Mortgage Bankers Association

Divisions in mortgage industry emerge ahead of 2020 election


Political donations from the sector and interviews with industry experts highlight a wide range of views on affordable housing resources, the appropriate level of regulatory relief and how policymakers should enforce fair housing rules.


Housing groups seek change to FHA loan restriction on student debt


An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.


Will GOP plan to slash unemployment aid trigger wave of loan defaults?


The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.


Wells Fargo expands nonconforming jumbo refi loan criteria


However, those who aren't current bank customers need to have $1 million in a qualifying account.


Wells Fargo hires Flagstar Bank's Kristy Fercho to lead home lending


Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending.


Lenders in the construction market hold their breath as economy reopens


The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists.


FHFA close to unveiling capital plan for privatized GSEs


Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”


Mortgage forbearance requests surged as coronavirus spread


The share of borrowers seeking payment relief rose more than tenfold as COVID-19 concerns grew and authorities encouraged the practice, according to the Mortgage Bankers Association.


Lenders back push from hotels to access crisis-era program


With seven in 10 rooms sitting empty amid the coronavirus outbreak, hotel and banking groups are urging policymakers to open up the Term Asset-Backed Securities Loan Facility.


Refinance mortgage applications reach highest level since 2013


Refinance application activity last week was the highest in nearly seven years, with more than triple the volume from one year ago, according to the Mortgage Bankers Association.