Servicing Newslinks Archive

“Many mortgage lenders are reporting that the past March was their strongest March purchase market ever. We seem to have passed a demarcation line in which most mortgage applications measures have passed the 2007 low point. We see a few markets where home equity still has trouble picking up, but overall the market supports new home building and home price appreciation.”
–MBA Chief Economist Mike Fratantoni

“Delinquencies and foreclosure rates are now at pre-crash levels as the benefits of higher home prices, improving economic fundamentals and years of cautious underwriting are being felt across the country.” –CoreLogic President and CEO Anand Nallathambi.

“MBA believes this approach should provide a swift path to issuing a final rule that will give lenders, the secondary market and consumers the clarity and consistency of disclosures the market needs.”
–Pete Mills, MBA senior vice president of residential policy and member engagement, on a Consumer Financial Protection Bureau announcement that it would clarify provisions of its Know Before You Owe rule.

“It has been our experience that the best prepared lenders are those which establish clear and transparent processes; consult with numerous in-house and third party experts about the regulation, rule or statute, and are willing to adjust and adapt based upon new input.”–Alok Datta, president of ATPR Inc., Dallas.

“There is a need for GSE reform. But we’re not going to get to reform Fannie Mae and Freddie Mac if we don’t work together in the center to find common ground. There are plenty of issues we can find common ground on.”
–Rep. Terri Sewell, D-Ala., speaking at MBA’s National Advocacy Conference.

“Five years after the enactment of Dodd-Frank, enforcement actions present very significant challenges to the residential mortgage industry. Unfortunately, the CFPB has recently appeared to take a ‘regulation by enforcement’ approach, offering industry participants little guidance and simply instituting claims against them–often using new interpretations of old rules.”–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in an MBA letter to the Consumer Financial Protection Bureau.

“There is no question that the profession is in dire need of change in order to survive into the next generation. A shortage of appraisers is currently felt in many rural and lower population communities, and in the coming years this shortage threatens to spread into new markets and become far more severe in existing markets.”–MBA Senior Vice President of Residential Policy and Member Engagement Pete Mills, in a letter to The Appraisal Foundation on ways to attract a new generation of qualified appraisers.

“A strong, sound secondary mortgage market is paramount to the overall success of the real estate finance industry. That is why it is of the utmost importance that policymakers and stakeholders create a strong and stable system that ensures liquidity, affordable mortgage credit and serves consumers.”
–Rodrigo Lopez, CMB, Executive Chairman of NorthMarq Capital Finance and Chairman-Elect of MBA.

“The ability to serve and support sustainable and affordable homeownership has been a core mission of both FHA and lenders across this country. Having the confidence to lend demands clear and reasonable accountability. This has been the goal of all stakeholders.”
–MBA President and CEO David Stevens, CMB.

“Homeownership cannot, and must not, be used as the nation’s piggybank.”
–From an MBA/trade group letter to House and Senate Budget Committee leadership, urging them to resist using Fannie Mae/Freddie Mac guaranty fees to fund other appropriations.