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Volume 17 | Issue 76 | Thursday, April 19, 2018

The Lede


What Went Wrong: Recent Successful Cybersecurity Attacks and How to Prevent Them

DETROIT--The unfortunate reality is, most companies will eventually experience some kind of security incident. And most will not be prepared. Knowing what to do when such an attack happens could mean the difference between staying in business...and not.


Residential Finance News

MBA Commends Introduction of Bipartisan GUIDE Compliance Act

The Mortgage Bankers Association commended introduction of bipartisan legislation to regularize guidance and compliance information by the Consumer Financial Protection Bureau.

Baseball and the Art of Business Disruption

Speaking here at the Mortgage Bankers Association' Technology Solutions Conference & Expo, Billy Beane, general manager of the Oakland A's, described how his "Moneyball" philosophy has been adopted by organizations of all sizes, across all industries, as a way to more efficiently and profitably manage their assets, talent and resources.

Homes Selling Faster than Ever

It took 81 days to sell the median U.S. home in 2017, nine days faster than the year prior, said Zillow, Seattle.

Commercial/Multifamily News

MBANow: MBA Vice President Jamie Woodwell on 2018 Commercial/Multifamily Outlook

The Mortgage Bankers Association released a new MBANow video featuring MBA Vice President of Commercial/Multifamily Research and Economics Jamie Woodwell, who discusses the MBA 2018 Commercial/Multifamily outlook.

Hotel Profits Up Despite Slowing Revenue Growth

The U.S. hotel sector saw its eighth consecutive year of increasing profits in 2017 despite a revenue growth slowdown, reported CBRE Hotels, Atlanta.

Dealmaker: Avanath Acquires Three Multifamily Properties for $38M

Avanath Capital Management LLC, Irvine, Calif., acquired three Maryland and New Jersey multifamily properties for $38.08 million.

MBA News

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 Spring Summit in Denver June 4-8

The MISMO Summits offer you an opportunity to learn more about MISMO and to engage in face-to-face standard setting activities.

MBA Compliance Essentials Offers Certified Mortgage Compliance Professional Designation Level 1

Earn recognition for your mortgage compliance expertise: MBA Education and the MBA Compliance Essentials program offer the only certification and designation program geared exclusively towards compliance professionals in the mortgage finance industry, the Certified Mortgage Compliance Professional (CMCP).

MBA Education Successor In Interest State Level Reports Available

MBA and the Compliance Essentials program, in collaboration with leading legal experts, have created state-by-state reports to help servicers understand documents that are required to verify a successor in interest's status in each state.

Top National News

Purchases Out Front of Jump in Mortgage Apps

Mortgage Daily, Apr. 18, 2018
With purchase-money applications leading the way, weekly applications for home loans made a healthy ascension. Refinance share, however, continued to weaken, the Mortgage Bankers Association said.

Gilbert: 'We're Not Really in the Mortgage Business'

Crain's Detroit Business, Apr. 18, 2018--Chad Livengood
"We're not really in the mortgage business. We're in the data acquisition business," Quicken Loans Inc. Founder Dan Gilbert said Tuesday at a Mortgage Bankers Association conference at the Detroit Marriott at the Renaissance Center. "We acquire data, we curate it and we move it. That's all we do."

8 Things We Learned at #MBATech18

National Mortgage News, April 18 2018--Bonnie Sinnock (free content)
With margins thinning and competition intensifying, lenders attending the 2018 Mortgage Bankers Association Technology Conference in Detroit were most interested in automation that could help them address those issues.

MBA Tech: Building the Right IT Infrastructure

HousingWire, Apr. 18, 2018--Sarah Wheeler
At the Mortgage Bankers Association's Technology Solutions Conference, Stacey Caster, vice president of technology communications at Quicken Loans, discussed how she approaches this task, and what advice she would have for other companies.

Mortgage Blockchains Promise Efficiency, But Face Steep Hurdles

National Mortgage News, Apr. 18, 2018--Elina Tarkazikis (subscription)
Blockchain technology promises to streamline how mortgages are managed at every point in their life cycle. But it will take an industrywide embrace for blockchains to reach their full potential.

Pricey Mortgages: Homeownership is Getting Tougher This Spring as Rates Keep Rising

Associated Press, Apr. 18, 2018--Alex Viega
Higher mortgage rates are making the already challenging task of buying an affordable home even tougher for many Americans this spring.

Ditech Holding Corp. Names Thomas Marano CEO and President

HousingWire, Apr. 18, 2018--Caroline Basile
Marano is the sixth CEO for the company since October 2015. Marano will also continue to serve as chairman of the board of directors, the company said.

Mortgage Originations Shift from FHA to Conv

Mortgage Daily, Apr. 18, 2018
Out of all the home loans that were originated during March, two-thirds were conventional mortgages. Conventional share widened from 63 percent a year previous, said Ellie Mae.

MGIC's 1Q Income Beats Estimates on Favorable Loss Development

National Mortgage News, Apr. 18, 2018--Brad Finkelstein (subscription)
MGIC Investment Corp.'s first-quarter net income beat analysts' estimates due to favorable loss development and that should be seen with the other private mortgage insurers.

Point Secures $150 Million Commitment to Buy Equity from Homeowners

HousingWire, Apr. 18, 2018--Ben Lane
Point, a financial technology platform that offers homeowners the opportunity take equity out of their home without taking on new debt, is set to grow thanks to a $150 million commitment from Atalaya Capital Management, a private investment firm.

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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