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Volume 16 | Issue 208 | Wednesday, October 25, 2017

The Lede


MBA Forecast: 2018 Purchase Originations to Increase to $1.2 Trillion

DENVER--The Mortgage Bankers Association projects 2018 purchase originations to reach $1.167 trillion, a 7.3 percent increase from 2017.


Residential Finance News

Applications Back Down in MBA Weekly Survey

Mortgage applications fell for the fifth time in six weeks as key interest rates crept up, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending October 20.

Lenders, Real Estate Agents Top Online Sources as Mortgage Influencers--For Now

While consumers increasingly go online to get information for a wide variety of shopping experiences, Fannie Mae, Washington, D.C., said for mortgage information, person-to-person engagement still plays the key role.

Commercial/Multifamily News

MBA Future Leaders Program Graduates 34 Commercial/Multifamily Real Estate Finance Professionals

DENVER--The Mortgage Bankers Association recognized 34 commercial/multifamily market segment professionals in a graduation ceremony for the MBA Future Leaders Program here at its Annual Convention & Expo.

New York, Los Angeles Among World's Largest Investment Markets

Tokyo, New York and Los Angeles represent the world's largest commercial real estate investment markets, with the global stock of investable assets standing at $27.5 trillion, reported CBRE and Cushman & Wakefield.

Dealmaker: Barry Slatt Mortgage Secures $51M

Barry Slatt Mortgage, Los Angeles, secured $50.7 million for hotel, multifamily, office and retail assets.

MBA News

Today at the MBA Annual Convention & Expo

The Mortgage Bankers Association's Annual Convention & Expo, The One, concludes this morning, Oct. 25, with two special sessions.

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 Residential Mortgage Banking for IT Professionals Workshop Nov. 1

MBA Education presents its popular workshop, Residential Mortgage Banking for the IT Professional, on Wednesday, Nov. 1 from 9:00 a.m.-5:00 p.m. ET, at Blend headquarters in San Francisco.

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.

Top National News

U.S. Mortgage Supply Seen Falling in 2018: MBA

Reuters, Oct. 24, 2017--Richard Leong
U.S. lenders are expected to issue a smaller amount of mortgages in 2018 on a sharp drop in refinancing demand, but loan originations will pick up in 2019, the Mortgage Bankers Association said on Tuesday.

FHFA's Watt Defends URLA Language Preference Update

National Mortgage Professional, Oct. 24, 2017--Phil Hall
Federal Housing Finance Agency Director Mel Watt used his appearance at the Mortgage Bankers Association's Annual Convention to defended his agency's decision to include a new language preference question in the upcoming Uniform Residential Loan Application.

MBA Experts on GSE Reform: Where Does Risk Fall When it Comes to Reform?

HousingWire, Oct. 24, 2017--Brena Swanson
As conservations have slowly shifted from almost a joke to more of a serious possibility under the new administration, several experts at the Mortgage Bankers Association's 2017 annual convention and expo weighed in on the probability reform and what lies ahead for reform.

MBA Economists: Here's What Mortgage Rates Are Going To Do in 2018 and Beyond

HousingWire, Oct. 24, 2017--Ben Lane
According to the top economists at the Mortgage Bankers Association, mortgage rates will rise in the next few years, past 4% and even past 5%.

Mortgage Bankers Boost Outlook Nearly $200 Billion

Mortgage Daily, oct. 24, 2017
The Mortgage Bankers Association, which disclosed its latest expectations in its MBA Mortgage Finance Forecast, raised its fourth-quarter prediction from $370 billion in last month's outlook, while the first-quarter 2018 projection increased from $345 billion.

Buyers Should Expect Rising Mortgage Rates Through 2020, Economist Tells Bankers Gathered in Denver

Denver Post, Oct. 24, 2017--Aldo Svaldi
Borrowers may see rates ratchet up in the months and years ahead, said Michael Fratantoni, Chief Economist with the Mortgage Bankers Association.

Four Questions as Senate Vote Nears on CFPB Arbitration Rule

National Mortgage News, Oct. 24, 2017--Kate Berry, Ian McKendry (subscription)
The GOP appears to have barely enough votes to roll back the contentious CFPB rule, and floor debate was expected to begin Tuesday with a final vote possible at any time. But victory was not assured, as key GOP senators were still a question mark.

Higher Costs, MSR Loss Weigh Down Flagstar's Quarterly Results

American Banker, Oct. 24, 2017--John Reosti (subscription)
Flagstar Bancorp in Troy, Mich., reported lower earnings after higher expenses and a loss tied to mortgage-servicing rights offset revenue from commercial loan growth.

HELOC Production Forecasted to Double

Mortgage Daily, Oct. 24, 2017
Origination of new credit lines secured by residential properties is expected to double over the next five years thanks to improving market conditions, said TransUnion.

Lord & Taylor Sells NYC Flagship Store for $850M

Wall Street Journal, Oct. 24, 2017--Suzanne Kapner, Eliot Brown (subscription)
Lord & Taylor is selling its flagship New York City store for $850 million, a move that will convert most of the landmark building into office space and the headquarters of real estate startup WeWork Cos.

Big Mall Operator Does the Unthinkable--Builds a Mall

Wall Street Journal, Oct. 24, 2017--Suanne Kapner (subscription)
On a bright August morning, GGP Inc., one of the country's largest mall operators, did the unthinkable. It broke ground on a new shopping mall, a seemingly risky bet in a world where retailers are closing hundreds of stores and malls across the country are trying to reinvent themselves. It could be one of the last enclosed malls ever built in the U.S.

How New Tax Bill Could Affect Property Taxes, Mortgage Interest

Chicago Tribune, Oct. 24, 2017--Kenneth Harney
The political jostling and frenetic lobbying on Capitol Hill over the Republican tax overhaul bill are producing unexpected developments that could prove important to homeowners, sellers and buyers.

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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