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Volume 17 | Issue 239 | Monday, December 10, 2018

The Lede

 

MBA Advocacy Update

The passing of President George H.W. Bush Nov. 30 and memorial services prescribed in his honor have been much of the focus in Washington last week. President Donald Trump ordered a national day of mourning on Wednesday with the federal government closed to pay respect.

 

Top National News

 
MBA: Commercial, Multifamily Mortgage Delinquencies Remain Historically Low

HousingWire, Dec. 7, 2018--Ben Lane
Delinquency rates on commercial and multifamily mortgages stayed nearly historic lows during the third quarter, the Mortgage Bankers Association reported this week.

Signs of Trouble Loom in Commercial Real Estate Loans

Business Observer, Dec. 7, 2018
Banks nationwide, by a big margin in some cases, are slowing down commercial real estate lending in most property categories.

Competition Limits the Decline in Nonbank Mortgage Employment

National Mortgage News, Dec. 7, 2018--Bonnie Sinnock (subscription)
Workers employed by nonbank mortgage companies in October totaled 341,500, down from 344,000 in September, according to the Bureau of Labor Statistics. But total nonbank mortgage job numbers are up from 339,000 a year earlier.

Moody's: RMBS Credit Quality to Stay Strong in 2019

National Mortgage Professional, Dec. 7, 2018--Phil Hall
Moody's Investors Service is forecasting a strong level of credit quality and performance of residential mortgage-backed securities in 2019, although the level of strength will be slightly weaker compared to this year.

The Housing Boom Is Already Gigantic. How Long Can It Last?

New York Times, Dec. 7, 2018--Robert J. Shiller
Yale Professor and Nobel Laureate believes despite weaknesses, the current housing market is experiencing the third-biggest boom in modern history.

If You Ask Consumers, The Nation is in a Housing Affordability Crisis

National Mortgage News, Dec. 7, 2018--Elena Tarkazikis (subscription)
The nation is suffering from a housing affordability crisis and lower construction costs and increased government subsidies can ease the pain, consumers state in a survey.

Fed Policymakers Signal Turning Point on U.S Rate-Hike Path

Reuters, Dec. 7, 2018--Michelle Price, Howard Schneider
The U.S. central bank is flagging a turning point in monetary policy, as a Federal Reserve policymaker on Friday backed interest rate hikes in the "near term" but nodded to increasingly less certainty ahead.

Residential Finance News

 
Freddie Mac: U.S. Housing Stock Not Keeping Up with Demand

After nearly a decade of low levels of building, housing stock is well short of what the United States needs, said Freddie Mac, McLean, Va.

The Week Ahead

MBA releases its Weekly Applications Survey on Wednesday, Dec. 12; and its monthly Builder Applications Survey this Thursday, Dec. 13.

Commercial/Multifamily News

 
MBA Chart of the Week: CMBS/Bank Delinquencies

In the commercial and multifamily mortgage markets, different capital sources track delinquency rates in different ways, and for a host of good reasons. Many capital sources, including banks, calculate delinquencies up to the point where an economic loss is recorded.

Autonomous Vehicles Could Reshape Office Market--Soon

Autonomous vehicles could fundamentally reshape the U.S. office market within 15 years, commercial real estate analysts say.

Dealmaker: Continental Partners Secures $14M for Apartment Communities

Continental Partners, Los Angeles, secured $13.8 million in financing for three southern California apartment properties.

MBA News

 
MBA Independent Mortgage Bankers Conference Jan. 28-31

The Mortgage Bankers Association's Independent Mortgage Bankers Conference takes place Jan. 28-31 at the Hyatt Regency San Francisco.

Mortgage Action Alliance Steering Committee Elections through Dec. 11

The Mortgage Bankers Association's grassroots advocacy arm, the Mortgage Action Alliance, is holding online elections for three at-large seats on its 2019-2020 Steering Committee, through Dec. 11.

MBA Compliance Essentials UDAAP & FTC MAP Rule Resource Guide Available

The MBA Compliance Essentials program offers a new Resource Guide: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) & FTC Mortgage Acts and Practices Advertising (MAP) Rule.

MBA School of Mortgage Banking II in D.C. Mar. 5-8

MBA Education presents its popular School of Mortgage Banking Course II Mar. 5-8 at MBA headquarters in Washington, D.C.

About MBA Newslink

President and CEO: Robert Broeksmit, 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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One Voice. One Vision. One Resource. The Mortgage Bankers Association  (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.