Servicing Newslinks Archive

“The commercial mortgage-backed securities market is seeing far more loans paying off and paying down than new loans being originated.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“Housing is one-fifth of the gross domestic product in this country. It should be one of the top five economic platforms of any President’s agenda.” –MBA President and CEO David Stevens, CMB.

“For most capital sources, commercial and multifamily mortgage delinquency rates are near the lowest levels seen during the past 20 years. Strong property fundamentals, rising property values and solid mortgage availability are all supporting these rates.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“This new offering will give borrowers the opportunity to refinance when rates are low, making their mortgages more affordable and thus reducing credit risk exposure for Fannie Mae and Freddie Mac.”–Federal Housing Finance Agency Director Mel Watt.

“In a sense, the Appeals Court is saying that the entire statute is invalid, given its impact on a lender’s constitutional due process rights. This ruling should be very persuasive authority before the Nevada Supreme Court. A federal court demonstrated how the U.S. Constitution is affected by the Nevada statute. If the Nevada Supreme Court comes back and says it concurs with the Appeals Court, countless pending cases will be resolved in federal and state court.”–Scott Nowak, assistant director of state government affairs with the Mortgage Bankers Association.

“Mortgage performance improved again in the second quarter primarily because of the combination of lower unemployment, strong job growth and a continued nationwide housing market recovery.” –Marina Walsh, MBA Vice President of Industry Analysis.

“The backlog of foreclosures from the financial crisis finally appears to be waning and write-offs are returning to historically-normal levels. Rising home values have helped significantly, as have improving labor markets.”–Amy Crews Cutts, senior vice president and chief economist with Equifax.

“MBA appreciates the CFPB’s efforts to update and clarify certain aspects of the ‘Know Before You Owe’ rule. This particular regulation has a big impact on both borrowers and lenders, so it’s important that the Bureau and stakeholders continually reassess the implementation process to ensure its effectiveness. We look forward to commenting on the rule, and continuing to work with the CFPB to gain further clarity in order to improve this and other rules and regulations.”–MBA President and CEO David Stevens, CMB.

“Markets are resilient. But it’s important to have clarity. Markets will adapt to intelligent, well-reasoned regulations and provide innovative solutions.”
–MBA Chairman-Elect Rodrigo Lopez, CMB, at a housing finance event last week at the Republican National Convention in Cleveland.

“If there is going to be a questions about the consumer’s language preference or other approach to help borrowers who lack English proficiency, they should only be proposed after all the relevant agencies have engaged in well-considered policy development and proposed rules for public comment.”–From a letter from 54 House members to the Federal Housing Finance Agency expressing concern over a proposed rule requiring lenders to ask borrowers what language they prefer.