Tag: Quote

“While we are seeing a decrease in foreclosure starts and repossessions, it’s crucial to remain vigilant, as any economic disruptions or changes in interest rates could shift the current trend.”
–ATTOM CEO Rob Barber

“Given that coverage amounts are based not on a property’s market value, but its replacement cost, the average policy has also gone from covering over 100% of the average home’s value back in 2013-2015 to just 88% today.”
–Andy Walden, ICE Vice President of Research and Analysis

“The passage of this three-month CR would keep essential housing programs at the Department of Housing and Urban Development, Veterans Affairs, and the Department of Agriculture running without interruption and would also avoid a lapse of the NFIP, which would leave millions of Americans at risk by disrupting the purchase of flood insurance in communities across our country.”
–MBA’s President and CEO Bob Broeksmit, CMB, on the CR before it was passed

“For the third consecutive month, the percentage of loans in forbearance increased across all loan types.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis

“However, after careful review, we are concerned that the proposed changes to the borrower engagement process would increase complexity and level of difficulty to execute, and they would increase the associated risk and cost for participants.”
–The Mortgage Bankers Association and affiliated associations in a letter to Federal Housing Commissioner Julia Gordon regarding the Modernization of Engagement of Borrowers in Default

“As policymakers and elected officials consider options, MBA is leaving no stone unturned to maximize the potential of existing programs that can help narrow the gap between supply and demand. For example, we have been instrumental in bringing about a needed update and expansion of the FHA 203(k) loan program, which enables homebuyers to finance the cost of a home purchase and simultaneous renovation of that home with funds borrowed based on the after-renovation (i.e., future) value of the house.”
–MBA President & CEO Bob Broeksmit, CMB

“FHFA and the enterprises will continue to engage with stakeholders to support both tenants and housing providers as these policies take effect in February 2025.”
–Federal Housing Finance Agency Director Sandra L. Thompson on the new protections for renters

“Zombie foreclosures continue to be a mere blip on the radar screen–one of many measures of the overall strength of the U.S. housing market. After some worries about a rise in abandoned homes following the end of the COVID-era foreclosure clampdown, they remain an anomaly throughout most of the country.”
–Rob Barber, CEO for ATTOM.

“July saw an increase of approximately 20,000 more U.S. homeowners in forbearance compared to the previous month.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis

“The demand slippage in late Q2 could be an early indication that local community developers buying at auction are becoming increasingly wary of rising retail inventory, which represents competition for the renovated homes they sell or rent back into the retail market — typically within six months of buying at auction.”
–Daren Blomquist, Vice President of Market Economics at Auction.com