MBA Newslink Tuesday 3-29-16

“These new records mean we’re no longer making up ground lost during the housing recession–we’re laying a new path forward, based on demand for housing and economic growth throughout the economy. In some markets, these new highs are a return to normalcy. The fact that other markets are still off by double digits may not mean those markets are far from being recovered. It just highlights how extraordinarily inflated home values had been during the housing bubble.”
–Zillow Chief Economist Svenja Gujdell.

MBA Newslink Monday 3-28-16

“A strong, sound secondary mortgage market is paramount to the overall success of the real estate finance industry. That is why it is of the utmost importance that policymakers and stakeholders create a strong and stable system that ensures liquidity, affordable mortgage credit and serves consumers.”
–Rodrigo Lopez, CMB, Executive Chairman of NorthMarq Capital Finance and Chairman-Elect of MBA, announcing creation of the MBA Task Force for a Future Secondary Market.

MBA Newslink Friday 3-25-16

“MBA Opens Doors is thrilled to partner with the TCS New York City Marathon as an official charity partner. The TCS New York City Marathon provides a dynamic platform for our dedicated charity runners to raise significant funds and increase awareness for important causes that are special to them. We are looking forward to supporting and celebrating our runners, as they undertake this rewarding journey on behalf of families trying to keep their home while caring for a hospitalized child.”
–Debra Still, CMB, chairman of the MBA Opens Doors Foundation, which announced a partnership this week with the 2016 New York City Marathon.

MBA Newslink Thursday 3-24-16

“For now, it appears that default volume is not resurging any time soon, so there is continued pressure on both servicers and providers to do more with less internally, while remaining within the framework of intensified regulatory scrutiny.”
–Denis Brosnan, president and CEO of DIMONT, Dallas.

MBA Newslink Wednesday 3-23-16

“Given the impact of aging on memory and other cognitive skills, there is a need to consider the implication for financial decisions made by older individuals. By the time individuals are arriving into traditional retirement ages, when many important financial decisions are made, cognitive skills are already in decline as part of normal cognitive aging.”–Gary Englehardt, professor at Syracuse University and author of a Research Institute for Housing America paper on how cognitive decline impacts older Americans’ housing behavior.

MBA Newslink Tuesday 3-22-16

“SCRA provides the brave men and women of our military with the certainty they won’t lose their home when they transition back to civilian life. That’s something that should never happen. Our industry is committed to helping members of the military stay in their homes and we are grateful Congress has renewed this vital homeownership tool.”
–MBA President and CEO David Stevens, CMB, following House passage of a bill extending the Servicemembers Civil Relief Act through 2017.

MBA Newslink Monday 3-21-16

“Whether they made their money lobbying lawmakers at the Capitol or cashed in on a tech IPO, rich millennials are clustered in cities where there are lots of high-paying professional jobs. Tech hubs made the list, but young people are doing well in older job markets, too.”–Emily Heffter, researcher for Zillow Inc., Seattle.

MBA Newslink Friday 3-18-16

“With many economists expecting interest rates to rise over the next few years, MBA anticipates that the number of assumption requests will grow as well. Yet, certain FHA guidelines surrounding assumptions have not been updated since the mid-1980s, making it virtually impossible for lenders to recover the actual costs that are incurred while processing them.–MBA Senior Vice President Residential Policy and Member Engagement Pete Mills, in a letter to FHA urging the department to update its loan assumption guidelines.

MBA Newslink Thursday 3-17-16

“Lending for new residential development has increased and steady gains in household formation have cut the number of vacant homes for sale or rent. The number of homes under construction around the country has steadily edged higher over the past year. Apartment projects had accounted for much of the gain in previous years. The momentum now appears to be shifting toward single-family construction.”
–Mark Vitner, senior economist with Wells Fargo Securitiets, Charlotte, N.C.

MBA Newslink Wednesday 3-16-16

“The ability to serve and support sustainable and affordable homeownership has been a core mission of both FHA and lenders across this country. Having the confidence to lend demands clear and reasonable accountability. This has been the goal of all stakeholders.”
 –MBA President and CEO David Stevens, CMB.