Servicing Newslinks Archive

“MBA and its members are committed to serving all borrowers in a safe and sustainable manner–including those with limited English proficiency. While we continue to have significant reservations about including a language preference question on the URLA, we appreciate the modest improvements FHFA has made in response to industry feedback and concerns about the GSEs’ consumer testing.”–MBA Senior Vice President for Residential Policy and Member Engagement Pete Mills, in response to a Federal Housing Finance Agency announcement including a question on Limited English Proficiency in its Uniform Residential Loan Application.

“We firmly believe that Congress and the administration have a ‘once-in-a-generation’ opportunity to overhaul the tax code in a manner that will spur long-term economic growth, create jobs and place more money in the pockets of hard-working Americans.”–MBA President and CEO David Stevens, CMB, in a letter to House, Senate and Administration leaders.

“Hacking is easy. Personal information is cheap and you don’t even have to go on the Dark Web to buy it.”–Christa Lynn Greco, intelligence analyst in the criminal investigative division with the Federal Bureau of Investigation.

“We’re going to see loans continue to be processed the traditional way, but we’re also going to increasingly see use of these new methods, because it’s what lenders and customers are demanding.”–Jude Landis, vice president of credit policy and risk management with Fannie Mae, Washington, D.C.

“We urge Treasury, FHFA and Congress to remain focused on addressing the long-term housing finance reform efforts necessary to end GSE conservatorship permanently and create a stronger, stable system for the future that helps ensure all in America have access to affordable housing opportunities.”–from an MBA/trade group letter to Administration officials on GSE reform.

“The Consumer Financial Protection Bureau’s reluctance to issue clear guidance on the laws it inherited, such as the Real Estate Settlement Procedures Act, has resulted in a confused, uneven market that actually narrows consumers’ access to sustainable credit. Now is the time to look back at what has been learned over the past five years and make some key changes that will help consumers and the industry alike.”–MBA President and CEO David Stevens, CMB.

“To reform and strengthen the secondary mortgage market, the most effective goals will be those that include both specific, quantitative outcomes based on loans made to distinct borrower/market segments and qualitative efforts, such as outreach, research and targeted initiatives. These differing types of goals should be pursued in tandem and should complement each other.”–MBA President and CEO David Stevens, CMB.

“The entire mortgage industry is working around the clock to identify homeowners in the affected areas who are in need of assistance or who have questions about their property, payment status or loans. We are encouraging any homeowner who is unsure of their situation to immediately contact their lender or servicer as well as their hazard or homeowners insurance provider.”–MBA President and CEO David Stevens, CMB.

“The employment outlook continues to support loan performance. Monthly job growth topped 200,000 jobs in June for the fourth time in the first six months of the year. Job growth in the month of July also topped 200,000. Possible factors that could influence a directional change include rising loan-to-value and debt-to-income ratios for certain product types, as affordability is stretched by tight inventory and rising home prices, and normal loan aging.”–MBA Vice President of Industry Analysis Marina Walsh.

“An increasing number of U.S. homeowners are amassing impressive stockpiles of home equity wealth, enjoying the benefits of rapidly rising home prices while staying conservative when it comes to cashing out on their equity.”–ATTOM Data Solutions Senior Vice President Daren Blomquist.