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Volume 15 | Issue 238 | Friday, December 09, 2016

The Lede


3Q Home Equity Up $726 Billion from Year Ago

CoreLogic, Irvine, Calif., said U.S. homeowners with mortgages (63 percent of all homeowners) saw their equity increase by $227 billion in the third quarter from the previous quarter, an increase of 3.1 percent.


Top National News

Nonbank Loan Profits Rise

Scotsman Guide, Dec. 8, 2016--Whitman, Victor

The net gain per loan increased to $1,773, up 5 percent from the second quarter average of $1,686 per loan, according to the Mortgage Bankers Association.

Home Equity Improves as Average LTV Drops

Mortgage Daily, Dec. 8, 2016

As of Sept. 30 of this year, the aggregate principal balance of U.S. residential loans that were outstanding amounted to $9.249 trillion.

Donald Trump Cabinet Picks Signal Deregulation Moves Are Coming

Wall Street Journal, Dec. 8 2016--Timiraos, Nick; Tangel, Andrew

Business leaders are predicting a dramatic unraveling of regulations on everything from overtime pay to power-plant emission rules as Donald Trump seeks to fill his cabinet with determined adversaries of the agencies they will lead.

GSE Risk-Sharing Deals Would Be Boosted Under New Bipartisan Bill

National Mortgage News, Dec. 8, 2016--McKendry, Ian

A bipartisan duo of House lawmakers introduced a bill Thursday that would push Fannie Mae and Freddie Mac to engage in more credit risk-sharing transactions.

Moody's: Privatizing Fannie Mae, Freddie Mac Would Cost 'Hundreds of Billions'

HousingWire, Dec. 8, 2016--Lane, Ben

According to a new report from Moody's Investors Service, privatizing the GSEs is not only unlikely to happen any time soon, it's also hugely cost-prohibitive, and it would be a negative for bond investors as well.

Fidelity National to Divest Its Majority Stake in Black Knight

National Mortgage News, Dec. 8, 2016--Passy, Jacob

Fidelity National Financial plans to distribute the stock it owns in Black Knight Financial Services to its shareholders as part of a plan to simplify the corporate structure of the two companies and increase Black Knight's liquidity.

U.S. Housing Recovery Leaves Many Behind as Credit Restrictions Squeeze Out Key Lending Segments

GoRion, Dec. 8, 2016--Bourgi, Sam

The U.S. housing recovery has left many borrowers behind, as stricter lending guidelines make it virtually impossible for certain segments of the market to obtain financing.

Lenders: Get Out of Your Own Way to Go Digital

National Mortgage News, Dec. 8, 2016--McElroy, Mark

Pavaso CEO says the only thing keeping the mortgage industry from moving into the age of digital mortgages is the mortgage industry.

Mortgage Rates Jump to a New High for 2016

USA Today, Dec. 8, 2016--Bomey, Nathan 

Mortgage rates ticked up to a high for 2016 as as anticipation of higher inflation under President-elect Donald Trump's administration and a Federal Reserve interest rate hike next week drove the cost of borrowing higher.

$1 Bil in Home Lending at Marketplace Lender

Mortgage Daily, Dec. 8, 2016

LendingHome Funding Corp. opened its doors in October 2013. Since its launch, it has raised more than $100 million in equity financing.

2017 NMLS Renewal Activity Robust

Mortgage Daily, Dec. 8, 2016

Out of the 581,000 licenses managed through NMLS, nearly 63 percent had been submitted for 2017 renewal as of the end of last month.

Here's the Real Danger to the Recovering Housing Market

HousingWire, Dec. 8, 2016--Ramirez, Kelsey

Next year could bring a new danger to the housing market via raising interest rates, according to Mark Fleming, First American senior vice president and chief economist. Supply for first-time buyers will be in greater demand than ever.

Why More Mass Deportations Would Be Bad News for the Housing Market

New York Times, Dec. 8, 2016--Badger, Emily

Right around the time foreclosures were starting to pile up in the housing crash, on their way to affecting nearly one in five home-owning Hispanic households, the very same communities took a second blow.

Russians Flock to U.S. Real Estate After Trump Victory

CNN, Dec. 8, 2016--Kottasova, Ivana 

Wealthy Russians are looking to spend big on U.S. real estate in the wake of Donald Trump's election victory.

Residential Finance News

MAA Steering Committee Elections Underway; Deadline Dec. 16

The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, has opened the voting period for election of three at-large seats on its 2017 Steering Committee through Friday, Dec. 16.

Freddie Mac Implements Release 1 of Common Securitization Platform

Freddie Mac announced yesterday that it successfully implemented Release 1 of the Common Securitization Platform.

Compliance Management Systems Will Get New Scrutiny from Regulators

Donald Trump's surprise victory has understandably created a great deal of speculation as to what the regulatory landscape will look like going forward. But while our industry has been absorbing this news, they may have missed some important signals that suggest regulators, in the near term, will be taking a much harder look at compliance management systems in upcoming examinations.

Commercial/Multifamily News

Marcus & Millichap: Investors 'Re-Evaluate' Transactions Amid Shifting Landscape

A sharp increase in 10-year U.S. Treasurys and expectations of tax code changes next year has encouraged many investors to reassess their strategies, reported Marcus & Millichap, Calabasas, Calif.

Dealmaker: Thorofare Capital Lends $33M in Colorado, California

Thorofare Capital, Los Angeles, provided Hayman Properties LLC with $19.8 million in first mortgage debt to acquire and lease up Parkway Office Centre, a 134,500-square-foot Class B office building in Denver.

MBA News

CREF Returns to San Diego Feb. 19-22

Four Days of Networking, Relationship-Building, Dealmaking

MBA Education Foundational Concepts in Residential Mortgage Servicing Workshop Feb. 14

Held in Conjunction with MBA National Servicing Conference & Expo

MBA Education Update on Recent Activity and Managing Consumer Complaints Webinar Dec. 12

Regulatory Requirements, Fundamentals and Practices for Handling Complaints

MBA Education Compliance Essentials HMDA Overview/Q&A with Experts Dec. 13

Learn How Changes to Home Mortgage Disclosure Act Affect Your Business

About MBA Newslink

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Publisher: Marcia Davies, Chief Operating Officer

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Editor: Mike Sorohan 202/557-2855 

Editorial Director: Michael Tucker 202/557-2851 

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