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MBA offers mortgage lending predictions, CBA launches consumer education campaign

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Banking
Friday, September 6, 2024

As the mortgage marketplace anticipates long-awaited reductions in interest rates and inflation, some experts are optimistic about the implications for the housing market. Learn what the largest trade organization in the lending space is saying and about other recent developments in the financial sector in this roundup:

MBA expects uptick in commercial/multifamily mortgages

The Mortgage Bankers Association (MBA) is anticipating a sizeable increase in commercial/multifamily mortgage borrowing and lending. The association expects the commercial/multifamily market to finish the year at $539 billion, representing a 26 percent increase from $429 billion last year. MBA Head of Commercial Real Estate Research Jamie Woodhill said, “the recent moderation in interest rates, coupled with the large volume of loans maturing in coming quarters, should prompt an uptick in mortgage borrowing from the low levels we’ve seen over the last two years.” The exact timing of the increase will depend on when property owners begin taking advantage of lower long-term interest rates. Read more here.

CBA launches credit card confidence campaign

The Consumer Bankers Association (CBA) launched its “Credit Card Confidence” campaign, created to offer simple and accessible educational tools to help consumers better understand the credit card market. The goal of the campaign is to provide consumers resources to make informed decisions on choosing a credit card that meets their particular financial needs and is best suited for their unique personal lives and preferences. The trade group announced the campaign along with the launch of its www.CreditCardConfidence.com website. CBA has partnered with several social media influencers to reach young adults who want to learn more about their many options in the credit card market, according to the organization. Read a statement by CBA President and CEO Lindsey Johnson about the launch of the campaign here.

BPI publishes tips on how banks can manage climate risks

The Bank Policy Institute offered a list of tips for how banks can assess material climate transition risks to their institutions on the organization’s blog. Frank Elderson, member of the executive board and vice-chair of the supervisory board of the European Central Bank (ECB), asserted it is critical for banks to manage their transition risks because, “misalignment with the EU (European Union) climate transition pathway can lead to material financial, legal and reputational risks for banks. It is therefore crucial for banks to identify, measure and − most importantly − manage transition risks, just as they do for any other material risk.” Learn what specific advice he had to offer here.

Credit union advocates host policy talks with politicians

State-level credit union leagues and individual institutions have been holding meetings with policymakers as the summer recess period draws to a close. Last week brought credit union leaders together with elected officials and candidates in South Carolina, North Dakota, Delaware and New Jersey. The Carolinas Credit Union League (CCUL) met with Rep. William Timmons (R-S.C.) in a joint meeting that also included a candidate for South Carolina State Senate, Jason Elliott. America’s Credit Unions and the CCUL supported Timmons with a targeted advertisement campaign, and he won a close primary race in June. Read more information here.

Today's other top stories
New Fed IG will oversee CFPB investigation over mass firings
Bankers largely expect balance sheets to remain unchanged, per Fed survey results
Industry leaders take the stage at NS3 in Pittsburgh
MBA reports sizeable uptick in mortgage applications
Senate confirms new deputy secretary of HUD


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