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Volume 16 | Issue 78 | Tuesday, April 25, 2017

The Lede


MBA, Trade Groups Offer Support for PACE Bills

More than two dozen industry trade groups joined the Mortgage Bankers Association in letters yesterday to support legislation that would modify consumer protection requirements for Property Assessed Clean Energy loans, also known as PACE loans.


Top National News

House Committee Considers Bill to Open Records at Fannie Mae and Freddie Mac

HousingWire, Apr. 24, 2017--Kelsey Ramirez
Under the bill, the GSEs would be directed to accept and process FOIA requests from the public and release information to satisfy those request for as long as they remain under federal conservatorship. However, this bill would only apply to the mortgage giants while they are under federal conservatorship, and the administration could be already looking at plans for GSE reform. The Mortgage Bankers Association recently released its roadmap to GSE reform that breaks down what it sees as the best option for reform.

Trump Wants Tax Plan to Cut Corporate Rate to 15%

Wall Street Journal, Apr. 24, 2017--Michael C. Bender, Richard Rubin, Nick Timiraos
President Donald Trump has ordered White House aides to accelerate efforts to draft a tax plan slashing the corporate rate to 15% and prioritizing cuts in tax rates over an attempt to not increase the deficit.

Four Tricky Issues in the Trump-Cordray Standoff

National Mortgage News, Apr. 24, 2017--Kate Berry (subscription)
President Trump and Consumer Financial Protection Bureau Director Richard Cordray appear locked in a game of chicken over his continued leadership of the agency.

Homes Were Slightly Less Affordable in February

National Mortgage News, Apr. 24, 2017--Brad Finkelstein (subscription)
A consumer's home purchase power only fell by 0.2% in February from January because wage growth has somewhat offset price increases, said First American Financial Corp.

Home Prices Reach Post-Recovery High: Black Knight

National Mortgage News, Apr. 24, 2017--Brad Finkelstein (subscription)
Home prices reached their highest level since the recovery started, according to Black Knight Financial Services.

Will Trump End Reverse Mortgages?, Apr. 24, 2017--Peter G. Miller
Reverse mortgages are in trouble. It's fair to say that reverse mortgages could well be gone under the Trump Administration.

Fraud Risk Increases Nationwide

DS News, Apr. 24, 2017--Seth Welborn
Mortgage fraud risk is up across the country, according to the CoreLogic National Mortgage Application Fraud Risk Index for the first quarter.

Retailers Are Going Bankrupt at a Record Pace

Bloomberg, Apr. 24, 2017--Kim Bhasin
In a little over three months, 14 chains have announced they will seek court protection, according to an analysis by S&P Global Market Intelligence, almost surpassing all of 2016.

Lots of Mortgage C-Suite Appointments

Mortgage Daily, Apr. 24, 2017--Sam Garcia
Quicken Loans Inc. said Monday it hired Casey Hurbis as its new chief marketing officer.

Servicing, Staffing Expand at Guild Mortgage

Mortgage Daily, Apr. 24, 2017
Although home lending slowed at Guild Mortgage Co., the size of the servicing portfolio and payroll were up from the prior quarter and a year prior.

Blend CEO on Why Lenders are Reluctant to Adopt Digital Mortgages

HousingWire, Apr. 24, 2017
Mortgage technology is growing so fast that Blend CEO Nima Ghamsari said in an interview, "You could probably with credibility say if you don't have this technology in three to four years your company will be suffering."

Residential Finance News

Study: Homeowners with ARMs Increased Spending Despite Drop in Home Values

Homeowners with adjustable-rate mortgages significantly increased their spending both before and after anticipated mortgage payment decreases, despite a substantial drop in their home values, according to data from The JPMorgan Chase Institute, Washington, D.C.

Clear Capital: Early Spring Thaw Begins in the West

Clear Capital, Reno, Nev., said as the spring buying season kicks in, one key region--the West--may be gearing up at just the right time.

Commercial/Multifamily News

Economists: 'Moderate' CRE Growth Through 2019

The U.S. economy and commercial real estate should experience "moderate" growth through 2019, said the Urban Land Institute, Washington. D.C.

Dealmaker: Barry Slatt Mortgage Arranges $43M in California

Barry Slatt Mortgage, San Francisco, arranged $43 million for four California mixed-use, multifamily, retail and office assets.

MBA News

Registration Open for MBA Annual Convention & Expo

The Mortgage Bankers Association's Annual Convention & Expo, THE ONE, takes place Oct. 22-25 in Denver; save $200 with early registration.

MBA Education School of Mortgage Banking I in Pewaukee, Wis. May 16-19

MBA Education presents its popular School of Mortgage Banking I at Waterstone Mortgage in Pewaukee, Wis. May 16-19.

MBA Education Benchmarking Yourself as a Mortgage Lender Webinar May 9

MBA Education presents a webinar, Benchmarking Yourself as a Mortgage Lender, on Tuesday, May 9 from 2:00-3:30 p.m. ET.

MBA Private Healthcare/Benefits Exchange for Member Companies

The Mortgage Bankers Association offers a private exchange for healthcare and other employee benefits for its member companies.

About MBA Newslink

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Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan 202/557-2855 

Editorial Director: Michael Tucker 202/557-2851 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856

Advertising Opportunities: Bill Farmakis 203/834-8832

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