MBA Newslinks Archive

“With strong market fundamentals and 10-year loans made during 2006 and 2007 maturing this year and next, lenders also anticipate strong demand from borrowers.”
–MBA Vice President for Commercial Real Estate Research Jamie Woodwell. 

“Lenders are getting savvier, no doubt. They are checking and using data earlier in the loan lifecycle to detect risk and ensure investor compliance. In response to GSE loan data initiatives, lenders are gathering and checking data using third-party tools such as income validation tools, AVMs, collateral valuation management and appraisal risk scoring tools, and systems that review data compliance prior to portal submissions.”  
–Chuck Rumfola, senior vice president with Veros Real Estate Solutions, Santa Ana, Calif.

“Renters in 2016 will be caught between a bit of a rock and a hard place, with rents becoming less affordable as they rise faster than wages, but home prices rising even faster than rents. In markets where home prices are still relatively affordable, 2016 may be a good time for some renters to take the plunge into homeownership before rising prices and possibly rising interest rates make it increasingly tougher to afford to buy a home.”
–Daren Blomquist, vice president with RealtyTrac, Irvine, Calif.

“Our examiners will be squarely focused on whether companies have made good faith efforts to come into compliance with the rule. All of the regulators have indicated that their examinations for compliance in the first few months of implementing the new rule will be corrective and diagnostic, rather than punitive.” 
–Consumer Financial Protection Bureau Director Richard Cordray, in response to an MBA letter over concerns regarding implementation of its RESPA/TILA Integrated Disclosure rule.

“Asset prices in top-tier cities are through the roof. These magnets for global investment capital have pulled out all stops on price appreciation.”–Randy Fuchs, principal with Boxwood Means, Stamford, Conn. 

“With taxpayers currently backstopping the U.S. housing finance system, the GSEs should not be allowed to recapitalize without congressionally approved reforms in place.”
–From an MBA/trade group letter urging House support of a bill that would prohibit use of Fannie Mae/Freddie Mac assets in the congressional appropriations process.

“Mortgage performance for the third quarter improved yet again as the rate at which new foreclosures initiated dropped to the lowest level in 10 years and as overall delinquencies and foreclosure inventory rate declined.”–MBA Associate Vice President of Economic Forecasting Joel Kan.

“Rental appreciation has started to slow down in part due to more rental supply. Many of the bigger multifamily rental projects that were begun a couple years ago in cities nationwide are finally starting to open for occupancy, easing pressure on rents somewhat.”
–Zillow Chief Economist Svenja Gudell.

“Rising student debt levels and payment burdens among young renters are likely to impact this group’s long-term finances and their decisions to transition to homeownership. Delinquency and default can harm the ability of young renters to access low-cost credit and qualify for a home-purchase mortgage. Furthermore, student loan payments reduce young renters’ discretionary income and can delay the accumulation of savings toward a down payment on a home.”
–Irene Lew, research assistant with the Joint Center for Housing Studies at Harvard University.

“Growth in the renter segment will most likely occur through multifamily properties as more than half of those currently renting single-family properties are planning to become homeowners in the near future. Single-family renters are increasingly more dissatisfied than multifamily renters.”–David Brickman, Freddie Mac executive vice president of multifamily.