News
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Mortgage Credit Availability Decreased in September
Mortgage credit availability decreased in September according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology.
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Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 5.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 4, 2024.
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MBA, 13 Mortgage Industry Companies and Trade Groups Launch CONVERGENCE Collaborative to Address the Racial Homeownership Gap
Today, the Mortgage Bankers Association (MBA) and 13 leading industry stakeholders announced the formation of the CONVERGENCE Collaborative, a coordinated effort to identify and develop solutions to help close the racial homeownership gap. Over the next three years, the CONVERGENCE Collaborative will deploy more than $1 million annually to build on the existing network of location-based CONVERGENCE sites focused on expanding minority homeownership.
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MBA Promotes Amber Lawrence to Vice President of Diversity, Equity, and Inclusion
The Mortgage Bankers Association (MBA) today announced that Amber Lawrence has been promoted to Vice President of Diversity, Equity, and Inclusion (DEI). In her elevated role, Lawrence will oversee organizational-wide strategic DEI programs, assist teams in implementing equitable practices, partner with leadership to develop policies that promote inclusivity, and lead member-facing DEI initiatives.
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September Jobs Report Commentary from MBA's Mike Fratantoni
The following is MBA SVP and Chief Economist Mike Fratantoni’s reaction to this morning’s U.S. Bureau of Labor Statistics report on employment conditions in September.
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MBA Promotes Wendy Penn to Vice President for Affordable Housing Initiatives
The Mortgage Bankers Association (MBA) today announced that Wendy Penn has been promoted to Vice President for Affordable Housing Initiatives. In her elevated role, Penn will lead MBA’s ongoing efforts to develop market-based solutions and strategic initiatives that help to improve affordability for homeownership and rental housing.
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Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 27, 2024.
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MBA Affordable Housing Partner Spotlight: Loretta Williamson of Truist
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Mortgage Application Payments Decreased 3.9 Percent to $2,057 in August
Homebuyer affordability improved in August, with the national median payment applied for by purchase applicants decreasing to $2,057 from $2,140 in July. This is according to the Mortgage Bankers Association's (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).
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MBA Calls for House Passage of Continuing Resolution, NFIP Extension
MBA’s President and CEO Bob Broeksmit, CMB, issued the following statement on H.R. 9747, the “Continuing Appropriations and Extensions Act, 2025,” which includes a three-month extension of the National Flood Insurance Program (NFIP)
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MBA Statement on FHFA’s Suspended Counterparty Program Re-Proposal
MBA’s President and CEO Bob Broeksmit, CMB, issued the following statement regarding the Federal Housing Finance Agency’s (FHFA) announced re-proposal of amendments to its Suspended Counterparty Program (SCP) regulation
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Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 11.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 20, 2024.
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Share of Mortgage Loans in Forbearance Increases to 0.31% in AugustThe Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.31% as of August 31, 2024. According to MBA’s estimate, 155,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8.2 million borrowers since March 2020.
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MBA Honors Mortgage Cadence’s Melissa Kozicki with 2024 Ken Markison Legacy Achievement Award
The Mortgage Bankers Association (MBA) today presented its annual Ken Markison Legacy Achievement Award to Melissa Kozicki, CMB, CMCP, Director of Compliance at Mortgage Cadence. The award was announced at MBA's Compliance and Risk Management Conference and recognizes individuals who have distinguished themselves in pursuit of the Certified Mortgage Compliance Professional (CMCP) certificate and designation program.
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MBA Applauds Senate Inclusion of Trigger Leads Amendment in Fiscal Year 2025 NDAA
MBA’s President and CEO Bob Broeksmit, CMB, released the following statement after Senate Armed Services Committee Chairman Jack Reed (D-RI) and Ranking Member Roger Wicker (R-MS) included Senate Amendment 2358, the text of the MBA-supported bill to end the abusive use of mortgage trigger leads (“Homebuyers Privacy Protection Act”), as part of their managers’ amendment to the Senate’s Fiscal Year 2025 National Defense Authorization Act (NDAA)
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Commercial and Multifamily Mortgage Debt Outstanding Increased Modestly in the Second Quarter of 2024
The level of commercial/multifamily mortgage debt outstanding increased by $40.1 billion (0.9 percent) in the first quarter of 2024, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
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MBA Statement on the “ROAD to Housing Act”
MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on the “ROAD to Housing Act,” a broad housing bill recently introduced by Senator Tim Scott (R-SC) and seven of his Senate Banking Committee colleagues.
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FOMC Commentary from MBA's Mike Fratantoni
The following is MBA SVP and Chief Economist Mike Fratantoni’s commentary following the Federal Reserve’s FOMC statement released this afternoon on monetary policy and the economy.
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Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 14.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 13, 2024. Last week’s results included an adjustment for the Labor Day holiday.
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August New Home Purchase Mortgage Applications Increased 4.4 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2024 shows mortgage applications for new home purchases increased 4.4 percent compared from a year ago. Compared to July 2024, applications decreased by 0 percent. This change does not include any adjustment for typical seasonal patterns.