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Volume 16 | Issue 105 | Friday, June 02, 2017

The Lede

 

Commercial Real Estate Embraces Technology--Cautiously

PHOENIX--The commercial real estate industry has been slower to adopt some cutting-edge technologies such as e-signatures and online bill-paying than the residential sector, but it is making progress, executives said at the recent MBA Commercial/Multifamily Servicing and Technology Conference.

 

Top National News

 
2017 Rising Stars: Ashley Gunn

HousingWire, June 1, 2017
HousingWire magazine named Mortgage Bankers Association Associate Director Ashley Gunn a 2017 Rising Star.

Paulson, Blackstone Said to Back Plan to Free Fannie-Freddie

Bloomberg Markets, June 1, 2017--Light, Joe; Basak, Sonali
Paulson & Co. and Blackstone Group LP are among investors backing a proposal that Fannie Mae and Freddie Mac be recapitalized and released from U.S. control without legislation. MBA President David Stevens said his group doesn't believe Moelis's proposal would sufficiently reform the market.

Mortgage Bankers Criticize GSE Shareholder Plan

Mortgage Daily, June 1, 2017
"This proposal is clearly self-serving and designed to confuse unsuspecting, innocent taxpayers into supporting a plan that is intended to line the pockets of hedge funds who invested in Fannie and Freddie," MBA President and Chief Executive Officer David Stevens said.

Mortgage Rates Slide to Fresh 2017 Low as Inflation Slips Through Fed's Fingers

MarketWatch, June 1, 2017--Andrea Riquier
The benchmark rate for home loans remained in free fall in the most recent week after lackluster economic data implied the Federal Reserve may be slower to raise interest rates than it expects, mortgage provider Freddie Mac said Thursday.

From Bitcoin to Blockchain: How the New Ledger Tech Can Morph the Mortgage Industry

HousingWire, June 1, 2017--Hoffman, Debbie; Oguz, Matt
Blockchain has morphed into a technology tool that can be utilized across industries in a variety of capacities, including in mortgage lending.

How Real Estate Investors are Navigating a "Fully Priced" Market

National Real Estate Investor, June 1, 2017--Diana Bell
This year the commercial real estate sector has seen an increase in flight-to-quality strategies, a widened bid-sell gap and uncertainty related to the effects of monetary policy. It appears the industry may be coming to terms with a slowing market.

Monthly Agency MBS Issuance Rises

Mortgage Daily, June 1, 2017
Monthly securitizations of single-family loans backed by the agencies moved up from a month earlier but retreated compared to a year earlier.

Fed Buys $4.2 Billion of Mortgage Bonds, Sells None

Reuters, June 1, 2017
The Federal Reserve bought $4.1 billion of agency mortgage-backed securities in the week from May. 25 to May. 31, compared with $5.2 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.

Stonegate Acquisition a Done Deal

Mortgage Daily, June 1, 2017
After less than four years as an independent, publicly traded company, Stonegate Mortgage Corp. has, itself, been acquired.

Movement Mortgage Premieres Zero Down Payment Mortgages for First-Time Homebuyers

HousingWire, June 1, 2017--Brena Swanson
To make it so homebuyers put 0% down but still have equity, Movement Mortgage said it will provide grants up to 3% of a home's sales price, thus creating 97% conventional financing.

Wells Fargo Shakes Up Mortgage Sales Leadership Team

HousingWire, June 1, 2017--Brena Swanson
Wells Fargo Home Lending named Liz Bryant as head of the company's retail sales organization, effectively immediately. Meanwhile, Wells Fargo also announced Greg Gwizdz, Drew Collins and Sandy Streator are no longer with the company.

Guild Mortgage Launches a 1% Down Loan Program

National Mortgage News, June 1, 2017--Bonnie Sinnock (subscription)
Guild Mortgage in San Diego has launched a 1%-down loan program to court millennial borrowers, who tend to lack down-payment resources and have higher debt-to-income ratios.

Residential Finance News

 
Survey: Lenders Optimistic Policy Changes Could Benefit Lending Environment

Lenders One Cooperative, St. Louis, released a survey in which a large majority of lenders (73 percent) believe the new administration's policies will have a positive impact on the lending environment.

Colorado Springs ‘Top Mover' in 1Q

Using data collected from purchase loan applications on residential real estate transactions, ATTOM Data Solutions, Irvine, Calif., identified Colorado Springs, Colo., as the hottest housing market in the first quarter.

Commercial/Multifamily News

 
C&W: Transaction Volumes Likely to Decelerate

U.S. commercial property sales could approach $450 billion in 2017, down from last year's $494.1 billion, reported Cushman & Wakefield, New York.

Dealmaker: Passco Cos. Acquires Multifamily, Retail Assets for $67M

Passco Cos., Irvine, Calif., acquired Pearce at Pavilion, a 250-unit Class A multifamily community in Riverview, Fla., for $49.7 million.

MBA News

 
Today in MBA Insights

New in today's issue of MBA Insights: Lori Brewer of LBA Ware, Macon, Ga., says despite the Consumer Financial Protection Bureau's 2014 changes to loan originator compensation requirements under the Truth in Lending Act, there is still tremendous flexibility in how lenders can legally compensate their LOs.

MBA State & Local Workshop June 19-20

The Mortgage Bankers Association's annual State & Local Workshop takes place June 19-20 in Washington, D.C. in conjunction with the MBA National Advocacy Conference.

MBA Education Advanced Servicing Workshop in Jacksonville Aug. 2-3

MBA Education presents its popular Advanced Servicing Workshop Aug. 2-3 at Black Knight Financial Services in Jacksonville, Fla.

International Union for Housing Finance World Congress Comes to Washington in June

The 30th World Congress of the International Union for Housing Finance takes place in Washington, D.C. June 25-27. MBA members can obtain a special discount registration rate.

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.