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Volume 17 | Issue 236 | Wednesday, December 05, 2018

The Lede


Applications Up Again in MBA Weekly Survey

Mortgage applications rose for the second straight week as key interest rates fell back toward 5 percent, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 30.


Top National News

Commercial Loan Delinquencies Stay Down in 3Q

Scotsman Guide, Dec. 4, 2018--Victor Whitman
The delinquency rate on commercial/multifamily loans held by major investor classes remained exceptionally low in the third quarter, according to the Mortgage Bankers Association.

Shakeout Among Mortgage Lenders Could Take Time to Materialize

National Mortgage News, Dec. 4, 2018--Bonnie Sinnock (subscription)
The home mortgage industry is expecting more consolidation to potentially occur in the fourth quarter of this year, or the first quarter of next year. Both are periods when lenders tend to produce fewer loans, and may be under more pressure to sell.

Mulvaney's Misfire: CFPB Name Change Could Cost Industry Millions of Dollars

American Banker, Dec. 4, 2018--Rob Blackwell (subscription)
For now, some in the industry are brushing off the analysis, noting that the CFPB has yet to require the name change on regulatory filings and the like.

This Watchdog Agency Has Gotten Smaller, Quieter, Less Active Under Trump

Washington Post, Dec. 4, 2018--Kate Rabinowitz
Under the Trump administration, the Consumer Financial Protection Bureau has seen its role diminished.

Gateway Mortgage Shuttering California Branches, Laying Off Dozens

HousingWire, Dec. 4, 2018--Ben Lane
Gateway, based in Oklahoma and  founded by soon-to-be Governor of Oklahoma Kevin Stitt (R), said that it has been adding employees in the last year, but feels that the "uniqueness" of the California market makes it a tough one in which to operate successfully.

Chinese Dumped $1 Billion of U.S. Real Estate in Third Quarter, Extending Recent Retreat

Wall Street Journal, Dec. 4, 2018--Esther Fung (subscription)
Chinese investors offloaded more than $1 billion in U.S. real estate in the third quarter, extending their recent retreat from hotels, office buildings and other foreign property under pressure from Beijing to reduce debt and curb money sent abroad.

New York Foreclosure Firm Admits to Cheating Fannie Mae, VA Out of Millions

HousingWire, Dec. 4, 2018--Ben Lane
The U.S. Attorney's Office for the Southern District of New York announced Tuesday that it reached a settlement with Rosicki, Rosicki & Associates, in which the law firm admitted to using its wholly owned affiliates, Enterprise Process Service and Paramount Land, to overcharge Fannie Mae and the VA for foreclosure and eviction-related expenses.

Residential Finance News

To the Point with Bob: Misconceptions Surrounding Cash-Out Refinancing

Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, posted a new entry in his blog, To the Point with Bob, on Misconceptions Surrounding Cash-Out Refinancing.

MBA's Davies Featured on MNN 'Power Womnn with Class'

Mortgage Bankers Association COO Marcia Davies is featured this week on Power Womnn with Class with Christine Beckwith, a video series produced by Mortgage News Network.

CoreLogic: October Home Prices Up 5.4 Percent Year Over Year

CoreLogic, Irvine, Calif., said home price appreciation continued to slow in October, marking the fourth consecutive month of annual growth under 6 percent.

GSEs Sell 1,700 Non-Performing Loans in First Half of 2018

The Federal Housing Finance Agency reported Fannie Mae and Freddie Mac sold 1,740 non-performing loans in the first half of 2018.

Commercial/Multifamily News

Commercial Real Estate Jobs Evolving

Commercial real estate hiring remains healthy and steady, but the composition of CRE jobs is evolving, reported SelectLeaders, New York.

Dealmaker: Meridian Capital Group Arranges $16M

Meridian Capital Group, New York, arranged $16 million for office and mixed-use assets in Texas and California.

MBA News

MBA National Mortgage Servicing Conference & Expo in Orlando Feb. 25-28

The Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2019 (Servicing19) returns to Orlando Feb. 25-28.

Find Out Where You Stand through the PGR: MBA and STRATMOR Peer Group Roundtables Program

Since 1998, the Mortgage Bankers Association and STRATMOR Group have jointly conducted the Peer Group Survey and Roundtable Program. Launch date for the next program (data through Dec. 31, 2018) is Jan. 15, 2019.

MBA Education School of Mortgage Banking Course III Jan. 22-25 in Nashville

MBA Education presents its School of Mortgage Banking Course III Jan. 22-25 at Bradley Arant Boult Cummings in Nashville.

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).

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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