Servicing Newslinks Archive

“Balancing taxpayer protection, investor returns and consumer costs is critical to realizing a more stable housing finance system going forward.”–From a new MBA paper, GSE Reform: Consumer Costs in a Reformed System, which examines MBA’s plan to build a stable foundation for the secondary mortgage market and how it would impact borrowers in the single-family market.

“The past few years have not been easy for mortgage servicers as they’ve struggled with regulatory and market pressures, but still managed to deliver on customer satisfaction. Now, as that trend starts to shift and customer satisfaction levels off, it is critical that mortgage servicers continue to balance the demands of this tough marketplace with the needs of their customers.”–Craig Martin, senior director of mortgage practice with J.D. Power, Westlake Village, Calif.

“We believe this plan will lead to a more stable system that protects taxpayers while also promoting broad credit availability in a primary market featuring lenders of all sizes and business models. Our plan features a number of provisions specifically designed to protect small and mid-sized lender access to the secondary market.”–MBA President and CEO David Stevens, CMB, in a letter to the Senate Banking Committee supporting GSE reform protections for small and mid-sized lenders.

“By clarifying that private coverage satisfies the continuous coverage requirement, S. 563 and H.R. 1422 will help to make these policies a more viable option for consumers.”–From an MBA/trade group letter urging Congress to pass legislation to modify the National Flood Insurance Program.

“MBA appreciates the CFPB’s efforts in amending the Know Before You Owe rule to address several significant questions that have been raised for some time by our industry. This is an extensive rule and we intend to review it closely with our members.”–MBA President David Stevens, CMB, in a statement following updates on the Know Before You Owe rule issued by the Consumer Financial Protection Bureau on Friday.

“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.