Servicing Newslinks Archive

“Because debt is ‘stickier’ and outstanding loan balances don’t automatically adjust to changes in prices, mortgage debt outstanding remained stable. In the years since, prices bounced back and now exceed their pre-recession levels, while mortgage debt outstanding–which hadn’t declined–rose at a much slower pace. The ratio between the two is now back to where it was before the recession.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“For most investor groups, commercial and multifamily mortgage delinquencies are at or near their all-time lows. Only loans in commercial mortgage-backed securities continue to show elevated levels of delinquencies and loans in foreclosure, as the market continues to work through the large volume of mortgages made during the 2005-2007 time period.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“G-fees are a critical risk management tool used by Fannie Mae and Freddie Mac to protect against losses from loans that default. Increasing g-fees for other purposes imposes an unjustified burden on homeowners who would pay for any increase through higher monthly payments for the life of their loan.”–From an MBA/trade group letter urging support of a House bill that would prohibit use of Fannie Mae/Freddie Mac guaranty fees to offset other budget spending.

“When we talk about housing finance reform, the word ‘reform’ is the key word. The GSEs’ business models can’t be repeated, knowing that they drew $180 billion from the taxpayers…We can wall off the dual goals of meeting taxpayer and investor needs.”–MBA President & CEO David Stevens, CMB, on CNBC’s Squawk Box Feb. 24.

“It is not unexpected that delinquencies could eventually increase off such a low base. We continue to see strong fundamentals in the overall economy, such as rising home values and increased employment, which bodes well for the future performance of FHA, VA and conventional loans.”–MBA Vice President of Industry Analysis Marina Walsh.

“Despite this upward trend over the past five years, the massive loss of home equity during the housing crisis forced many homeowners to stay in their homes longer before selling, effectively disrupting the historical domino effect of move-up buyers that feeds both demand for new homes and supply of inventory for first-time homebuyers.”–Daren Blomquist, senior vice president with ATTOM Data Solutions, Irvine, Calif.

“Today’s paper is intended to provide thoughtful recommendations on how to reform the GSEs while ensuring a healthy, robust secondary mortgage market emerges for both single-family and multifamily mortgages. The U.S. mortgage market requires global capital in order to maintain adequate liquidity through all economic cycles. International and institutional investors will only fill that role if there is an explicit government guarantee on the securities, something that can only be obtained by congressional action.”–MBA Chairman Rodrigo Lopez, CMB.

“MBA has been at the forefront of GSE reform. The conservatorship was never intended as a full time solution. And with a new Administration and a new Congress, we have an opportunity to move the process forward.”–MBA Vice Chairman Chris George.

“Given that lenders have already started preparing for the MIP decrease, it is important that any new policy be implemented in a way that minimizes disruption for borrowers and lenders.”–MBA President and CEO David Stevens, CMB.

“Those who make PACE loans are usually contractors who are not regulated by the SAFE Act. So there is a significant void of consumer protections in the PACE program; we’ve been advocating with HUD and the Department of Energy to step up and either create those protections. We’d like to see this program significantly changed.”–MBA Senior Vice President for Residential Policy and Member Engagement Pete Mills.