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Volume 15 | Issue 44 | Thursday, October 26, 2017

The Lede

 

MBA Forecasts Commercial/Multifamily Originations Flat in 2018

Commercial and multifamily mortgage originations should increase in 2017 to end the year at $515 billion--up 5 percent from 2016--the Mortgage Bankers Association projected. Volumes should remain at roughly that level in 2018 as well.

 

Top National News

 
Shocker: MBA President and CEO David Stevens Announces Retirement

HousingWire, Oct. 25, 2017--Ben Lane
One would never have gathered as much during his rousing speech at the Mortgage Bankers Association Annual Convention in Denver or while walking around the Colorado Convention Center, but MBA Annual 2017 will be one of David Stevens' last major events as the leader of the mortgage industry's biggest trade group.

MBA: Multifamily Lending Hit Record High in 2016

National Mortgage Professional, Oct. 19, 2017--Phil Hall
The multifamily lending sector ended 2016 on an eight percent year-over-year increase, setting a new peak with nearly 3,000 different lenders originating $269.2 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association.

Lord & Taylor Sells NYC Flagship Store for $850M

Wall Street Journal, Oct. 24, 2017--Suzanne Kapner, Eliot Brown (subscription)
Lord & Taylor is selling its flagship New York City store for $850 million, a move that will convert most of the landmark building into office space and the headquarters of real estate startup WeWork Cos.

Trump Picks MBA's Len Wolfson to Serve as HUD Assistant Secretary

HousingWire, Oct. 20, 2017--Ben Lane
Thursday, the Trump administration announced its intention to nominate Len Wolfson to serve as HUD assistant secretary congressional and intergovernmental relations.

Big Mall Operator Does the Unthinkable--Builds a Mall

Wall Street Journal, Oct. 24, 2017--Suanne Kapner (subscription)
On a bright August morning, GGP Inc., one of the country's largest mall operators, did the unthinkable. It broke ground on a new shopping mall, a seemingly risky bet in a world where retailers are closing hundreds of stores and malls across the country are trying to reinvent themselves. It could be one of the last enclosed malls ever built in the U.S.

What HMDA Changes Mean for Lenders

HousingWire, Oct. 24, 2017--Sarah Wheeler
Let's go with the good news: After collecting expanded data on borrowers under the Home Mortgage Disclosure Act rule changes, lenders are going to have greater insight than ever before on their lending practices. The bad news? So is everyone else.

Rental Listing Service Reports Baby Boomers Leaving Homeownership in Droves

HousingWire, Oct. 19, 2017--Kelsey Ramirez
It is actually not Millennials who are pouring into the rental market, but Baby Boomers, according got the latest report from RENTCafé, a nationwide internet listing service that enables renters to find apartments and houses for rent throughout the U.S.

Rising Rents Are Stressing Out Tenants And Heightening America's Housing Crisis

Forbes, Oct. 19, 2017--Joel Kotkin, Wendell Cox
There is a strong relationship between high rents and high house prices. This essentially brings into the rental market more affluent tenants who directly compete with those with lower incomes.

Investors Maintain Healthy Appetite for B-piece CMBS

National Real Estate Investor, Oct. 25, 2017--Beth Mattson-Teig
The continued liquidity for the riskiest tranche of comercial mortgage-backed securities loan pools is good news for borrowers.

News and Trends

 
Lopez Reflects on Past Year as MBA Chairman

DENVER--His term as Chairman of the Mortgage Bankers Association at an end, Rodrigo Lopez, CMB, extolled attendees here at the MBA Annual Convention & Expo this morning to continue their involvement in the real estate finance industry.

MBA Appoints COMBOG Governors, Committee Chairs for 2018

DENVER--The Mortgage Bankers Association announced its 2018 members of the Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) and Committee Chairs.

MBA Future Leaders Program Graduates 34 Commercial/Multifamily Real Estate Finance Professionals

DENVER--The Mortgage Bankers Association recognized 34 commercial/multifamily market segment professionals in a graduation ceremony for the MBA Future Leaders Program here at its Annual Convention & Expo.

MBA Asks Quick Confirmation of Montgomery as FHA Commissioner

The Mortgage Bankers Association asked Senate Banking Committee leadership to quickly move forward with Brian Montgomery's nomination as FHA Commissioner, saying his experience will provide a "unique perspective" on housing and mortgage markets.

Transforming, Reforming the GSEs

DENVER--Freddie Mac and Fannie Mae came to the Mortgage Bankers Association's Annual Convention & Expo here to discuss their "transform and reform" stories.

CREF Highlights

Commercial and multifamily developments and activities relevant to your business and our industry.

MBA Chart of the Week: Multifamily Mortgage Lending, 2013-2016 ($M)

Last year was another record year for multifamily mortgage lending, according to a new report from the Mortgage Bankers Association.

JLL: Law Firms Seeking New Office Space

The law firm real estate market is entering a new phase that gives law firms a better choice of location and office space than ever before, reported JLL, Chicago.

Ten-X: Tech Shifts Spur Industrial Real Estate

The industrial sector continues to benefit from the same technology shifts challenging the retail and office sectors, reported Ten-X, Irvine, Calif.

Commercial/Multifamily Briefs

Financial Industry Computer Systems, Addison, Texas, released a new version of its Commercial Servicer commercial servicing software to the Microsoft.NET framework.

People in the News

 
G.S. Wilcox & Co. Hires Logan, Wilcox

G.S. Wilcox & Co., Morristown, N.J., hired Rob Logan and Wesley Wilcox as Senior Associates. Both will support the origination and underwriting areas of the firm's business.

Dealmaker of the Week

 
HFF Secures $278M for Multifamily Construction

Holliday Fenoglio Fowler, Houston, secured $277.8 million in construction financing for California and North Carolina multifamily properties.

MBA News

 
CREF18 in San Diego Feb. 11-14

The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2018 returns to San Diego Feb. 11-14.

FHA Multifamily Underwriter Training: Enrollment Deadline Oct. 31

The MBA Education FHA Multifamily Underwriting Training Program--the most extensive and rigorous curriculum of its kind in the industry--starts Jan. 8. Open enrollment ends Oct. 31.

MBA Accounting/Financial Management Conference Nov. 13-15

The Mortgage Bankers Association's Accounting/Financial Management Conference 2017 takes place Nov. 13-15 at the Grand Hyatt San Antonio.

Now Taking Applications: MBA Education Commercial/Multifamily Future Leaders Program

MBA Education is taking applications for its Commercial/Multifamily Future Leaders Program, an executive leadership development program that delivers a comprehensive curriculum for selected managers who have shown leadership abilities.

MBA Summit on Diversity and Inclusion Dec. 4-5

The Mortgage Bankers Association's annual Summit on Diversity & Inclusion takes place Dec. 4-5 at the Capital Hilton in Washington, D.C.

MBA Education Multifamily Property Inspection Workshop in Atlanta Mar. 21-22

MBA Education presents its popular Multifamily Property Inspection Workshop in Atlanta March 21 and 22, 2018.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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One Voice. One Vision. One Resource. The Mortgage Bankers Association (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.