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Volume 17 | Issue 237 | Thursday, December 06, 2018

The Lede


MBA: November Mortgage Credit Availability Rises

Mortgage credit availability increased in November as credit supplies trended up, the Mortgage Bankers Association reported this morning.


Top National News

Mortgage Applications Rise 2%, But Buyers Seem Unimpressed by Lower Rates

CNBC, Dec. 5, 2018--Diana Olick
Total mortgage application volume rose 2 percent last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was nearly 19 percent lower than the same week one year ago.

How Waters Will Keep Pressure on CFPB

American Banker, Dec. 5, 2018--Kate Berry (subscription)
There is already intense focus on how the Democratic-run House Financial Services Committee may shine a spotlight on Trump administration-appointed regulators. But that light might shine brightest on one agency in particular: the Consumer Financial Protection Bureau.

OCC Seeks Public Comment on Raising Appraisal Exemption Threshold

HousingWire, Dec. 5, 2018--Kelsey Ramirez
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency recently released a proposal that would increase the appraisal requirement from $250,000 to $400,000, meaning that certain home sales of $400,000 and below would no longer require an appraisal. This would be the first increase to the threshold since 1994.

Risk is Building in the Housing Market

National Mortgage News, Dec. 5, 2018--Lynn M. Fisher, Edward J. Pinto (subscription)
American Enterprise Institute economists warn if the economy were to experience a downturn or worse in the next few years, home prices, which have boomed over the last six years, will surely realize a price correction and foreclosure rates could increase "dramatically."

The Impact of Price Trends on Mortgage Defaults

DS News, Dec. 5, 2018--Radhika Ojha
A number of factors drive default rates in mortgage, but a new study by Collateral Analytics has found that price uncertainty and actual and expected home equity are important drivers.

Fed Chairman Jerome Powell Draws Congressional Support, Even as Trump Bashes Him

Wall Street Journal, Dec. 6, 2018--Nick Timiraos (subscription)
President Trump's attacks against Federal Reserve Chairman Jerome Powell have failed so far to gain traction with an important constituency: Congress.

New Phishing Scam Targets Banks and Mortgage Lenders

National Mortgage Professional, Dec. 5, 2018--Phil Hall
A global network of digital miscreants has reportedly created a list of 50,000 executives at banks and mortgage companies to target for online scams.

Residential Finance News

House Hearing on Reform Bill Postponed

A House Financial Services Committee hearing this morning on a housing finance reform bill in which Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, was scheduled to testify has been postponed.

Loan Defect Index Drops, But California Wildfire Issues Loom

First American Financial Corp., Santa Ana, Calif., said its monthly Loan Application Defect Index declined nationally from a year ago, but cautioned that properties damaged by California's devastating wildfires this summer will likely increase loan defect risk in the near future.

The ‘Amazon Bump:' HQ2 Finalists Project Housing Markets to ‘Overperform' in 2019

Right now, every homeowner in northern Virginia thinks they're sitting in a home worth at least $1 million, thanks to Amazon. They might not be that far off.

Residential Briefs

Nations Valuation Services, Red Deer, Alberta, announced integration of appraisal management software from Anow with NVS' proprietary management system, AppraisalTRAX.

Commercial/Multifamily News

Hotels Aim for 10th Consecutive Year of Growth in 2019

Hotel sector analysts predict the nation's hotels will enjoy a 10th consecutive year of growth in 2019, but at a slower pace than seen in 2018.

Dealmaker: JLL Secures $60M in Hotel Financing

JLL, Chicago, secured $60 million to refinance the 325-key Hyatt Regency Houston Galleria. 

MBA News

MBA Technology Solutions Conference & Expo Mar. 24-27 in Dallas

The Mortgage Bankers Association's Technology Solutions Conference & Expo 2019 takes place Mar. 24-27 at the Hyatt Regency Dallas.

MBA Education School of Loan Origination Begins Jan. 22

MBA Education presents its popular School of Loan Origination instructor-guided online course from Jan. 22-Feb. 14.

Register for MBA Servicing Operations Study and Forum for Prime and Specialty Servicers; Deadline Jan. 15

The Mortgage Bankers Association has begun enrollment for its 2019 Servicing Operations Study and Forum (covering 2018 data). Sign-up deadline is Jan. 15, 2019.

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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