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SUBSCRIBE ? Volume 12 | Issue 70 | Thursday, April 11, 2013
The Lede
On Hill, Stevens Urges 'Balanced Approach' Toward FHA
Mortgage Bankers Association President and CEO David Stevens told a House Financial Services subcommittee yesterday that Congress should take a balanced approach toward the Federal Housing Administration that allows it to maintain its mission focus, while remaining fiscally sound over the long term.
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Top National News

Residential Finance News

Commercial/Multifamily News

MBA News

Article Abstracts

Top National News

Support FHA's Efforts to Expand Responsible Lending
American Banker, Apr. 10, 2013--Stevens, David
Mortgage Bankers Association President and CEO David Stevens, in editorial, says creating certainty in homeownership system will provide "doorway to opportunity" for borrowers, private sector.
(More) (subscription required)

Many Americans Paying More for Homes Relative to Income
ABC News, Apr. 10, 2013--Kim, Susanna
Zillow said home buyers in 24 of 30 largest metropolitan areas paid more for their homes in fourth quarter compared to relative median incomes levels than in previous periods.
(More)

Housing Experts: FHA Needs Flexibility to Fix Reverse Mortgages
Reverse Mortgage Daily, Apr. 10, 2013--Ecker, Elizabeth
Panel before House subcommittee, including MBA President and CEO David Stevens, push for FHA to have more authority to handle reverse mortgage program issues.
(More)

Obama Administration Foresees $943 Million Bailout of FHA
Reuters, Apr. 10, 2013--Chadbourn, Margaret
FHA Commissioner Carole Galante says agency has until Sept. 30 to decide if it needs cash infusion from Treasury Department.
(More)

Obama Budget Gives CFPB, Treasury Financial Lifelines
Housing Wire, Apr. 10, 2013--Panchuk, Kerri Ann
Both agencies see more "spending flexibility" in fiscal 2014 Administration budget request.
(More)

Scant Relief in Foreclosure Pact
Wall Street Journal, Apr. 10, 2013--Zibel, Alan; Fitzpatrick, Dan
Analysis of mortgage settlment between government, large servicers shows majority of borrowers will receive less than $1,000 for alleged mortgage-related abuses.
(More) (subscription required)


Residential Finance News

Administration 2014 Budget Projects Nearly $1 Billion FHA Shortfall
The Obama Administration yesterday submitted its fiscal 2014 budget, a $3.77 trillion proposal that mixes more than $1 trillion in spending and new taxes but also more than $1 trillion in budget cuts that target previously untouchable programs such as Social Security and Medicaid.
Full Story

Technology/Service Providers, Lenders Grapple With CFPB Regulations
Lenders and service providers face some of the most dramatic changes in the mortgage industry's history--a result of new regulations from the Consumer Financial Protection Bureau.
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HOPE NOW: Loan Mods Up 6%
HOPE NOW yesterday said its member servicers completed more than 81,000 loan modifications in February, up 6 percent from January; it also reported completed foreclosure sales reached their lowest level since 2007.
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Commercial/Multifamily News

Renewed Optimism for Capital Markets
A panel of real estate economists sees renewed optimism for growth in both real estate capital markets and commercial real estate fundamentals.
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Dealmaker of the Day
Walker & Dunlop, Bethesda, Md., provided $97.9 million in financing for six multifamily properties in Florida, Georgia, Kentucky and Louisiana.
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MBA News

Early Registration Deadline Friday for MBA National Secondary Market Conference/Expo
The Mortgage Bankers Association's 2013 National Secondary Market Conference & Expo, Market-Based Solutions, takes place May 5-8 at the New York Marriott Marquis. Register by Apr. 12 for substantial savings.
Full Story

CampusMBA Online School of Mortgage Servicing Coming this June
CampusMBA, the education division of the Mortgage Bankers Association, announces the next offering of the new, instructor-guided online version of our popular School of Mortgage Servicing this June.
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Explore MBA through Social Media
If you like using social media, the Mortgage Bankers Association has you covered.
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Stat




Quote

"Ultimately, all stakeholders want the same thing--a fully functioning market that relies most heavily on private capital, with a limited, appropriate role for federal programs. A stable, sustainable FHA program must be a part of that system."
--MBA President and CEO David Stevens, in testimony yesterday before a House subcommittee.

About MBA NewsLink
Publisher: Marcia Davies, Senior Vice President, External Relations and Chief of Staff
Editor: Mike Sorohan 202/557-2855
Editorial Director: Michael Tucker 202/557-2851
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David H. Stevens, President and CEO, Mortgage Bankers Association

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