Category: News and Trends

Servicing Quote Tuesday, Sept. 10, 2024

“As policymakers and elected officials consider options, MBA is leaving no stone unturned to maximize the potential of existing programs that can help narrow the gap between supply and demand. For example, we have been instrumental in bringing about a needed update and expansion of the FHA 203(k) loan program, which enables homebuyers to finance the cost of a home purchase and simultaneous renovation of that home with funds borrowed based on the after-renovation (i.e., future) value of the house.”
–MBA President & CEO Bob Broeksmit, CMB

| By MBA NewsLink Staff

ATTOM IDs Areas With Highest Concentration of ‘At-Risk’ Markets

ATTOM, Irvine, Calif., released a Special Housing Risk Report, highlighting that California, New Jersey/New York and Illinois are the areas with the most at-risk housing markets in the country, meaning they are more vulnerable to declines based on home affordability, underwater mortgages and other metrics.

| By MBA NewsLink Staff

142,000 Jobs Added in August, Unemployment Rate Stagnant

The U.S. Bureau of Labor Statistics released jobs data from August, finding that total nonfarm payroll enrollment increased by 142,000. The unemployment rate changed little at 4.2%.

| By Anneliese Mahoney

Chart of the Week: Payroll Growth and Unemployment Rate

The August employment report confirmed that the job market is cooling. With a 142,000 job increase in August and downward revisions of the June and July numbers, job growth has slowed to an average of 116,000 jobs over the past three months.

| By MBA NewsLink Staff

Servicing Quote Tuesday, Sept. 3, 2024

“FHFA and the enterprises will continue to engage with stakeholders to support both tenants and housing providers as these policies take effect in February 2025.”
–Federal Housing Finance Agency Director Sandra L. Thompson on the new protections for renters

| By MBA NewsLink Staff