Mortgage Bankers Association

Slides:

Advertisements

Similar presentations

Dealing With Financial Turmoil: The Fed’s Response David C. Wheelock* Federal Reserve Bank of St. Louis November 6, 2008 *Views expressed are not necessarily.

Advertisements

A Closer View at Overall Economic Activity FED CHALLENGE THE CURRENT STATE OF THE U.S. ECONOMY Housing Confidence Store Sales Manufacturing GDP Fed Balance.

Housing Market Trends & Outlook Lawrence Yun, Ph.D. Chief Economist NATIONAL ASSOCIATION OF REALTORS ® Presentation at NAR Annual Conference in San Diego.

Housing Virginia Symposium 06/14/2013.  The content of this presentation represents contains information from independent 3 rd party firms. The statements.

ATR, Appendix Q, QRM, QM, and seller financing (904)

Consumer Math p Definitions  Down payment – part of the price paid at the time of purchase  Financed – borrowed  Mortgage – a property loan.

1 HOUSING MARKET IN FINLAND May HOUSING PRICES PER EARNINGS INDEX 2000=100.

Home Mortgage Disclosure Act (HMDA) Data Raphael W. Bostic University of Southern California Housing Statistics User Group West meeting at the University.

Virginia Housing Development Authority Virginia Housing Market Overview Virginia Association of Realtors October 2, 2010.

Housing and Mortgage Market Outlook for 2011 NC-CCIM Commercial Real Estate Panel Charlotte, NC March 30, 2011 Frank E. Nothaft Chief Economist.

©2014 CoreLogic, Inc. All rights reserved. Proprietary & Confidential Slow and Steady Wins the Race: Housing Market Outlook David Stiff, Principal Economist,

The Future of Mortgage Finance: QM, QRM and Basel III Jay Brinkmann* Chief Economist and SVP, Research & Education *Comments and opinions are solely those.

Almost Boring: Residential Housing in 2015 DR. JIM GILKESON, CFA CFA SOCIETY OF ORLANDO APRIL 9, 2015.

Learning Objectives  Types of mortgages  Credit Guarantees  Mortgage Amortization  Mortgage Origination and Underwriting Standards  Mortgage refinancing.

Presentation at Mid-Fairfield Association of REALTORS® Norwalk, CT April 28, 2008 Presentation at Mid-Fairfield Association of REALTORS® Norwalk, CT April.

Virginia Housing Development Authority Review of Virginia Market Conditions and Foreclosure Trends What’s Ahead for Housing? A Symposium on Federal Housing.

National Association of Home Builders 2006 Fall Construction Forecast Conference House Prices: Boom or Bust? October 25, 2006 David W. Berson Vice President.

©2011 PRESIDENT AND FELLOWS OF HARVARD COLLEGE A CHALLENGING AND TURBULENT TIME NeighborWorks Homeownership Symposium Eric Belsky February

©OnCourse Learning. All Rights Reserved.. Sources of Financing ©OnCourse Learning. All Rights Reserved. Chapter 17.

State of Mortgage Lending – National View Greater Cincinnati MBA September 17, 2013 Presented by Bill Cosgrove Vice Chairman Mortgage Bankers Association.

New Hampshire Housing Homeownership Conference February 18, 2014.

Industry and Regulatory Landscape September 2013 Pete Mills – SVP Residential Policy MBA Mike Fratantoni – MISMO President, VP Single Family Research MBA.

Mortgage Market Update September 17, 2010 – Raleigh, NC 2010 North Carolina Affordable Housing Conference Keith Ernst.

1 Mortgage Defaults and Foreclosures: Recent Trends and Associated Economic and Market Developments Randy Fasnacht U.S. Government Accountability Office.

Jim Blaine December 6, 2006 Arlington, Virginia Hosted by the Federal Deposit Insurance Corporation Affordable, Responsible Loans for.

MBA Economic and Mortgage Finance Outlook Prepared for NCSHA Annual Conference September 29, 2015 Mike Fratantoni Chief Economist MBA.

Understanding and Utilizing Today’s Real Estate Data.

Wichita Area Economic Outlook Conference October 1, 2009 Dr. Stanley D. Longhofer Director, WSU Center for Real Estate.

David H. Stevens President and Chief Executive Officer Mortgage Bankers Association What’s the New Normal?

Economic and Housing Market Lawrence Yun, Ph.D. Chief Economist NATIONAL ASSOCIATION OF REALTORS ® Presentation at 2012 Resort and Second-Home Symposium.

Broker Services RC Investments Inc.. Client Issues Hundreds of loan programs Finding the right program at the right price Guaranteed loan delivery Banks.

FEBRUARY Michigan’s Surveys of Consumers Consumer Optimism Hits 11-Year High.

Presentation at NAR Annual Conference and Expo Orlando, FL November 7, 2008 Presentation at NAR Annual Conference and Expo Orlando, FL November 7, 2008.

A Housing Policy for the 21 st Century Edward J. Pinto Codirector – International Center on Housing Risk American Enterprise Institute October 7, 2015.

© 2008 by South-Western, Cengage Learning Chapter 13 Charles J. Jacobus Thomas E. Gillett.

Dodd-Frank Wall Street Reform and Consumer Protection Act: Impact on US financial institutions’ risk profile and small business lending capacity Presented.

20-1 The Money Supply and Banking Systems Chapter 20.

1 Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin CHAPTER 16 DEPOSITORY LENDERS IN THE PRIMARY MARKET Commercial.

MAREMA Real Estate Conference Richmond, Virginia October 23, 2015 Presenter: Stephen M. Renna President & CEO, CRE Finance Council.

SEOWON KIM, JUNGMIN CHAE.  GOVERNMENT cannot finance its regular activities, including providing social services, paying for defense, and managing other.

2016 TMC Winter Conference Welcome. Mission “A Mortgage Cooperative Singularly Focused on the Growth and Profitability of Independent Mortgage Bankers.

Economic and Housing Outlook By Lawrence Yun, Ph.D. Chief Economist, National Association of REALTORS® Presentation at Fayetteville Association of REALTORS®

Mortgage Industry Changes That May Impact Closing

Agency Update High level Roadmap (Draft)

“Disease of Uncertainty” not the “Symptom of Fear”

Housing Affordability Index

8.4 Federal Reserve System

Broker Services RC Investments Inc..

Jim Park Chairman Emeritus Asian Real Estate Association of America &

The Housing Market Crash 2006 What happened?

What’s Happening in the Atlanta and

The Federal Reserve and Monetary Policy

Welcome and Thank You for Attending!

Crescent Mortgage Company | Title | Name

Economic and Housing Outlook

Agenda Actions Year to Date

The History of the ? Economic Crisis

The Sky’s The Limit Conference and Expo

Economic and Housing Market

Hamilton Fout Director, Economic & Strategic Research Fannie Mae

Lending in a Financial Reform World

Class 2- The Origins of the Crisis October 9, 2010

Mortgage Bankers Association

and the Regulatory Environment

Federal Reserve System

Housing Supply and Home Prices

By Ms. Parsons and Mr. Frasier

Is Mortgage Credit Too Tight? What the Data Tells Us

Mortgage Market Meltdown What it Means to You

Presentation transcript:

Mortgage Bankers Association Consumer Federation of America 25th Annual Financial Services Conference David H. Stevens President & CEO Mortgage Bankers Association Friday, November 30, 2012

Housing Affordability Today

Purchase Apps Have Been Slow to Recover Mortgage Bankers Association 12/8/2017 Purchase Apps Have Been Slow to Recover BRZ: Changed Y1 from: “Existing Home Sales (Thousands, SAAR)”  “Home Sales (Thousands)”. Changed Y2 from “MBA Purchase Index (Index 16mar1990=100,SA)” “MBA SA Purchase Index”. Upped font size on both Axes, upped font size on legend. Changed colors on Axis Labels to Match respective lines. Upped font size of dates along X-Axis. Sources: MBA, NAR Mortgage Bankers Association

Where We’ve Been

Mass Scale Litigation

Loan Officer Compensation Hundreds of Rules QM QRM Servicing Standards Licensing Loan Officer Compensation RESPA/TILA HOEPA Basel III Appraisal Standards ECOA Disclosure State Level G-Fee

- National Economic Council – Jim Parrot “ How do you correct for what happened, but not do so in away that we’re stuck where we are today – where there’s not enough liquidity? We clearly haven’t threaded that needle yet.” - National Economic Council – Jim Parrot

Consumer is impacted

Lenders Exiting the Market Source: FFIEC

Productivity Down: Costs to Consumers Retail Apps per Underwriter per Month Source: MBA/STRATMOR Peer Group Survey

Tight Credit Box at GSEs…Limits Access Source: Fannie Mae 10-K and Credit Supplement Reports

And FHA Source: FHA Monthly Outlook Reports

Balancing Enforcement Consumer Protections Access to Credit

- Federal Reserve Chairman Ben Bernanke “ The pendulum has swung too far the other way…overly tight lending standards may now be preventing creditworthy borrowers from buying homes.” - Federal Reserve Chairman Ben Bernanke

Rates

Home Price Appreciation Trending Up Source: FHFA, Case Shiller, Corelogic

Household formation on rise again

ECHO BOOM – Fuel for Future

Partnership Clear Rules and Standards to Protect All Consumers Lenders Investors Environment that will attract vs. repel lending