Category: News and Trends

The Mortgage Bankers Association and 30 industry trade groups sent a letter to Senate leaders urging approval of Michael Bright as Ginnie Mae President.

The Mortgage Bankers Association and 16 other real estate organizations urged Congress to support the bipartisan Invest in America Act (H.R. 6726) recently introduced by Kenny Marchant, R-Texas, and Joseph Crowley, D-N.Y.

The Mortgage Bankers, in a series of letters to federal agencies, offered recommendations to the Federal Housing Finance Agency on its proposed capital requirements for the government-sponsored enterprises (Fannie Mae and Freddie Mac); the FHFA proposed rule on the GSEs’ Uniform Mortgage-Backed Security; and the Office of the Comptroller of the Currency’s proposed rule to revamp the Community Reinvestment Act.

Commercial property market supply and demand fundamentals remained relatively stable in the second quarter, said Moody’s Investors Service, New York.

More than two dozen industry trade groups joined the Mortgage Bankers Association in a letter to House and Senate leaders, urging them to extend the National Flood Insurance Program beyond its latest expiration date (Nov. 30).

A new paper from the Urban Institute, Washington, D.C., said uniform data standards for mortgage servicers would benefit consumers, increase data accuracy, lower risk of errors and offset “skyrocketing” servicing costs.

CoreLogic, Irvine, Calif., said 4 percent of mortgages nationally were in some stage of delinquency in August, the lowest rate since 2006.

TransUnion, New York, said despite slowing mortgage originations, the U.S. home lending market is showing other signs of recovery, with delinquencies dropping every quarter since 2009.

Amazon’s decision to select New York City and Arlington, Va. for its new headquarters properties will affect more than just those areas’ office sectors, analysts say.

MBA President and CEO Robert D. Broeksmit, CMB said policymakers should take a balanced approach to GSE reform to avoid market disruptions and enable a smooth transition.