Total nonfarm payroll inched up by just 12,000 in October, and the unemployment rate was unchanged at 4.1%, per the U.S. Bureau of Labor Statistics.
Category: News and Trends
MBA White Paper: Reforms Needed to RESPA Section 8 to Better Serve Consumers, Mortgage Market
Comprehensive reforms are necessary to modernize Section 8 of the Real Estate Settlement Procedures Act (RESPA) to better serve consumers and the real estate finance industry in today’s highly-regulated mortgage market. That is according to a new white paper from the Mortgage Bankers Association.
New MBA Chair Laura Escobar to Focus on Supply, Affordability, Education
DENVER–Laura Escobar, the new Mortgage Bankers Association Chair for 2025, took to the stage at MBA’s Annual Convention & Expo Oct. 28, letting the crowd know that she is “here for the people.”
MBA’s Bob Broeksmit: MBA Ready to Act, No Matter Election Outcome
DENVER–Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, said no matter how the election shakes out next week, MBA is ready to take action for its members.
MBA Statement on FHFA Updates on Loan Repurchases, Appraisals, and Pricing
DENVER–MBA President and CEO Bob Broeksmit, CMB, issued the following statement on the Federal Housing Finance Agency (FHFA) announcements on loan repurchases, appraisals, and pricing at MBA’s 2024 Annual Convention and Expo:
FHFA Announces Updates on Repurchases, Appraisals, Pricing at Annual24
DENVER–The Federal Housing Finance Agency’s Naa Awaa Tagoe, Deputy Director, Division of Housing Mission and Goals, announced a series of updates at the Mortgage Bankers Association Annual Conference & Expo Oct. 28.
SingleSource Property Solutions’ Ed Austin: Take 2020’s Lessons to Heart And Get Refi-Ready Now
When the COVID-19 pandemic arrived in 2020, the Federal Reserve’s response was swift and its impact on the housing market was dramatic. Millions of homeowners rushed to refinance, sometimes more than once. But for the industry, a golden opportunity also became a logistical nightmare.
Servicing Quote of the Week
“We are bullish about the spring 2025 housing market. Mortgage rates at this level should support homebuyer demand and gradually reduce the lock-in effect, thereby increasing the inventory of existing homes and supporting higher purchase origination volume in 2025.”
–Mike Fratantoni, MBA Chief Economist and Senior Vice President for Research and Business Development
MBA Forecast: Mortgage Originations to Increase 28% to $2.3 Trillion in 2025
DENVER–The Mortgage Bankers Association announced at its 2024 Annual Convention & Expo that total mortgage origination volume is expected to increase to $2.3 trillion in 2025 from the $1.79 trillion expected in 2024.
Astrid Vermeer Joins MBA as Senior Vice President, Chief Financial Officer
The Mortgage Bankers Association announced that Astrid Vermeer joined the association as Senior Vice President, Chief Financial Officer. Vermeer will oversee MBA’s managerial accounting and financial operations, including financial reporting, budgeting, forecasting, and risk management.