News
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MBA Presents Burton C. Wood Award to Christine Rhea, President/CEO of the Mortgage Investors Group
The Mortgage Bankers Association (MBA) today presented its annual Burton C. Wood Legislative Service Award to Christine (Chrissi) Rhea, President/CEO of the Mortgage Investors Group (MIG), at MBA's 2024 National Advocacy Conference (NAC).
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Madisyn Rhone Joins MBA as Vice President of Legislative Affairs
The Mortgage Bankers Association (MBA) announced that Madisyn Rhone joined the association today as Vice President of Legislative Affairs. In this role, she will be responsible for advocating on behalf of MBA's legislative and policy priorities on Capitol Hill, with a primary focus on Democratic members of the U.S. House of Representatives.
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Commercial and Multifamily Mortgage Delinquency Rates Increased in Fourth Quarter 2023
Commercial mortgage delinquencies increased in the fourth quarter of 2023, according to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report.
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Share of Mortgage Loans in Forbearance Holds Steady at 0.22% in February
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance remained unchanged at 0.22% as of February 29, 2024. According to MBA’s estimate, 110,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 8.1 million borrowers since March 2020.
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IMBs Report Net Production Losses in the Fourth Quarter of 2023
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $2,109 on each loan they originated in the fourth quarter of 2023, an increase from the reported loss of $1,015 per loan in the third quarter of 2023, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.
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Commercial and Multifamily Mortgage Debt Outstanding Increased in Fourth-Quarter 2023
The level of commercial and multifamily mortgage debt outstanding at the end of 2023 was $130 billion (2.8 percent) higher than at the end of 2022, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
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Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 7.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 8, 2024.
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MBA Opens Doors Foundation Receives $1 Million Pledge from Equity Prime Mortgage
The MBA Opens Doors Foundation (Opens Doors) today announced that Eddy Perez, Founder and CEO of Equity Prime Mortgage (EPM), has pledged $1,000,000 over 10 years in honor of the late former MBA President and CEO David H. Stevens, CMB.
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MBA Statement on HUD Secretary Marcia Fudge
MBA's President and CEO Bob Broeksmit, CMB, released the following statement on the retirement of Department of Housing and Urban Development (HUD) Secretary Marcia Fudge.
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MBA Warns CFPB Against Unnecessary Reforms to Mortgage Rules
MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on the Consumer Financial Protection Bureau’s (CFPB) blog post this morning on housing costs.
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February Jobs Report Commentary from MBA's Joel Kan
The following is MBA VP and Deputy Chief Economist Joel Kan’s reaction to this morning’s U.S. Bureau of Labor Statistics report on employment conditions in February.
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MBA Statement on the Biden Administration’s Housing Affordability Initiatives Warns Against CFPB Reforms on Closing Costs, Title Insurance
MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on the Biden administration’s announcements on housing released ahead of tonight’s State of the Union address.
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Mortgage Credit Availability Increased in February
Mortgage credit availability increased in February 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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MBA Appoints Victor Calanog of Manulife Investment Management Vice-Chair of 2024 Affordable Rental Housing Advisory Council
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Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 9.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 1, 2024.
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MBA Statement on the SEC’s Climate-Risk Disclosure Final Rules
MBA's President and CEO Bob Broeksmit, CMB, released the following statement on the U.S. Securities and Exchange Commission’s (SEC) final rule on mandatory disclosures related to climate-related risk and company greenhouse gas emissions.
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MBA Statement on the House Passage of the FY 2024 Funding Package
MBA’s President and CEO Bob Broeksmit, CMB, issued the following statement on the passage of six fiscal year 2024 budget bills, which includes funding for the Department of Housing and Urban Development (HUD), Veterans Affairs (VA), and the Department of Agriculture (USDA).
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MBA Opens Doors Foundation Welcomes M&T Realty Capital Corporation’s Christine Chandler and Mphasis Digital Risk’s Jeffrey C. Taylor to Board of Directors
The MBA Opens Doors Foundation (Opens Doors) today welcomed Christine Chandler, MBA’s 2024 Vice Chair and Executive Vice President, Chief Credit Officer, and Chief Operating Officer at M&T Realty Capital Corporation, and Jeffrey C. Taylor, Founder & Managing Director at Mphasis Digital Risk, to its Board of Directors. Opens Doors provides mortgage and rental assistance to families with critically ill or injured children, allowing parents and guardians to be by a child's side during treatment, without fear of jeopardizing their home.
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MBA Applauds Efforts to Improve Loan Repurchase Demands; Calls for Better Alignment at the GSEs
MBA President and CEO Bob Broeksmit, CMB, issued the following statement regarding recent moves by Fannie Mae and Freddie Mac (the GSEs) to address loan repurchase requests.
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Mortgage Application Payments Increased 3.8 Percent to $2,134 in January
Homebuyer affordability declined in January, with the national median payment applied for by purchase applicants increasing to $2,134 from $2,055 in December. 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).