Mortgage

Mortgage
MBA

Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage applications increased 3.6 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 13, 2017. This week's results included an adjustment for the Columbus Day holiday.
NLIHC

New Report Shows That the Mortgage Interest Deduction is One of the Drivers of...

The National Low Income Housing Coalition (NLIHC) and the Institute on Assets and Social Policy (IASP) at Brandeis University’s Heller School released today a report, “Misdirected Investments: How the Mortgage Interest Deduction Drives Inequality and the Racial Wealth Gap.” The report shows that while African Americans and Hispanics each account for 13% of the nation’s households, they receive only 6% and 7% of the tax benefits from the mortgage interest deduction (MID). White households receive nearly 78% of the deduction’s benefits.
Ginnie Mae

VA, Ginnie Mae Create Task Force to Address Mortgage Refinancing Issues

The Government National Mortgage Association (Ginnie Mae) and the Department of Veterans Affairs (VA) announce the formation of the “Joint Ginnie Mae – VA Refinance Loan Task Force.”
MBA

September New Home Purchase Mortgage Applications Decreased 7.5 Percent Year over Year

The Mortgage Bankers Association (MBA) Builder Applications Survey (BAS) data for September 2017 shows mortgage applications for new home purchases decreased 7.5 percent compared to September 2016. Compared to August 2017, applications decreased by 20 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.
VA

VA, Ginnie Mae Create Task Force to Address Mortgage Refinancing Issue

The Government National Mortgage Association (Ginnie Mae) and the Department of Veterans Affairs (VA) announced the formation of the Joint Ginnie Mae – VA Refinance Loan Task Force.
MBA

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 2.1 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 6, 2017

Mortgage Company President Pleads Guilty to Defrauding Ginnie Mae

The middleman in a foreign bribery scheme who falsely held himself out as an agent of a foreign official was sentenced today to 42 months in prison for each count, to run concurrently, for his role in a scheme to bribe a foreign official in the Middle East to land a real estate deal, and to defrauding his co-schemers
MBA

Purchase Apps Up, Refi Apps Down in Latest MBA Weekly Survey

Mortgage applications decreased 0.4 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 29, 2017.

CalHFA Increases Access to Manufactured Home Loans

The California Housing Finance Agency has released new guidelines for lending on manufactured homes that will increase access to housing for low- and moderate-income homebuyers who use a CalHFA mortgage insured by the Federal Housing Administration
Ginnie Mae

Ginnie Mae Unpaid Principal Balance Increases to $1.870 Trillion

Ginnie Mae today announced that issuance of its mortgage back securities (MBS) totaled $44.13 billion in August, an increase from July’s issuance of $41.95 billion.
MBA

MBA Welcomes 14 New Members in August

The Mortgage Bankers Association (MBA) announced that in August it welcomed 14 new regular members to its ranks, which currently numbers more than 2,200 member companies. MBA welcomes the following new members
NMHC

Apartment Industry Statement on “Big 6” Tax Reform Outline

Statement from the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) following the release of the tax reform outline by the “Big 6”. “NMHC/NAA welcome the release of the Republican tax reform framework and applaud the efforts by lawmakers
MBA

MBA Statement on Passage of Bipartisan Flood Insurance Title in FAA extension

David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), made the following statement applauding the House of Representatives for passing bipartisan, bicameral, clarifying language to increase acceptance of private flood insurance products as part of the Disaster Tax Relief and Airport and Airway Extension Act of 2017.
MBA

Mortgage Applications Slightly Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 0.5 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 22, 2017.
MBA

Commercial/Multifamily Mortgage Debt Rises to $3.06 Trillion

otal commercial and multifamily mortgage debt outstanding rose to $3.06 trillion at the end of the second quarter of 2017, as three of the four major investor groups increased their holdings, according to the Mortgage Bankers Association (MBA)'s Commercial/Multifamily Mortgage Debt Outstanding report.
NLIHC

Statement from Diane Yentel, President and CEO of the National Low Income Housing Coalition,...

The tax reform plan proposed by Republican leaders in Congress and the White House overlooks one of the best and most immediate ways to spur economic growth and help everyday Americans who have been left behind: reprioritizing and rebalancing federal housing policy.
MBA

Second Quarter Delinquencies Remain Low, CMBS Increases Slightly

Delinquency rates for commercial and multifamily mortgage loans were relatively flat in the second quarter of 2017, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report.
SIGTARP

FINAL DEFENDENT SENTENCED IN PIERCE COMMERCIAL MORTGAGE FRAUD INVESTIGATION

The final defendant in a long running investigation of mortgage fraud at Pierce Commercial Bank was sentenced today in U.S. District Court in Tacoma, announced Special Inspector General for the Troubled Asset Relief Program Christy Goldsmith Romero and U.S. Attorney Annette L. Hayes. Between 2005 and 2008, Ben Leske, 40, of Puyallup, worked as a loan officer for PC Bank Home Loans, a division of Pierce Commercial Bank. Leske pleaded guilty in May 2017, to making false statements on loan applications.
FTC

Court Finds Defendants Lied to Consumers When Selling Legal Services for Mortgage Relief

A federal court has found that Jeremy Foti and Charles Marshall, acting through Brookstone Law and Advantis Law, “made numerous false and/or misleading material statements to consumers” when selling legal services for purported mortgage relief.
MBA

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 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 September 15, 2017. Last week's results included an adjustment for the Labor Day holiday.
MBA

MBA Applauds Senate for Confirming Pam Patenaude

David H. Stevens, CMB, President & CEO of the Mortgage Bankers Association (MBA), released a statement following the Senate confirmation of Pam Patenaude to be the Deputy Secretary of Housing and Urban Development (HUD).
MBA

MBA’s RIHA Releases Special Report on Managing Mortgage Product Development Risk

The Mortgage Bankers Association's Research Institute for Housing America (RIHA) today released a new special report, Managing Mortgage Product Development Risk." The report "recommends a more formalized approach to assessing mortgage product risk that takes into account both product and process risk." It was authored by Clifford V. Rossi, Executive in Resident and Professor at the Robert H. Smith School of Business, University of Maryland.
MBA

MBA Releases White Paper, “CFPB 2.0: Advancing Consumer Protection”

The Mortgage Bankers Association (MBA) today released a new white paper, prepared for MBA by the law firm of Covington and Burling, entitled CFPB 2.0: Advancing Consumer Protection. The paper examines the approach of the Consumer Financial Protection Bureau (CFPB) during its first five years of undertaking enforcement actions in key areas--including actions that clearly departed from prior published interpretations-without providing sufficient supervisory guidance to the industry in advance.
MBA

Statement on Brian Montgomery Being Nominated to Lead the FHA

David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), made the following statement about President Trump nominating Brian Montgomery to be the next Federal Housing Commissioner at the U.S. Department of Housing and Urban Development (HUD)
MBA

Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage applications increased 9.9 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 8, 2017. This week's results included an adjustment for the Labor Day holiday.
MBA

August New Home Purchase Mortgage Applications Increased 6.8 Percent Year over Year

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2017 shows mortgage applications for new home purchases increased 6.8 percent compared to August 2016. Compared to July 2017, applications increased by 7 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.
MBA

Mortgage Credit Availability Increases in August

Mortgage credit availability increased slightly in August according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from Ellie Mae's AllRegs® Market Clarity® business information tool.
MBA

MBA Statement on Hurricanes Harvey and Irma Relief Efforts

David H. Stevens, President & CEO of the Mortgage Bankers Association (MBA), released the following statement in response to questions about what steps homeowners should take if their homes suffered damage from Hurricanes Harvey or Irma.
NAHB

Statement from NAHB Chairman Granger MacDonald on HUD Suspending FHA Multifamily Mortgage Insurance Applications...

Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, today issued the following statement regarding the Department of Housing and Urban Development’s decision to halt new FHA multifamily mortgage insurance applications in counties impacted by Hurricane Harvey and designated as Presidentially Declared Disaster areas
MBA

MISMO Seeks Input on Online Notary Standards

MISMO®, the Mortgage Industry Standards Maintenance Organization, is inviting mortgage industry participants to collaborate on developing new electronic and online notary standards and best practices for use within the mortgage process

Popular Government & Nonprofit Press Releases

NeighborWorks America

NeighborWorks lending efforts get boost from more than $18 million in...

Twenty-five NeighborWorks organizations around the country have received more than $18 million as part of grants from the U.S. Department of the Treasury’s Community Development Financial Institution (CDFI) program. Combined with grants from the Neighborhood Reinvestment Corp. (dba NeighborWorks America), local governments, foundations and the private sector, the funds will allow these small- and medium-sized nonprofit businesses to continue to provide affordable loan products and services to low- and moderate-income borrowers.

Recent Government & Nonprofit Press Releases

The White House

President Donald J. Trump Announces Intent to Nominate Leonard Wolfson to...

If confirmed, Leonard Wolfson of Connecticut will serve as Assistant Secretary of Housing and Urban Development. Mr. Wolfson has served as Associate Vice President of Legislative Affairs for the Mortgage Bankers Association, where he helped the real estate finance industry recover from the financial crisis by advocating for a return to safe and sustainable lending.