CREF Highlights

Thomas Kim tkim@mba.org

September 06, 2018


OCC
Seeks Comments on "Modernizing Community Reinvestment Act Regulations"
Last Tuesday, the Office of the Controller of the Currency released an Advanced Notice of Prosed Rulemaking (ANPR) "seeking comment on the best ways to modernize the regulatory framework implementing the Community Reinvestment Act."

The Community Reinvestment Act, passed in 1977, has gone through a number of revisions since its enactment. The OCC has indicated it wants to "solicit industry input in order improve our approach to the CRA so that insured depository institutions continue to meet the credit needs of their communities, including those in [low- and moderate-income] neighborhoods, consistent with the safe and sound operation of these institutions." MBA is working to examine the ANPR and develop comments which are due 75 days after publication in the Federal Register.

For additional information or to weigh in on the proposal contact Bruce Oliver at boliver@mba.org or Grant Carlson at gcarlson@mba.org. 

BCFP issues HMDA interpretive rules to implement recent legislative changes
Last week the Bureau of Consumer Financial Protection issued an interpretive and procedural rule to implement the Home Mortgage Disclosure provision of the Economic Growth, Regulatory Relief and Consumer Protection Act, which became law in May. The rule clarifies how HMDA applies to the insured depository institutions and insured credit unions covered by the partial exemption from HMDA reporting resulting from the Act. The Bureau anticipates incorporating these interpretations into Regulation C in a future notice-and-comment rulemaking.

For additional information, contact Bruce Oliver at boliver@mba.org

MBA Releases 2018 Mid-Year Commercial/Multifamily Servicer Rankings
MBA recently released its mid-year ranking of commercial and multifamily mortgage servicers' volumes. The listings provide information on the number and aggregate unpaid principal balance of loans that firms service across different capital sources and servicing roles. More than 100 commercial and multifamily mortgage servicing firms participated in this year's mid-year update. At the top of the list of firms are Wells Fargo Bank, NA, PNC Real Estate/Midland Loan Services, KeyBank National Association, Berkadia Commercial Mortgage LLC and CBRE Loan Services.

To download MBA's Mid-Year Servicer Rankings, free of charge, please go here.

If you have questions regarding commercial/multifamily research from MBA, or would like to participate in one of our surveys, email us at crefresearch@mba.org.

For more information, contact Reggie Booker at rbooker@mba.org or Jamie Woodwell at jwoodwell@mba.org.

MBA to Host Call on Single-Family Rental Finance
MBA will host a call of its Single-family Rental (SFR) Finance Council on Monday, Sept. 10, 2018.  Speakers on the call will include staff from the Federal Housing Finance Agency to discuss their recent announcement that Fannie Mae and Freddie Mac will conclude their SFR pilot programs; John Pawlowski from Green Street Advisors to discuss the latest trends and conditions in the SFR market; and Beth O'Brien, Founder and CEO of Corevest, to discuss their experience operating in both the Agency and non-Agency markets. 

If you would like additional information about the call or MBA's SFR Finance activities, contact Jamie Woodwell at jwoodwell@mba.org.

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 Feb. 10-13, 2019. Register before Nov. 1, 2018 and 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 Now's CREF Corner Office Conversation with Shekar Narasimhan, CMB
In MBANow's inaugural CREF Corner Office Conversations, Shekar Narasimhan, CMB, shares his perspective on trends in the commercial real estate finance market. Narasimhan highlights his views on M&A activity and the multifamily market in this cycle. For more information, contact Andrew Foster at afoster@mba.org

Guide Released on Managing Insurance Issues for Natural Disasters 
MBA's Servicer Council Business Strategies Committee published "Insurance: Responding to Natural Disasters and Other Catastrophic Events." The guide serves as a resource for servicers, lenders/investors, senior management and other stakeholders. It represents efforts to memorialize industry practices with respect to the steps necessary to prepare for and respond to natural disasters and other catastrophic events. Melissa Poppinga with Situs Asset Management chaired the committee which was made up of commercial mortgage servicing professionals with expertise in insurance issues.

For more information, contact Andrew Foster at afoster@mba.org.

Senate Votes to Confirm Fed Vice Chair Nominee Clarida
The Senate voted last week to confirm Richard Clarida as vice chair of the Federal Reserve. Clarida, a managing director and fund manager at Pimco and an economics professor at Columbia University, was nominated by President Trump in April. He was confirmed by a vote of 69-26 and will serve as No. 2 to Fed Chairman Powell until his term ends in February 2022.

For additional information contact Bruce Oliver at boliver@mba.org

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. Early bird registration ends September 7th.

Apply online at http://www.mba.org/futureleaders.

MBA Education's Commercial Loan Origination Sales Training Workshop
Join MBA Education in New York City on September 18 and 19 for a hands-on workshop designed to help individuals acquire the skills needed to be effective and productive in commercial real estate sales. Attendees will be exposed to the origination process including how the origination process works, who the players are and their roles in origination. Instructors will explore how to analyze a borrower's request and select an appropriate capital source.

On the second day, the conversation will focus on sales training and how to develop a successful business by learning well-established sales practices, identify the needs of each client, hone in on individual marketing styles and learn strategies that successful mortgage bankers utilize to close the deal.

To register for this workshop, click here. For more information, contact Laura Vanegas at LVanegas@mba.org.

mPact Fall Fundraising Events Announced in D.C. and Chicago
mPact is hosting four 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.

In WASHINGTON, DC: Nationals vs. Mets Game on September 20 at Mission Navy Yard, 1221 Van St SE, Washington, DC 20003. Happy Hour: 5:00 PM | Game: 7:05 PM
Tickets: Purchase a ticket for $50 and 100% will go to Opens Doors. Purchase online and present your receipt at happy hour to get your game ticket. Cover: $5 suggested donation online or at the door. For more information contact Rita Kelly or click here to RSVP.

In CHICAGO: Happy Hour at Lagunitas Brewery Tap Room on October 30 from 5:30 PM - 8:30 PM at 2607 West 17th Street, Chicago, IL 60608. Cover: $10 suggested donation online or at the door. Contact: Jeff Staffeldt or click here to RSVP.

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