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Volume 16 | Issue 191 | Wednesday, October 04, 2017

The Lede

 

Purchase Apps Up, Refi Apps Down in Latest MBA Weekly Survey

Mortgage applications fell for the third straight week as key interest rates held steady, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending September 29.

 

Residential Finance News

 
Notice of MBA 2017 Annual Meeting

The Mortgage Bankers Association will distribute electronic ballots for approval of Officers and Directors for the MBA Annual Meeting.

Chief Risk Officers Talk...Risk

MIAMI--Chief risk officers here at the Mortgage Bankers Association's Risk Management, QA and Fraud Prevention Forum shared what keeps them up at night.

MBANow: MBA SVP Bill Killmer on MAA Action Week

The Mortgage Bankers Association released two new MBANow videos featuring MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, who discusses the MBA Mortgage Action Alliance "Action Week" (Oct. 2-6).

CoreLogic: Home Prices Up 7%; 34% of Markets ‘Overvalued'

CoreLogic, Irvine, Calif., said home prices rose by nearly 1 percent from July to August and by nearly 7 percent from a year ago.

Redfin: Housing Demand Index Virtually Stalled Amid Continued Inventory Shortages

Redfin, Seattle, reported the number of its customers touring and writing offers held steady from July to August, but increased year over year.

Commercial/Multifamily News

 
Reis: Retail Sector Defies Negative Reports

Retail sector statistics defied otherwise negative reports of store closures--posting positive net absorption and holding vacancy steady in the second quarter--reported Reis, New York.

Dealmaker: Interstate Equities Acquires San Diego-Area Apartments for $34M

Interstate Equities Corp. Los Altos, Calif., acquired Verse La Mesa, a 133-unit apartment community in suburban San Diego, for $33.95 million.

MBA News

 
John Legend Highlights ConcertMBA at MBA Annual Convention & Expo

This year's Mortgage Bankers Association's Annual Convention & Expo, taking place Oct. 22-25 in Denver, welcomes Grammy Award-winning singer-songwriter John Legend for ConcertMBA.

MBA Education School of Loan Origination Oct. 16-Nov. 13

MBA Education presents its popular School of Loan Origination instructor-guided online course beginning Monday, Oct. 16 and running through Nov. 13.

MBA Compliance Essentials Acceleration Requirements for Mortgage Servicers Oct. 11

MBA Education and MBA Compliance Essentials present a webinar, Acceleration Requirements for Mortgage Servicers on Thursday, Oct. 11 from 2:00-3:30 p.m. ET.

Compliance Essentials Recent FCRA Regulation, Enforcement & Litigation Updates Webinar Today

MBA Education and Compliance Essentials will host a new webinar, Recent FCRA Regulation, Enforcement & Litigation Updates today, Oct. 5 from 2:00-3:30 p.m. ET.

Top National News

 
Homebuyers Rush to Riskier Mortgages as Home Prices Heat Up

CNBC, Oct. 3, 2017--Diana Olick
Home prices are heating up yet again, and that is sending more potential buyers looking for ways to afford a monthly mortgage payment.

Watt Suggests GSEs Need to Hold on to Some Capital, Urges Congress to Act on Housing Reform

HousingWire, Oct. 3, 2017--Brena Swanson
Federal Housing Finance Agency Director Mel Watt once again pressed Congress on the urgent need for housing finance reform due to the looming deadline of the government-sponsored enterprises' capital buffer timeline.

Wells Fargo CEO Defends Leadership in Heated Senate Appearance

Reuters, Oct. 3, 2017--Patrick Rucker, Dan Freed
Senators grilled Wells Fargo & Co. Chief Executive Tim Sloan on Tuesday about what he had done to change the bank's culture after a sales practices scandal erupted last year, with one senior Democratic lawmaker calling for his ouster.

Lawmakers Berate Former Equifax CEO Over Huge Data Breach

New York Times, Oct. 3, 2017--Tara Siegel Bernard, Stacy Cowley
Members of Congress tore into Equifax on Tuesday, berating the company's former chief executive for a breach of its computer systems that potentially exposed the sensitive personal information of more than 145 million Americans.

Private Flood Insurance Bill Avoids Costs of Floodplain Management

National Mortgage News, Oct. 3, 2017--Brian Collins (subscription)
While lawmakers appear eager to help develop private flood insurance as an alternative to the federal program, some are worried that private policies won't help support flood mapping and the enforcement of flood codes.

Investors Pile Into Emerging-Market Real Estate

Wall Street Journal, Oct. 3, 2017--Peter Grant (subscription)
Investors are showing more interest in commercial real estate in Asia, South America and other emerging markets, where growth trends and the lure of outsize returns overshadow the additional political and financial risks these regions can pose.

Five Things That Might Surprise You About the Fastest-Growing Segment of the Housing Market

Urban Institute, Oct. 3, 2017--Sarah Strochak
One of the most pronounced shifts in the housing market since the financial crisis has been the evolution of the single-family rental market. Today, single-family rentals (one-unit, attached and detached) account for 35 percent of the country's 44 million rental units, compared with 31 percent in 2006.

Biggest HECM Lenders

Mortgage Daily, Oct. 3, 2017
The volume of HECM activity moved down from the preceding month, when FHA mortgagees generated 4,927 endorsements.

Mortgage Firms Hire CEO, CFO & Retail Executives

Mortgage Daily, Oct. 3, 2017--Sam Garcia
Tricia M. Bailey is the new president and chief executive officer of PSM Holdings Inc. The 25-year mortgage veteran previously spent time at Banc of California and PRMG Inc.

Fidelity National Financial Acquires Majority Interest in SkySlope

HousingWire, Oct. 3, 2017--Ben Lane
Fidelity National Financial, the title insurance giant, announced this week that it acquired a majority interest in SkySlope, a provider of digital transaction management and closing services to real estate professionals.

About MBA Newslink

President and CEO: David H. Stevens, 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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