Once again, the headline gain in nonfarm payroll employment does not tell the entire story.
Category: News and Trends
MBA Opposes Biden Campaign’s Nationwide Rent Control Proposal
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on President Joe Biden’s campaign proposal to cap rents nationally.
Servicing Quote Tuesday, July 16, 2024
“The Bureau’s proposal represents a substantial overhaul of the current framework, and we hope they will take into careful consideration the recommendations and feedback from our members who are serving millions of borrowers every day.”
–A joint American Bankers Association and Mortgage Bankers Association statement on a new proposed CFPB rule
Clever Real Estate: 98% of Gen Z Sees Significant Barriers to Home Ownership
Clever Real Estate, St. Louis, released a new survey delving into Gen Z’s attitudes and expectations for home ownership, finding that 60% of the generation worries they will never own a home.
In Case You Missed It: A Look at the Second Annual mPact Summit and What’s Next
This spring, more than 100 mortgage industry professionals gathered in Plano, Texas, for a day of learning and networking, largely aimed at young and early-career participants.
Nationwide: A Quarter of Retired Investors Still Paying Off Mortgages
Nationwide, Columbus, Ohio, released its annual Advisor Authority study, powered by the Nationwide Retirement Institute, finding that 26% of retired investors are still paying mortgages and 25% are paying off credit card debt.
MBA-Recommended 203(k) Program Changes Adopted by HUD
HUD released an updated set of policies for its 203(k) Rehabilitation Mortgage Insurance Program, including a number of recommendations the Mortgage Bankers Association had suggested in a Jan. 3 letter.
MBA, ABA Respond to CFPB’s Mortgage Servicing Proposal
The American Bankers Association and Mortgage Bankers Association issued a joint statement in response to the Consumer Financial Protection Bureau’s proposed rule, Streamlining Mortgage Servicing for Borrowers Experiencing Payment Difficulties; Regulation X.
ATTOM Finds Foreclosure Activity Down From a Year Ago
ATTOM, Irvine, Calif., found 177,431 U.S. properties with foreclosure filings in the first six months of 2024, down 4.4% from first-half 2023 but up 7.8% from the same period two years ago.
Dovenmuehle’s Anna Krogh: When Unlocking the Potential of Home Equity, Understanding the Servicing Nuances is Key
Home Equity Lines of Credit (HELOCs) provide a flexible borrowing option for homeowners looking to access their home equity, offering an alternative to traditional cash-out refinances, which homeowners may be reluctant to consider if they’re currently holding a below-market interest rate on their primary mortgage.