Servicing Newslinks Archive

“We’ve reached a tipping point in this housing boom where enough homeowners have regained both sufficient equity and sufficient confidence to tap into their home equity–resulting in a noticeably slower decline in seriously underwater properties and slower growth in equity rich properties.” –Daren Blomquist, senior vice president with ATTOM Data Solutions, Irvine, Calif.

“I recognize that tax reform was the initial priority of this Administration, but we have to be capable of walking and chewing gum at the same time. I’m hopeful that the Administration and the Treasury Department will engage with Congress and move forward with comprehensive housing finance reform.”–Rep. French Hill, R-Ark., speaking at the MBA National Advocacy Conference.

“Data will move faster and be more accurate. What can we learn from it? If we don’t get on the train, it’s going to be over. Whoever can move faster on technology and invest time and effort in technology will succeed.”–Dan Gilbert, founder and chairman of Quicken Loans Inc., Detroit.

“Production profits dropped by almost half in 2017 as rate-term refinancings diminished and the overall average production volume dropped. Production revenues per loan were up slightly for the year, as higher loan balances mitigated the effects of competitive pressures. However, production expenses grew in all categories–sales, fulfillment, production support and corporate.”–MBA Vice President of Industry Analysis Marina Walsh.

“The challenge today is that we have a system with an extraordinary amount of uncertainty in the origination process. One of the things we have to do is look at the burdens imposed on lenders, who must navigate a complex set of compliance and regulatory requirements that remain subject to interpretation. It’s making lenders reluctant to engage in FHA loans.”–MBA President and CEO David Stevens, CMB, speaking at the National Fair Housing Alliance’s National Access to Credit Forum.

“While credit scores play only a limited role in the underwriting process for loans acquired by the Enterprises, their impact on borrower eligibility and loan pricing warrants periodic review. Given that any changes to the existing Enterprise requirements would entail operational challenges that bring with them additional costs, it is important to understand what can be gained from such changes.”–MBA President and CEO David Stevens, CMB, in a letter to the Federal Housing Finance Agency on credit score requirements.

“Production profits plummeted in the fourth quarter of 2017. Purchase volume was lower in the fourth quarter, in part due to normal seasonality. At the same time, there was no substantial pickup in refinancings.”–MBA Vice President of Industry Analysis Marina Walsh.

“Commercial/multifamily mortgage debt outstanding grew at a slightly slower rate than overall property values. Even so, 2017 marked the strongest year for mortgage debt growth since 2007.”–MBA Vice President of Commercial/Multifamily Economics Jamie Woodwell.

“MBA supports S. 2155 and would urge all Senators to vote to preserve the bill’s key elements throughout the amendment process, and, in turn, to vote in favor of the bill’s final passage at the conclusion of the debate. We applaud and appreciate the collective, bipartisan coalition efforts that led to the crafting of S. 2155 (and the substitute amendment), and believe that these outlined portions of the legislation will remove many of the barriers and regulatory burdens that have impacted consumers’ current access to mortgage credit.”–From an MBA letter in support of legislation under consideration by the Senate that would provide relief from regulatory burdens on the real estate finance industry.

“Commercial and multifamily mortgages ended 2017 continuing to perform extraordinarily well. The market tailwinds of strong fundamentals, increasing property values and ready access to mortgage and other credit all put downward pressure on delinquency rates.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.