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Volume 17 | Issue 37 | Friday, February 23, 2018

The Lede

 

Home Value Growth Slowing Going into Spring Shopping Season

Over the past year, U.S. home values rose 6.7 percent, the slowest rate of appreciation since November 2016, said Zillow Inc., Seattle.

 

Residential Finance News

 
FHA Expands Foreclosure Relief for 2017 Disasters

The Federal Housing Administration yesterday announced expanded mortgage relief to FHA-insured homeowners who live or work in areas impacted by Hurricanes Harvey, Irma and Maria as well as California wildfires and subsequent flooding and mudslides.

Black Knight: January Delinquencies Down Sharply

Black Knight, Jacksonville, Fla., said mortgage delinquencies fell sharply in January, although they remain higher than a year ago.

Leading Indicators Suggest ‘Robust' Growth through 1st Half of Year

The Conference Board, New York, said its Leading Economic Index increased by 1 percent in January, suggesting strong economic growth should continue through the first half of 2018.

Commercial/Multifamily News

 
Small-Cap CRE Leasing Activity Rebounds

Small-cap commercial real estate leasing activity rebounded "smartly" during the fourth quarter, though overall demand for the year came up short compared with 2016, reported Boxwood Means, Stamford, Conn.

Dealmaker: TruAmerica Multifamily Acquires Three Properties for $217M

TruAmerica Multifamily, Los Angeles, acquired three apartment communities in California, Washington and Colorado for $217 million.

MBA News

 
MBA Legal Issues/Regulatory Compliance Conference in L.A. Apr. 29-May 2

The Mortgage Bankers Association's annual Legal Issues and Regulatory Compliance Conference takes place Apr. 29-May 2 at the J.W. Marriott L.A. Live in Los Angeles.

Register Today for MBA 2018 Annual Servicing Operations Study/Forum

The Mortgage Bankers Association has begun enrollment for its 2018 Servicing Operations Study and Forum (covering 2017 data).

MBA Education School of Loan Origination II Instructor-Guided Online Course Apr. 3-19

MBA Education hosts its popular School of Loan Origination II Instructor-Guided Online Course Apr. 3-19.

MBA Advanced Risk Management for Mortgage Pros Workshop in Washington June 11-13

MBA Education presents its popular Advanced Risk Management for Mortgage Pros Workshop June 11-13 in Washington, D.C.

Top National News

 
Mortgage Rates Move Higher for the Seventh Week in a Row

Washington Post, Feb. 22, 2018--Kathy Orton
Mortgage rates were slightly higher this week as investors waited to see what they could decipher from the minutes of January's Federal Reserve meeting.

More First-Time Buyers Using PMI as 3% Down Mortgages Make Gains

National Mortgage News, Feb. 22, 2018--Elina Tarkazikis (subscription)
PMI carriers insured 157,000 loans for first-time homebuyers at the end of 2017, the best fourth quarter since 1994, due largely to more lenders and borrowers taking advantage of Fannie Mae and Freddie Mac's 97% loan-to-value mortgage programs.

Many Lenders are Loosening Requirements for Prospective Home Buyers

Washington Post, Feb. 22, 2018--Michele Lerner
Pushback against overly tight credit after the housing crisis, a shrunken proportion of first-time buyers and worry about affordability as home values rose led to some tweaks to guidelines that could ease financing pressures for home buyers this year.

CFPB Wants Firms to Sound Off, But Openness Carries Hidden Risks

National Mortgage News, Feb. 22, 2018--Kate Berry (subscription)
Companies that have been investigated for wrongdoing by the Consumer Financial Protection Bureau are giving acting Director Mick Mulvaney an earful about how he should roll back enforcement practices. The big question is: Are they seizing on a golden opportunity to reshape the regulatory landscape, or are they shooting themselves in the foot?

Some Credit Scores Rise After Changes to Reporting

Mortgage Daily, Feb. 22, 2018
Changes to the reporting of public records on credit bureaus last year have begun to yield improvements to credit scores for some consumers.

Homeowners are Using Rental Income Earned through Airbnb to Refinance their Mortgages

CNBC, Feb. 22, 2018--Diana Olick
It's another program from mortgage giant Fannie Mae designed to help more borrowers get better loans in today's tight mortgage market. Airbnb already tracks the income data and will now provide documentation for a mortgage application.

Mortgage Insurers Continue Taking Market Share from FHA

National Mortgage News, Feb. 22, 2018--Brad Finkelstein (subscription)
Total insurance-in-force for mortgage insurers--which included the three companies no longer actively underwriting--grew 10.6% last year over 2016, according to a Keefe, Bruyette & Woods report. FHA grew by 4.7% year-over-year.

U.S. Jobless Claims Near 45-Year Low as Economic Outlook Brightens

Reuters, Feb. 22, 2018--Lucia Mutikani
Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 222,000 for the week ended Feb. 17, the Labor Department said Thursday. Claims fell to 216,000 in mid-January, the lowest level since January 1973.

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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