House Speaker Paul Ryan, R-Wis., announced on Wednesday that he will retire at the end of this term, thereby setting up a GOP leadership race ahead of a set of already challenging midterm elections. House Financial Services Committee member and deputy whip Rep. Dennis Ross, R-Fla., also announced his retirement on the same day.
MBA Chart of the Week: IMB Total Production Expenses per Loan
Based on the Mortgage Bankers Association's latest Quarterly Performance Report, independent mortgage bankers' total loan production expenses--commissions, compensation, occupancy, equipment and other production expenses and corporate allocations--increased to $8,475 per loan in the fourth quarter, from $8,060 in the third quarter.
Challenging the 'Myth' of Millennial Homeownership
Despite growing evidence to the contrary, perceptions persist that Millennials are destined to be a generation of renters.
The Week Ahead
DETROIT--MBA NewsLink and MBA Insights comes to you this week here from the Mortgage Bankers Associaton's Tech Solutions Conference & Expo.
Triple Net Lease Cap Rates Drop Again
Cap rates for triple net leased assets dropped 22 basis points in the first quarter to a new low 6.03 percent median cap rate, reported NNNet Advisors, Los Angeles.
Dealmaker: Madison Realty Capital Closes $103M
Madison Realty Capital, New York, closed a $72 million first mortgage loan collateralized by Highline Development Group's nearly completed condominium development in Manhattan's Chelsea neighborhood.
MBA National Advocacy Conference Apr. 24-25
The Mortgage Bankers Association's annual National Advocacy Conference takes place Apr. 24-25 at the Capital Hilton in Washington, D.C.
MISMO Seeks Blockchain Working Group Members
MISMO launched a new group to discuss the potential for using blockchain in the industry and invited interested parties to participate.
MBA Education Checklist for Effective Compliance Management Systems Webinar May 15
MBA Education presents a new webinar, A Checklist for Effective Compliance Management Systems, on Tuesday, May 15 from 2:00-3:30 p.m. ET.
New Home Purchase Apps Rise But Lag Year-Ago Levels
National Mortgage News, Apr. 13, 2018--Bonnie Sinnock (subscription)
Wells Fargo Faces $1B Fine from Federal Regulators over Mortgage, Auto Loan Abuses
USA Today, Apr. 13, 2018--Kevin McCoy
Mortgage Origination Volume Creates Drag on JPMorgan Chase Earnings Growth
HousingWire, Apr. 13, 2018--Kelsey Ramirez
Citigroup Profit Beats on Strength in Consumer Banking, Equity Trading
Reuters, Apr. 13, 2018--Sweta Singh, David Henry
House Clears Bill That Makes It Easier to Soften Volcker Rule
Bloomberg, Apr. 13, 2018--Elizabeth Dexheimer
First Republic Earnings, Mortgage Assets Increase
Mortgage Daily, Apr. 13, 2018
Increase in Mortgage Business Led by Conventional
Mortgage Daily, Apr. 13, 2018
Why the Dodd-Frank Rollback Has Some Small Banks Yawning
Wall Street Journal, Apr. 15, 2018--Ryan Tracy, Christina Rexrode (subscription)