David Stevens, President & CEO of the Mortgage Bankers Association [1] , joins the show to discuss an “economic wealth gap being created in terms of access to homeownership”. Borrowers who lost homes during the crisis, even if recovered financially, no longer have access to homeownership as a result of the tight credit environment which could impact a family’s ability to create wealth for generations.
David Stevens stated that over the past several years, purchase money applications below $417,000 have seen double digit declines while loan applications with loan balances greater than $729,000 have grown dramatically. Stevens goes on to discuss QM, FHA stability, servicing, growing the secondary mortgage market and more.
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