Who Is The Mortgage Bankers Association And What Do They Do And Why The Drop In Mortgage Application

The Mortgage Bankers Association (MBA) is the United States national association representing all facets of the real estate finance industry headquartered in Washington D.C. The association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand home ownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall street conduits, life insurance companies and others in the mortgage lending field. The MBA represents and serves its members through a comprehensive array of capabilities and tools that enable members to successfully deliver fair, sustainable and responsible real estate financing within ever-changing business environments. According to MBA in their latest weekly survey, mortgage applications have decreased over two week period. According to MBA -- The Market Composite Index, a measure of mortgage loan application volume, decreased 12 percent on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased 48 percent compared with two weeks ago. The Refinance Index decreased 22 percent from two weeks ago. The seasonally adjusted Purchase Index decreased 2 percent from two weeks earlier. The unadjusted Purchase Index decreased 41 percent compared with two weeks ago and was 1 percent lower than the same week one year ago. To get more information on the decrease in mortgage applications click on the pictures below to read the articles.