The Mortgage Bankers Association’s Secondary & Capital Markets Conference returns to the New York Marriott Marquis May 21-24.
Category: News and Trends
MBA Letter Addresses Risks to Proposed SEC Rule on Securitizations
The Mortgage Bankers Association, in a Mar. 27 letter to the Securities and Exchange Commission, said a proposed rule to curb certain material conflicts of interest in securitizations is flawed and would present risks to that market.
MBA President and CEO Bob Broeksmit, CMB, on Recent Coverage of Uncertainty in Commercial Real Estate Markets
Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association, issued the following statement on recent coverage of uncertainty in commercial real estate markets:
Homeownership Gender Gap Widening
Women have returned to the workforce in near pre-pandemic numbers, but homeownership remains elusive for those who are single, reported Zillow, Seattle.
Fannie Mae, Freddie Mac Complete 52,469 4Q Foreclosure Prevention Actions
Fannie Mae and Freddie Mac completed 52,469 foreclosure prevention actions during the fourth quarter, raising the total number of homeowners who have been helped to 6.7 million since September 2008, the Federal Housing Finance Agency reported.
‘Four Corners’ States Rank Highest in ‘Safest Places to Live’ Study
CoreLogic, Irvine, Calif., said counties in the ‘Four Corners’ states—Arizona, Colorado, New Mexico and Utah—rank highest in its annual ‘Safest Place to Live’ study, which details the least risky places to live in the U.S. from a natural hazard perspective.
3Q Critical Defect Rate Posts Series High
ACES Quality Management, Denver, said the overall critical defect rate for mortgage underwriting in the third quarter rose to a series high.
Home Flipping at 18-Year High, But Profits Drop Further
ATTOM, Irvine, Calif., reported an increase in home-flipping in 2022, but noted gross profits fell to their lowest point since 2008.
MBA: February Share of Mortgage Loans in Forbearance Decreases to 0.60%
The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance decreased by 4 basis points tp 0.60% of servicers’ portfolio volume as of February 28 from 0.64% in January. MBA estimates 300,000 homeowners are in forbearance plans.
Quote: Tuesday Mar. 28, 2023
“Securitization is a vital component of commercial and residential mortgage lending as it provides access to much needed capital and the ability to effectively manage risk, and the Proposed Rule, as written, is overly broad and could inadvertently stifle the securitization markets and access to capital.”
–from an MBA letter to the Securities and Exchange Commission on a proposed rule that would clarify what constitutes conflicts of interests in securitizations.