Servicing Newslinks Archive

“Lenders consistently tell us that concerns about repurchases limit their willingness to lend, so we’re trying to put those concerns to rest. By pursuing repurchase alternatives and providing clarity on significant defects we aim to help lenders serve the market confidently, efficiently and profitably.” 
–Andrew Bon Salle, executive vice president of single-family business with Fannie Mae.

“Prohibiting Treasury from selling their shares of senior preferred stock in the GSEs will ensure that Congress has the final say in any comprehensive housing finance reform plan. With taxpayers currently backstopping the U.S. housing finance system, the GSEs should not be allowed to recapitalize without congressionally approved reforms in place.”
–From an MBA/trade group letter to House members ahead of a vote on legislation related to Fannie Mae and Freddie Mac.

“A temporary legal safe harbor for lenders will ensure the new requirements are implemented in an orderly manner and that consumers are not confused or, worse yet, impaired in their ability to purchase a home or refinance a loan.”–From an MBA Mortgage Action Alliance Call to Action urging support for House legislation that would give lenders a safe harbor period for compliance with new TILA/RESPA Integrated Disclosure rules. 

“It is important to remember that economic cycles are, by definition, cyclical. The current upturn commercial real estate has been enjoying since 2009 will eventually come to pass and the commercial mortgage-backed securities market can ill afford to forget the tough lessons learned in previous cycles.”–Fitch Ratings Managing Director Huxley Somerville.

“Without getting clarity from regulators we are risking Americans’ access to housing.”
–MBA President and CEO David Stevens.

“We have successfully been working with federal agencies and the GSEs to resolve key issues facing the industry. Restoring certainty and clarity between lenders and the GSEs is critical for the long-term health of the secondary mortgage markets.”
–Mortgage Bankers Association Vice Chairman Rodrigo Lopez, CMB.

“A temporary legal safe harbor for lenders will ensure the new requirements are implemented in an orderly manner and that consumers are not confused or, worse yet, impaired in their ability to purchase a home or refinance a loan.”
–From an MBA Mortgage Action Alliance Call to Action urging support for two bills that would grant lenders a temporary safe harbor under the Consumer Financial Protection Bureau’s TILA/RESPA Integrated Discloaure Rule set to go into effect next month.

“Household formation has been depressed in recent years by a long, jobless recovery and by a lull in the growth of the working age population. Improving employment markets will build on major demographic trends-including maturing of Baby Boomers, Hispanics and Millennials-to create strong growth in both owner and rental housing markets over the next decade.”–MBA Vice President of Research and Economics Lynn Fisher.