Tag: Quote

“The number of loans in forbearance increased in June for the first time since October of 2022.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis

“The Bureau’s proposal represents a substantial overhaul of the current framework, and we hope they will take into careful consideration the recommendations and feedback from our members who are serving millions of borrowers every day.”
–A joint American Bankers Association and Mortgage Bankers Association statement on a new proposed CFPB rule

“Inflation data showing more reductions for the next couple of months will be the most important evidence that the Federal Reserve needs to cut rates in September.” 
–MBA SVP and Chief Economist Mike Fratantoni

“A core focus of MBA’s advocacy is educating policymakers on the exhaustive change management practices servicers must make to implement new policies.” 
–MBA President & CEO Bob Broeksmit, CMB

“The performance of servicing portfolios in May was solid, with about 96% of borrowers making their mortgage payments on time.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis

“Since the implementation of NSPIRE in October, servicers have experienced difficulties logging into the system, scheduling inspections, maintaining inspection schedules and reviewing reports.”
–MBA President and CEO Robert D. Broeksmit, CMB

“Home equity is key to mortgage holders who have seen other homeownership costs soar, including insurance, taxes and HOA fees, as a source of financial buffer.”
–Selma Hepp, CoreLogic Chief Economist

“Predictions of a huge spike in foreclosures after the moratorium, with the potential for a surge in zombie properties, never came true. Indeed, the opposite has happened, as abandoned homes in foreclosure continue to get harder and harder to find around the country.”
–Rob Barber, CEO for ATTOM

“Servicing profitability also improved, given low prepayment activity and preservation of servicing values. Including both the production and servicing business lines, close to 60% of mortgage companies were profitable in the first quarter of this year–the highest level in eight quarters.” 
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis

“The number of loans in forbearance has remained stagnant for the first four months of 2024.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis