A little more than a month ago, Rep. Maria Fudge, D-Ohio, voted “yes” to approve the American Rescue Plan, a nearly $2 trillion initiative by the Biden Administration to support the economy. Now, as HUD Secretary, it’s her job to put key provisions of the legislation into action.
Category: News and Trends
#MBASpring21: FHFA Director Calabria on Origination Flexibilities, Lessons Learned
A lot has happened in the past two years, Federal Housing Finance Agency Director Mark Calabria said yesterday at the Mortgage Bankers Association’s Spring Conference & Expo.
#MBASPRING21 Broeksmit: Industry Faces ‘Different Landscape’ in 2021
So, if 2020 was one of the strangest years on record, is 2021 the “hold my beer” year? Mortgage Bankers Association President & CEO says the real estate finance industry is facing a “very different landscape” fraught with potential difficulties.
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“My message to you and the entire industry is one of reassurance: We’ve got your back. The Mortgage Bankers Association was made for this moment. We are uniquely positioned to protect your companies and ensure your continued ability to serve the American people. We proved it in the wake of the Great Recession just over a decade ago. We’re proving it again right now.”
–MBA President & CEO Robert Broeksmit, CMB.
MBA: Share of Mortgage Loans in Forbearance Decreases to 4.50%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 16 basis points to 4.5% of servicers’ portfolio volume as of Apr. 11 from 4.66% the prior week. MBA estimates 2.3 million homeowners are in forbearance plans.
MBA Asks FHFA to Align Actions on Climate Change with Core Principles
The Mortgage Bankers Association recommended the Federal Housing Finance Agency align its actions on climate change and natural disaster risks with a set of core principles to reduce risk.
Trepp: 4Q Bank CRE Loan Data Show ‘Elevated Distress’
The U.S. economy is well into its recovery from the pandemic recession, but Trepp LLC, New York, noted bank commercial real estate loans indicated “elevated distress” in the fourth quarter.
MBA, Industry Groups Urge Use of American Rescue Plan Funds for Renters, Small Businesses
The Mortgage Bankers Association led more than two dozen other industry groups in an Apr. 15 letter to state and local policy associations, urging them to allocate available American Rescue Plan federal funds to assist renters, consumer-facing small businesses and impacted industries that are having trouble paying rents, mortgages or remaining viable enterprises due to the COVID-19 pandemic.
Nick Volpe: A Brief History of Defects; Q3 2020’s Loan Quality Performance Sets Stage for Areas of Concern in 2021
Lenders have a great deal to learn from their post-closing quality control analyses, even more so given the market disruptions and macroeconomic impact of COVID-19.
MBA Mortgage Action Alliance Call to Action Urges Flexibility on GSE Purchase Caps
The Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a Call to Action last week, asking its members contact their members of Congress to allow flexibility in implementation of new purchase caps placed on Fannie Mae and Freddie Mac.