Thomas Kim firstname.lastname@example.org
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
FHA Announces Short-Term Extension of Federal Financing Bank Risk Share Initiative
Last week FHA announced that it would extend its Multifamily risk-sharing initiative with the Federal Financing Bank for eligible Housing Finance Agencies through December 31.
The initiative was originally scheduled to cease accepting new applications for commitments from HFAs on September 30, but will now accept new applications for commitments under this initiative through the end of the year, up to the current program maximum of $3 billion. FHA intends to review the program's effectiveness, and whether market conditions justify its continued operation. The results of this review will determine whether and in what form FHA would continue the program beyond December 31. If the program is extended for a limited time period beyond 2018, HUD would identify the parameters under which it would be phased out.
For more information, contact Sharon Walker at email@example.com.
MBA Forms Working Group to Develop Comments in Response to OCC Proposed CRA Reforms
Earlier this month, the Office of the Controller of the Currency published an Advanced Notice of Prosed Rulemaking (ANPR) "seeking comment on the best ways to modernize the regulatory framework implementing the Community Reinvestment Act."
The notice provides an opportunity to provide input prior to any firm agency proposal, while the banking agencies are still developing possible proposed changes. MBA is working to examine the ANPR and develop comments on possible CRA improvements, including possible changes with respect to treatment of commercial and multifamily lending.
To ensure we address MBA members' interests, ideas and concerns, MBA has formed a CRA working group. If you would like to weigh in on the proposal or become involved in the working group, contact Bruce Oliver at firstname.lastname@example.org or Grant Carlson at email@example.com.
MBA Holds Meetings with the Insurance Conclave and the Insurance Stakeholders Roundtable
Last week MBA held meetings with the Insurance Conclave and the Insurance Stakeholders Roundtable. These groups meet frequently to share knowledge and promote industry standards for commercial mortgage insurance. Topics covered this year included impacts of sea level rise, builder's risk insurance, international insurance considerations, insurable values and waivers.
We appreciate the sixty professionals representing over forty firms who joined us in Long Island. Thanks to Harbor Group for sponsoring this year's gathering. For more information, contact Kathy Marquardt at firstname.lastname@example.org.
HUD and GSA Partner in IT Centers of Excellence Initiative
Last Tuesday, HUD and the U.S. General Services Administration announced they will work together as a part of the GSA's Centers of Excellence initiative to improve HUD's information technology.
The CoE initiative is intended to "accelerate the modernization of information technology across the federal government by leveraging private sector innovation and existing government services while centralizing best practices and expertise."
MBA has been advocating for increases in HUD's technology budget and is actively working with HUD to improve the technology tools MBA members' use, most recently working to improve HUD's CNA eTool. For more information, contact Sharon Walker at email@example.com.
CREF19 Registration Open
Registration is open for MBA's 2019 Commercial Real Estate Finance/Multifamily Housing Convention & Expo, taking place at the Manchester Grand Hyatt in San Diego February 10-13, 2019. Register before November 1 to receive an early registration discount. In addition, MBA members 35 years or younger are eligible to receive a substantial discount on registration for CREF19.
For more information or to register, visit MBA's website.
MBA Education Accepting Applications for the 2019 Commercial/Multifamily Future Leaders Program
MBA Education is now accepting applications for the 2019 Commercial/Multifamily Future Leaders program. This executive leadership development program delivers a comprehensive curriculum for selected managers who have shown leadership interests and abilities. Participants enhance their skills through three hands-on sessions geared toward customized assessments of leadership skills and their strategic application; business analysis and problem solving; and experiential learning through collaboration, networking and peer group interaction.
New this year is an optional executive coaching program add-on with Future Leaders instructor, Sam Davis. This coaching add-on is comprised of six one-on-one sessions over a six-month period tailored to the specific business goals and development needs of the individual.
Apply online at http://www.mba.org/futureleaders.
MBA Education's Webinar on Commercial Insurance Compliance
Join MBA Education on October 18 for an overview on the latest with commercial/multifamily insurance compliance. This webinar will detail the best practices to be followed in order to satisfy the various constituencies in this sector. Each capital source has their own unique set of insurance requirements, and even though each lender (with minor exceptions) requires the same set of insurance policies, each entity has their own perspective as to what is important about each coverage part.
This seminar will put a framework around the high level differences between the various GSE's insurance requirements.
To register for this webinar, click here. For more information, contact Laura Vanegas at LVanegas@mba.org.
MBA CREF Connects NYC Event October 30th at Hudson Yards
MBA is hosting an after work event on October 30 at Hudson Yards in New York City. Join MBA staff and your peers for an exclusive evening at Hudson Yards! Enjoy appetizers and drinks while you take in spectacular views from the Hudson Yards Experience Center.
For more information contact Andrew Foster firstname.lastname@example.org or click here to RSVP.
mPact Fall Fundraising Event Announced in Chicago, Dallas, and New York City
mPact is hosting various networking events in the upcoming months to raise awareness and funds for the MBA Opens Doors Foundation which provides mortgage and rental assistance to families caring for a critically ill or injured child. These events are exclusively for individuals looking to make a difference in the world around them while engaging and reconnecting with peers and MBA staff. An additional event in New York City will be announced soon.
In CHICAGO: Happy Hour at Lagunitas Brewery Tap Room on October 30 from 5:30 PM - 8:30 PM at 2607 West 17th Street in Chicago. Cover: $10 suggested donation online or at the door. Contact: Jeff Staffeldt or click here to RSVP.
In DALLAS: Networking Social at the British Beverage Company October 23 at 2800 Routh Street, Dallas. Cover: $15 suggested donation online or at the door; each donation includes one free drink and a raffle ticket for top shelf spirits donated by local distributors. Contact: Mukesh Patel or click here to RSVP.