MBA Newslinks Archive

“We thought Barack Obama was brilliant for harnessing the power of Facebook–and then Donald Trump harnessed the power of Twitter.”–John Harris, Co-Founder and Editor-in-Chief of Politico.

“We believe that the best course of action is for USDA to remove the existing interest rate cap and instead allow market forces to dictate interest rates and other pricing terms. Should USDA find evidence of higher financing costs following implementation of this recommendation, MBA would support further efforts to develop a regulatory response that protects the interests of consumers.”–MBA Senior Vice President of Public Policy and Industry Relations Stephen O’Connor, in an MBA letter to USDA recommending the interest rate cap on RHS Section 502 Single-Family Housing Guaranteed Loan Program loans be eliminated.

“No matter who sits in [Congress], housing is not a partisan issue. MBA is leading the way in fostering this bipartisan cooperation. Our job–MBA and our members–is to connect with and educate all regulators and legislators, regardless of party, to get the job done and ensure a vibrant real estate market.”–MBA President and CEO Robert Broeksmit, CMB.

“We urge the subcommittee to create asecure, fully integrated and cost-effective B2G solution that can operate in our dynamic economy and protect against evolving threats. Our member institutions support a streamlined process that promotes efficiency while minimizing the burden on participants.”–From an MBA/trade group letter asking a House subcommittee to support measures to improve IRS security protocols.

“Last month’s 8.2 percent annualized gain in purchase applications points to continued demand for new homes. Housing demand is still strong even as mortgage rates increase, and as a result, we’re still forecasting for modest growth in purchase origination volume in 2018.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

“Small business owners and the self-employed, who represent up to 30% of the labor force (and growing), should not face unnecessary obstacles to homeownership. As the industry develops new, innovative, responsible methods of underwriting that are supported by technological advances, a more dynamic regulatory framework is needed to keep pace.” –MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in an MBA “Call to Action” on legislation that would create more opportunities for non-traditional mortgage borrowers.

“With the national unemployment rate remaining below 4 percent since July, further declines in U.S. delinquency rates are likely in coming months. The exception will be in local areas impacted by natural hazards or a rise in unemployment. The destruction of homes and disruption to local commerce caused by natural disasters lead to a subsequent spike in local delinquency rates, even for homes that were untouched.”–CoreLogic Chief Economist Frank Nothaft.

“Although the situation in the Carolinas continues to evolve as we speak, we are beginning to get a sense of the potential scope of the storm’s impact from a mortgage performance aspect. As those affected by the storm begin recovery efforts, recent history suggests many will have some difficulty remaining current on their mortgages.”–Ben Graboske, executive vice president of Black Knight’s Data & Analytics division.

“Credit availability moved lower in September, as tightening in the government index offset an increase in conventional credit availability. The decline in government credit was driven by fewer streamline offerings as well as a decline in loan programs with lower credit requirements.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

“Lack of clear guidance in these areas in the proposed regulations will result in inconsistency, and therefore confusion for taxpayers who ‘need certainty in determining whether their trade or business generates income that is eligible for the section 199A deduction. Moreover, given that mortgage banking companies organized as pass-through entities compete directly in the real estate finance market with C corporations, the lack of clarifying guidance will result in a competitive imbalance that is squarely inconsistent with the very reason that section 199A was enacted.”–MBA President and CEO Robert Broeksmit, CMB, in a letter to Treasury/IRS regarding a proposed rulemaking clarifying the definition of business income deductions under Section 199A of the Internal Revenue Code.