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Volume 17 | Issue 235 | Tuesday, December 04, 2018

The Lede


MBA: 3Q Commercial and Multifamily Mortgage Delinquencies Remain Low

Delinquency rates for commercial and multifamily mortgage loans remained low in the third quarter, according to the Mortgage Bankers Association's latest Commercial/Multifamily Delinquency Report.


Top National News

Mortgage Lender Profits Reach New Low for Q3

HousingWire, Dec. 3, 2018--Kelsey Ramirez
Lenders reported a lower net production income in the third quarter this year, down from the previous quarter and the previous year and reaching a new low for the third quarter, the Mortgage Bankers Association reported.

Waters Likely to Raise Affordable Housing's Profile in GSE Debate

American Banker, Dec. 3, 2018--Hannah Lang (subscription)
One particular difference between a House Financial Services Committee likely led by Rep. Maxine Waters, D-Calif., and her GOP predecessor could be a newfound focus on affordable housing issues.

Brainard: Fed Close to Finalizing Deal on Treasury Market Data Collection

Wall Street Journal, Dec. 3, 2018--Kate Davidson, Gabriel T. Rubin (subscription)
The Federal Reserve is close to finalizing an agreement to start collecting Treasury market data from banks, Fed governor Lael Brainard said Monday. She also said the Fed plans to propose a rule to collect data on mortgage-backed securities issued by government-sponsored agencies such as Fannie Mae and Freddie Mac.

Private-Label RMBS Issuance Could Peak This Year: KBRA

National Mortgage News, Dec. 3, 2018--Bonnie Sinnock (subscription)
Private-label residential mortgage-backed securitization is approaching a post-crisis peak, according to Kroll Bond Rating Agency.

Flagstar Finalizes Acquisition of Wells Fargo Branches

HousingWire, Dec. 3, 2018--Caroline Basile
The move was part of Wells Fargo's previous announcement that it plans to reduce its retail bank branches by about 5,000 by the end of 2020 through consolidations and divestitures.

U.S. Construction Spending Slows, Factory Growth Readings Mixed

Reuters, Dec. 3, 2018--Meredith Mazzilli
U.S. construction spending fell for a third straight month, government data showed on Monday, while private-sector figures showed an uptick in manufacturing order growth but offered a mixed view on overall factory activity.

Residential Finance News

MBA Offices Open Wednesday

The Mortgage Bankers Association will be open this Wednesday, Dec. 5, despite the federal government closing for former President George H.W. Bush's funeral.

'Everyone Can Lead:' Advocating For Inclusion at Every Level

For Trina Scott, Vice President of Diversity & Inclusion with Quicken Loans, Detroit, the philosophy is simple: "If an organization has an inclusive element, diversity will follow."

Former MBA General Counsel William Cumberland Passes Away

William E. Cumberland, who served 28 years as Senior Vice President and General Counsel of the Mortgage Bankers Association, passed away on Nov. 29 following a long battle with cancer. He was 80.

LendingTree: Average Homeowner Age Varies by Location

Conventional wisdom suggests older Americans flock to Florida, while younger Americans move to high-tech cities such as San Francisco, Salt Lake City and Austin, Texas. But is that really true?

Commercial/Multifamily News

CMBS Delinquency Rate Resumes Decline

After a brief uptick in October the commercial mortgage-backed delinquency rate resumed its long-term downward trajectory in November, reported Trepp LLC, New York.

Commercial/Multifamily Briefs

CREModels, St. Petersburg, Fla., launched a free online resource to give commercial and multifamily real estate developers tools and information about Opportunity Zones.

Dealmaker: Kennedy Wilson Acquires Two Multifamily Assets for $73M

Kennedy Wilson, Beverly Hills, Calif., acquired two multifamily properties in Utah and Idaho for $73 million.

MBA News

CREF19 in San Diego Feb. 10-13

The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2019 returns to San Diego Feb. 10-13.

MBA Education School of Mortgage Banking I in D.C. Feb. 12-15

MBA Education presents its popular School of Mortgage Banking Course I Feb. 12-15 at MBA headquarters in Washington, D.C.

Participate in MBA's New Home Equity Lending Study

The Mortgage Bankers Association announces its new Home Equity Lending Study. The initial planning call takes place Tuesday, Dec. 11 at 2:00 p.m. ET.

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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