MBA Statement on FHFA Updates on Loan Repurchases, Appraisals, and Pricing

October 28, 2024 Press Release

Contact

Adam DeSanctis

(202) 557-2727

Share to

WASHINGTON, D.C. (October 28, 2024) — MBA’s President and CEO Bob Broeksmit, CMB, issued the following statement on today’s Federal Housing Finance Agency (FHFA) announcements on loan repurchases, appraisals, and pricing at MBA’s 2024 Annual Convention and Expo:

“MBA has been a leading industry voice in seeking effective alternatives to loan repurchase requests and appreciates the ongoing, constructive engagement with FHFA, Fannie Mae, and Freddie Mac over the past few years. Expanding Freddie Mac’s pilot program is another important step toward encouraging high-quality underwriting and eliminating performing loan repurchases.

“We also support the expansion of appraisal waivers, which will lower costs for moderate-income first-time buyers.

“A 60-day advance notice for some guarantee-fee increases is a response to our concerns and is a welcome development that will allow lenders to better manage their pricing strategies and loan pipelines. We have long called for increased pricing transparency and believe more conversations are needed to better balance who bears the risks of pricing volatility between the primary market and the GSEs.

“MBA thanks Deputy Director Tagoe for addressing our members on these important issues as well as indicating more is to come on property insurance costs and availability.”  

Pardon our Dust!

MBA is conducting scheduled maintenance on our website from 8am to 4pm, EST, on Saturday, December 7th. During this time, you may experience disruptions as we make updates to our system. The following systems and functions will be impacted:

  • The ability to purchase products, register for meetings, or enroll in webinars or courses
  • The ability to view or make any updates to your account via MyMBA

Thank you for your patience and for visiting MBA.org. OK