of Research and Analytics with Clear Capital, Reno, Nev.

“Today’s corporate real estate executives must balance the new workforce desires with a realistic workplace strategy that brings talent and expense management into simultaneous focus.”
–CBRE Americas Head of Occupier Research Julie Whelan. 

“Today, the lag in recovery can still be seen in states with judicial foreclosure laws, where the foreclosure process can take up to two years.”
–Tom O’Grady, CEO of Pro Teck Valuation Services. 

“Today’s success was a direct product of over a year of advocacy by MBA and its members–whose shoe leather lobbying in the halls of Congress, during the National Advocacy Conference and through the Mortgage Action Alliance, helped build support for this important effort. Put simply, this is what happens when our members partner with MBA in sustained activism.” 
–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, on a House Financial Services Committee markup of legislation that would enable mortgage loan originators to move from one institution to another while working to meet SAFE Act licensing and testing requirements.  

“H.R. 2121 promotes a fair and competitive labor market by eliminating barriers to the ability of non-bank lenders (especially small lenders) to compete for talented staff and allowing MLOs to more easily move to the employer that offers them the best chance to succeed. We urge the full committee to give this common-sense legislation its approval.”
–MBA Chairman Bill Emerson, CEO of Quicken Loans Inc., Detroit, in a letter to House Financial Services Committee members in support of a bill that would provide transitional authority to originate mortgages for individuals who move from a federally insured institution to a non-bank lender while they work to meet SAFE Act licensing and testing requirements. .