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Volume 16 | Issue 227 | Wednesday, November 22, 2017

The Lede


Applications Up Slightly in MBA Weekly Survey

Mortgage applications increased from one week earlier as an uptick in purchase applications offset a decrease in refinancings, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 17.


Residential Finance News

MBA Offices Closed Today, Thursday, Friday

Offices of the Mortgage Bankers Association are closed today, Wednesday, Nov. 22, for the Thanksgiving holidays and will remain closed on Thursday, Nov. 23 and Friday, Nov. 24.

Existing Home Sales Post 2% October Growth

Existing home sales rose by 2 percent in October, but dwindling inventories continued to hamper closings, the National Association of Realtors said yesterday.

Low Supply Keeps Market Below Potential

The housing market has been underperforming its potential since May, said First American Financial Corp., Santa Ana, Calif.--and it's only getting worse.

Commercial/Multifamily News

FHFA Shrinks Fannie Mae, Freddie Mac Multifamily Lending Caps

Fannie Mae and Freddie Mac multifamily lending caps will shrink slightly in 2018, the Federal Housing Finance Agency announced yesterday.

Dealmaker: MetLife Investment Management Lends $169M on Office, Multifamily

MetLife Investment Management, New York, lent $169.2 million on office and multifamily properties in Florida and Georgia.

MBA News

MBA Premier Member Profile: Hilltop Advisors

Hilltop Advisors is a mortgage consulting firm that is an affiliate of The Hilltop Companies group.

MBA Summit on Diversity and Inclusion Dec. 4-5

The Mortgage Bankers Association's annual Summit on Diversity & Inclusion takes place Dec. 4-5 at the Capital Hilton in Washington, D.C.

MBA Education Foundational Concepts in Residential Mortgage Servicing in Dallas Feb. 6

MBA Education presents a workshop, Foundational Concepts in Residential Mortgage Servicing, on Tuesday, Feb. 6 in Dallas in conjunction with the Mortgage Bankers Association's National Servicing in Mortgage Banking Conference & Expo.

MBA Education School of Mortgage Banking III in California Dec. 12-15

MBA Education offers its School of Mortgage Banking III from Dec. 12-15 at New American Funding in Santa Ana, Calif.

Top National News

NAMB and MBA Seek Industy Support on Congressional Legislation

National Mortgage Professional, Nov. 21, 2017--Phil Hall
The Mortgage Bankers Association's (MBA) Mortgage Action Alliance called for industry professionals to lobby on behalf of S. 2155, The Economic Growth, Regulatory Relief and Consumer Protection Act.

CFPB Approves Redesigned Mortgage Application

Mortgage Daily, Nov. 21, 2017
The Consumer Financial Protection Bureau approved a redesigned Uniform Residential Loan Application to be used by Fannie Mae and Freddie Mac.

PHH vs. CFPB: Cordray Won't Be Around to See the Outcome of the Case

HousingWire, Nov. 21, 2017--Brena Swanson
The case questions whether the structure of the CFPB is unconstitutional, with PHH arguing that the bureau's director has too much power and that the bureau operates without supervision or oversight.

Hurricanes Drive October's Increase in Late Mortgage Payments

National Mortgage News, Nov. 21, 2017--Brad Finkelstein (subscription)
Late payments from borrowers living in areas hardest hit by Hurricanes Harvey and Irma were responsible for October's increase in loan delinquencies, said Black Knight.

Flagstar Has Survived--Now It Must Reinvent Itself

National Mortgage News, Nov. 21, 2017--Jackie Stewart (subscription)
Recent years have been profitable, affording Flagstar more room to reinvent itself by making more commercial-and-industrial loans and diversifying its real estate book.

Ocwen Announces Millions in New Mortgage Debt Forgiveness in Ohio

DS News, Nov. 21, 2017--David Wharton
Financial services holding company Ocwen announced in November that it had worked closely with various nonprofit agencies to forgive $14.6 million in mortgage debt for struggling Ohio homeowners.

Mall Owners Ramp Up Holiday Spending in an Era of Diminished Expectations

Wall Street Journal, Nov. 21, 2017--Esther Fung (subscription)
The biggest mall and mixed-use center landlords across the U.S. are digging deep into their pockets to attract customers this holiday season. But they are under no illusion their efforts will bring windfalls to them or their tenants.

Gap Widens as Housing Market Continues to Underperform

National Mortgage News, Nov. 21, 2017--Elina Tarkazikis (subscription)
The housing market has been underperforming its potential since May, and October's performance gap was the largest it's been since November of last year, according to First American Financial Corp.

2018 Purchase Gain Expected to Offset Refi Drop

Mortgage Daily, Nov. 21, 2017
iEmergent predicts a rise in expected home-purchase lending next year more than offsets an anticipated drop in refinances.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

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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