Servicing Newslinks Archive

“The American people rely on a housing finance system that enables them to rent a quality, affordable apartment, buy their first home or build a nest egg to pass on to their children. We owe it to them to proceed with the hard work of reform without delay.”–MBA President and CEO David Stevens, CMB, in testimony June 29 before the Senate Banking Committee.

“The current status quo of conservatorship is not sustainable over the long haul. We’re only one slight downturn away from either entity having to draw on the taxpayers and having people say ‘why the heck didn’t you fix this?'”–Sen. Mark Warner, D-Va., addressing the recent MBA National Advocacy Conference.

“Housing is not a partisan issue. Regardless of who I talk to on Capitol Hill or within the Administration, there is a belief that housing reforms can be passed this year.”–MBA President and CEO David Stevens, CMB.

“We are committed to working with policymakers to strengthen the commercial and multifamily real estate finance system. The $3 trillion commercial and multifamily real estate finance market is an essential part of the economy that provides financing for the properties that house the nation’s businesses and for multifamily rental housing in which 17 million households reside.”–MBA Senior Vice President of Commercial/Multifamily Thomas Kim.

“Delinquency rates for commercial and multifamily mortgages remained at or near record lows for most capital sources during the first quarter. Growth in property incomes and property values, coupled with low interest rates have facilitated financing.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“We should maximize this opportunity to serve the needs of the client-borrower, not just service the loan.”–MBA Chairman Rodrigo Lopez, CMB, speaking at the recent MBA Commercial/Multifamily Mortgage Servicing & Technology Conference.

“Put simply, super-priority statutes allow HOAs to eviscerate first-in-time mortgages often worth hundreds of thousands of dollars to satisfy later-incurred debts typically amounting to a few thousand dollars. Such schemes contravene bedrock principles of property law and threaten to destabilize the real-estate finance system itself. The ultimate consequence of super-priority regimes is less credit for homebuyers because there is less security for lenders.”–From an MBA/trade group amicus brief in support of a Supreme Court review of a Nevada homeowners association “super-lien’ statute.

“We saw an increase in foreclosure starts for the first time since the fourth quarter of 2014, but this increase was accompanied by a sizable drop in loans that were 90 days or more past due. It is likely that legacy distressed loans were held in the late stage-delinquency bucket by factors such as resolution attempts and state-specific requirements, before eventually going into foreclosure status. All 50 states and the District of Columbia saw a decrease in the 90-day or more delinquency rate.”–MBA Vice President of Industry Analysis Marina Walsh.

“Transition will be the key issue. We have to ensure a transition that doesn’t disrupt the market. That’s what makes this such a key challenge. We know the market operates very efficiently right now. There have been a lot of reform over the past eight or nine years, so we want to ensure that there is continuity.”–Robert Ryan, FHFA special advisor and acting deputy director or the division of conservatorship, speaking at the recent MBA National Secondary Market Conference & Expo.

“The teams are on the field and the game is in play; the choice is to either stand on the sidelines and protest or get in the game. MBA plans to get in the game to help craft a solution that works for all lenders, consumers, and the housing finance system. There is no other option but to engage and lead on this subject.”–MBA President and CEO David Stevens, CMB