News Topic: Mortgage Bankers Association

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. ... Read full article

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. ... Read full article

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. ... Read full article

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

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

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. ... Read full article

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.” ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

As lawmakers tackle Fannie Mae and Freddie Mac, any revamp must lessen risk to the mortgage system and U.S. taxpayers. ... Read full article

Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association. ... Read full article

While regulation and nonbank competition are spooking some banks, others believe low funding costs and the right relationships can help them succeed. ... Read full article

The Senate Banking Committee will hold two hearings at the end of March on Chairman Mike Crapo’s most recent framework for housing finance reform. ... Read full article

The Mortgage Bankers Association, National Association of Realtors and 26 other groups warned the agency not to pursue steps reducing the scope of Fannie Mae and Freddie Mac that could upset the mortgage market. ... Read full article

The Milken Institute's plan to address the housing finance system proposes a number of measures that could be carried out by regulators, after years of stalled legislative attempts. ... Read full article

The proposal by Fannie and Freddie’s regulator to impose bank-like capital requirements would be relevant only if the companies leave conservatorship. But that hasn’t stopped lenders from requesting changes. ... Read full article

Real estate and mortgage industry groups outspent proponents three-to-one to defeat Proposition 10, a measure to allow California municipalities to set local rent control laws. ... Read full article