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Volume 16 | Issue 218 | Wednesday, November 08, 2017

The Lede


House Passes MBA-Supported Bill Clarifying Commercial Real Estate Loans Act

The House, by voice vote yesterday, passed H.R. 2148, the Clarifying Commercial Real Estate Loans Act, which had strong support from the Mortgage Bankers Association.


Residential Finance News

Applications Flat in MBA Weekly Survey

Mortgage applications remained unchanged from one week earlier as key interest rates fell, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 3.

MBA Education Honors Smolik with Willis Bryant Award

MBA Education presented its 2017 Willis Bryant Award to Steven Smolik, Business Advisor with USAA, San Antonio, Texas.

CoreLogic: Nearly Half of Large Housing Markets Overvalued

CoreLogic, Irvine, Calif., said home prices rose by nearly 1 percent month over month and by 7 percent from a year ago, but warned that nearly half of U.S. housing markets are "overvalued."

Commercial/Multifamily News

CBRE Lending Momentum Index Slips in Q3, Up Year-Over-Year

Commercial real estate lending markets fell in the third quarter amid rising equity prices, limited volatility and tightening spreads, reported CBRE, Los Angeles.

Dealmaker: Marcus & Millichap Closes $26M in Hotel, Retail Deals

Marcus & Millichap, Calabasas, Calif., arranged $15.9 million for two Apopka, Fla. hotel properties, an 81-room Hampton Inn & Suites and a 77-room Holiday Inn Express & Suites.

MBA News

MBA Independent Mortgage Bankers Conference Jan. 22-25

The Mortgage Bankers Association's Independent Mortgage Bankers Conference takes place Jan. 22-25 at the Ritz-Carlton on Amelia Island, Fla.

MBA Education School of Loan Origination II Nov. 28-Dec. 14

MBA Education presents its popular School of Loan Origination II Instructor-Guided Online Course from Nov. 28-Dec. 14.

Save on Risk Management Consultations, Employee Screening Packages through MBA Member Advantage Program

Your MBA membership entitles you to discounts on services such as office supplies, car rental, shipping, employee benefit services and more though our affinity program, MBA Member Advantage.

Top National News

Meet Two Professionals on the Forefront of Pushing the Industry Forward

Mortgage Professional America, Nov. 7, 2017--Justin da Rosa
Earlier this year, the Mortgage Bankers Association launched mPact - a network for young professionals in the real estate industry. Ashley Gunn and Jordan Bucher of MBA discuss the program.

MBA: Mortgage Credit Availability Decreased in October

Mortgage Orb, Nov. 7, 2017--Patrick Barnard
Mortgage credit availability decreased 0.2% in October compared with September and fell to a score of 181.0 on the Mortgage Bankers Association's Mortgage Credit Availability Index.

MBA: Mortgage Interest Deduction Changes Will Spur 'Negative Impact' on Local Housing Makets

HousingWire, Nov. 7, 2017--Brena Swanson
As the future of tax reform remains a hot-button issue, the Mortgage Bankers Association continues to stress the importance of the mortgage interest tax deduction to Congress.

Homebuilders Press to Retain Mortgage Tax Credit

Scotsman Guide, Nov. 7 2017--Victor Whitman
NAHB's housing tax-credit idea has gained support from the nation's largest mortgage trade group, the Mortgage Bankers Association. MBA President David Stevens referenced it in a letter Monday to House Ways and Means Committee leaders.

Republican Tax Plan Would Slam California Housing Market

Wall Street Journal, Nov. 8, 2017--Laura Kusisto (subscription)
California's biggest housing markets figure to be among the losers if a Republican-sponsored tax overhaul becomes law, according to two analyses of local market data.

Tax Plan Seen Boosting U.S. Growth a Bit While Denting Housing

Bloomberg, Nov. 7, 2017--Steve Matthews, Catarina Saraiva
President Donald Trump's planned tax overhaul is likely to boost U.S. economic growth by about a quarter percentage point in 2018, yet it will also dent demand for housing and fail to lower the chances of a recession, according to a Bloomberg News survey.

Capital One Closing Mortgage Business

Dallas Morning News, Nov. 7, 2017--Melissa Repko
Banking and financial services company Capital One Financial Corp. announced Tuesday that it will lay off about 950 people in Plano, Texas, as it exits the mortgage and home equity business and closes a call center.

FHA Losing Customers Rapidly as Premiums Spur Refinancing

National Mortgage News, Nov. 7, 2017--Brian Collins (subscription)
The Federal Housing Administration's financial health is benefiting from continued reductions in delinquencies and foreclosures, but the FHA is also losing some of its best customers at a fast clip.

Zillow Just Had Its Best Quarter Ever

HousingWire, Nov. 7, 2017--Ben Lane
In the third quarter, Zillow's revenue rose 25% to a record $281.8 million from $224.6 million in the third quarter of 2016. The news as good all over the board for Zillow, as each of its segment's saw revenue climb in the third quarter.

Millennial Home Buyers Send a Chill Through Rental Markets

Wall Street Journal, Nov. 7, 2017--Peter Grant, Laura Kusisto
Rising homeownership is adding to the jitters in the residential rental market, which has slumped recently after a long stretch near the top of the commercial real estate industry.

Optimism About Housing Market Dampened by End of Buying Season

National Mortgage News, Nov. 7, 2017--Brad Finkelstein (subscription)
With the end of the summer home buying season, consumers were less optimistic that it was a good time to purchase or sell a home in October.

FICO: How to Serve the Credit-Invisible Even if the GSEs Don't Change Credit-Scoring Models

HousingWire, Nov. 7, 2017--Brena Swanson
While changes to the government-sponsored enterprises' credit scoring models, at the earliest, are expected to happen in the second half of 2019, this leaves the credit invisible market in a lurch when it comes to buying a home until then.

Mortgage CFOs, CIOs and Presidents Appointed

Mortgage Daily, Nov. 7, 2017--Sam Garcia
Mike Roemer has been named chief compliance officer of Wells Fargo & Co., a statement last month said. He held the same position at is prior job with Barclays.

PRMI Lending Slows as Servicing Slips

Mortgage Daily, Nov. 7, 2017
Residential loan production slowed at Primary Residential Mortgage Inc., with the servicing portfolio trimmed and payroll reduced.

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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