Servicing Newslinks Archive

“After 12 consecutive years of declines that affected all population segments, the Hispanic segment helped pull the nation out of a devastating housing recession in 2015 when it became the first ethnic demographic to show an increase to its post-recession homeownership rate. Hispanics have been the only ethnic demographic group to raise their homeownership rate in each of the past four years.”–Marisa Calderon, Executive Director of the National Association of Hispanic Real Estate Professionals.

“Fannie Mae and Freddie Mac have been in conservatorship for more than a decade and it’s well past time that policymakers address the long-term future of these enterprises. As both administrative and legislative reforms move forward, it is important that the regulator and Congress support ongoing liquidity and stability and ensure that the private market is capable of sustaining an expanded role before steps are taken to modify the GSEs’ footprint.”–MBA President and CEO Robert Broeksmit, CMB.

“The 2008 financial crisis exposed fundamental problems in the GSEs’ business models, as well as weaknesses in the regulatory framework. Ten years later, we have still not determined how or if the GSEs will be permanently reformed. Only by enacting comprehensive legislative reform can we provide the confidence necessary for a stable, sustainable and inclusive mortgage market.”–MBA President and CEO Robert Broeksmit, CMB, in testimony yesterday before the Senate Banking Committee.

“MBA’s investment will provide seed funding to accelerate the development of initiatives.” –MBA Chairman Chris George, on MBA’s $2 million investment in MISMO.

“Last year recorded the largest annual increase in commercial and multifamily mortgage debt outstanding since the Great Recession, and the largest increase in multifamily mortgage debt on record. Growth in multifamily mortgage debt made up almost half the total increase in debt outstanding, and Fannie Mae, Freddie Mac and FHA collectively accounted for two-thirds of the multifamily growth. The GSEs, life insurance companies, the CMBS market and banks all increased their holdings of commercial and multifamily mortgage debt during the year.”–MBA Vice President of Research & Economics Jamie Woodwell.

“The Consumer Financial Protection Bureau has shown an admirable willingness to listen to stakeholder concerns about how it can improve both its own practices and the regulations it is tasked with enforcing. The recommendations laid out in this Roadmap will further strengthen CFPB’s policies and ensure that all consumers are treated fairly and equally and have access to the quality sustainable products they deserve.”–MBA President and CEO Bob Broeksmit, CMB.

“A well-functioning housing finance system should provide consistent, affordable credit to borrowers across the nation and through all parts of the credit cycle without putting taxpayers at risk of a bailout.”–from an MBA-led coalition in a letter to acting Federal Housing Finance Agency Director Joseph Otting on the need for comprehensive secondary mortgage market reform.

“Alignment of servicing standards across loans, investors and guarantors is desperately needed. It’s creating confusion for you and your customers, and increasing your costs.”–MBA President and CEO Bob Broeksmit, CMB.

“With the unemployment rate near 50-year lows, wage growth trending higher and household debt levels relative to disposable incomes at 35-year lows, homeowners are in great shape, and mortgage performance is quite strong.” –Marina Walsh, MBA Vice President of Industry Analysis.

“The upcoming roll of commercial and multifamily mortgage maturities is relatively stable, after seven years of instability. Many commercial and multifamily mortgages have 10-year terms, and a decade ago, the Great Recession meant fewer new loans were being made. As a result, 2018 and 2019 loan maturity volumes have been smaller than would otherwise be the case. However, a sizable share of shorter term loans financed in the last few years have made up the difference.”–MBA Vice President for Commercial Real Estate Research Jamie Woodwell.