Servicing Newslinks Archive

“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.

“MBA welcomes the release of Chairman [Mike] Crapo’s principles for housing finance reform as a significant sign of his continued commitment to work toward finally ending the conservatorships of Fannie Mae and Freddie Mac and ensuring a stable and liquid market–with an explicit, paid-for government guarantee–for both single-family and multifamily mortgages. MBA looks forward to continuing to engage on a bipartisan basis with congressional leaders, the administration and other key stakeholders on reform efforts to create a system that supports borrowers, serves lenders of all sizes and business models and protects taxpayers.”–MBA President and CEO Robert Broeksmit, CMB.

“Our ongoing efforts on LIBOR transition involve active engagement with interested members, including commercial real estate finance firms and other market participants. Although the expected LIBOR transition is still a few years away, it’s important that market participants begin considering the items presented in the primer. We are grateful to the members on MBA’s Commercial/Multifamily LIBOR Outreach Committee as the industry prepares for what’s next.”–Thomas Kim, MBA Senior Vice President of Commercial Real Estate Finance, on an MBA Primer on changes to LIBOR.

“We are proud to have achieved these positive results for consumers, and we will continue to advocate for sensible steps to keep home financing broadly available to all qualified Americans.”–MBA President and CEO Robert Broeksmit, CMB.

“The Bureau is committed to the financial well-being of America’s service members. This commitment includes ensuring that lenders subject to our jurisdiction comply with the Military Lending Act so our service members and their families are provided with the protections of that law. That’s why I have asked Congress to explicitly grant the Bureau authority to conduct examinations specifically intended to review compliance with the MLA. The requested authority would complement the work the Bureau currently does to enforce the MLA.” –Consumer Financial Protection Bureau Director Kathy Kraninger.

“The outlook for 2019 is certainly both cloudier and blurrier than the outlook a year ago. Housing wealth may have touched new highs this year, but home value gains don’t translate into dollars in the bank account unless homeowners opt to sell or borrow against their home and, in contrast to previous housing booms, many Americans have been more reluctant in recent years to spend against their home’s worth.”–Zillow Senior Economist Aaron Terrazas.