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Volume 17 | Issue 69 | Tuesday, April 10, 2018

The Lede


MBA: Mortgage Bankers Close Record $530B in 2017 Commercial/Multifamily Originations

Commercial and multifamily mortgage bankers closed a record $530.1 billion of loans in 2017, according to the Mortgage Bankers Association's 2017 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.


Residential Finance News

MBA, Trade Groups Offer Support for CFPB Commission Bill

The Mortgage Bankers Association and nearly two dozen other industry trade groups expressed support for a bill that would alter governance of the Consumer Financial Protection Bureau from a single director to a five-person, bipartisan commission.

MISMO Releases Version 3.5 Residential Standards for Public Comment

MISMO, the Mortgage Industry Standards Maintenance Organization, released Version 3.5 of the MISMO Reference Model for a 60-day public comment period through June 3.

Buzzworthy with Ann Fulmer: Minimzing Vendor Risk

What are the chances that a vendor's misbehavior could get a lender into trouble? Are there risks, which might not be recognized, that occur more often than we might expect? And does the standard due diligence process provide enough information for lenders to be able to accurately judge the risk posed by their vendors?

Commercial/Multifamily News

Mortgage Rate Increases Drive Apartment Investment Index Drop

Significant mortgage rate increases drove declines in Freddie Mac's Multifamily Apartment Investment Market Index across most markets for both the fourth quarter and the full year.

Dealmaker: G.S. Wilcox & Co. Arranges $88M

G.S. Wilcox & Co., Morristown, N.J., secured $87.9 million in financing for industrial, retail and multifamily properties in New Jersey and New York.

MBA News

MBA Annual Convention & Expo in Washington Oct. 14-17

Join thousands of your industry colleagues in our nation's capital this October for the Mortgage Bankers Association' Annual Convention & Expo 2018.

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 Credit Scores in Loan Origination Apr. 24, May 3

MBA Education offers a two-part webinar series, Credit Scores in Loan Origination, on Tuesday, Apr. 24 (Part I) and Thursday, May 3 (Part II) from 2:00-3:30 p.m. ET.

MBA Education School of Loan Origination Instructor-Guided Online Course Apr. 30-May 24

MBA Education offers its School of Loan Origination Instructor-Guided Online Course Apr. 30-May 24.

Top National News

U.S. Watchdog Seeks Record Fine Against Wells Fargo for Abuses

Reuters, Apr. 9, 2018--Patrick Rucker
The Consumer Financial Protection Bureau is seeking a record fine against Wells Fargo & Co that could exceed several hundred million dollars for auto insurance and mortgage lending abuses, sources said.

Big Banks Find a Back Door to Finance Subprime Loans

Wall Street Journal, Apr. 10, 2018--Peter Rudegeair, Rachel Louise Ensign, Coulter Jones (subscription)
Lending to nonbank financial firms surges to record as banks avoid direct exposure.

More Consumers Report It's a Good Time for home Purchases

National Mortgage News, Apr. 9, 2018--Elina Tarkazikis (subscription)
Housing sentiment remained volatile in March as consumers reporting that now is a good time to buy a home rose from the previous month, according to Fannie Mae's Home Purchase Sentiment Index.

How Did Refis Impact the 2008 Financial Crisis?

DS News, Apr. 10, 2018--David Wharton
While there is still debate about the various factors that contributed to the 2008 financial crisis and the collapse of the housing market, a new paper by the Urban Institute suggests that the poor performance of cash-out refinances, and refinances in general, were important contributing factors.

MGIC Cutting Mortgage Insurance Prices for Borrowers

HousingWire, Apr. 9, 2018--Kelsey Ramírez
MGIC announced Monday it is reducing its borrower-paid mortgage insurance premiums. The reduction will bring mortgage insurance premium rates on the most popular premium plans down by an average 11 percent. PMI stocks are falling on the news.

Will New Deutsche Bank CEO Christian Sewing Change The Lender's Real Estate Strategy?

Forbes, Apr. 9, 2018--Ely Razin
Will new Deutsche Bank CEO Christian Sewing's strategy leave the bank in place as a big player in U.S. commercial real estate, or will it bring a narrower approach that could shrink the lender's role in U.S. real estate finance?

New Penn Financial Acquiring Envoy Mortgage's Correspondent Lending Division

Housing Wire, Apr. 9, 2018--Ben Lane
New Penn is owned by Shellpoint Partners, which is also the parent company of Shellpoint Mortgage Servicing, Avenue 365, a title and settlement services provider, and eStreet, an appraisal management company.

A Miami Real-Estate Developer Readies for Flying Cars

Wall Street Journal, Apr. 9, 2018--Candace Taylor (subscription)
In anticipation of air taxis from Uber and others, the builder of a 60-story condo tower in Miami is laying the groundwork for a 'skyport' on the roof.

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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