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Volume 17 | Issue 28 | Friday, February 09, 2018

The Lede


MBA: Hurricanes Drive Up 60-Day and 90-Day Delinquencies in 4Q

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 5.17 percent of all loans outstanding at the end of the fourth quarter, the Mortgage Bankers Association reported yesterday.


Residential Finance News

MBA Economic, Housing Forecast Stays Positive

DALLAS--The outlook for the economy and the real estate finance market is relatively positive for the next several years, said Joel Kan, MBA Associate Vice President of Industry Surveys and Forecasting.

First American: Affordability Crisis 'Overstated'

Defying conventional views about the housing market, First American Financial Corp., Santa Ana, Calif., says home buyers today have historically high levels of house-purchasing power--an important reason why talk of an affordability crisis is "overstated" for now.

Redfin Housing Demand Index Flat In December As Supply Continues To Fall

Redfin, Seattle, said its monthly Housing Demand Index remained nearly flat into the end of 2017, falling by 0.6 percent from 128.3 in November to 127.6 in December.

Commercial/Multifamily News

Hotel Lenders See Peak But Stay Positive

Hotel lenders think asset values are approaching a peak, but their short-term outlooks are less cautious today than one year ago, the STR/RobertDouglas Hotel Lender Survey reported.

Dealmaker: Google to Pay $2.4B for New York Office Space

Google plans to buy even more office space in Chelsea on Manhattan's West Side.

MBA News

MBA Commercial/Multifamily Servicing/Technology Conference in Miami May 20-23

The Mortgage Bankers Association's annual Commercial/Multifamily Servicing and Technology Conference takes place May 20-23 at the Intercontinental Miami.

MISMO Course 2 Implementation Framework Case Study Part 1 Available Feb. 13-16

MISMO presents its popular Course 2 Implementation Framework Cast Study Part 1, either as a self-study program or as an Instructor-Guided Online Course taking place Feb. 13-16.

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 Compliance Essentials Home Mortgage Disclosure Act Resource Guide Available

MBA Education and MBA Compliance Essentials announce availability of the Compliance Essentials Home Mortgage Disclosure Act Resource Guide.

Top National News

MBA: Interest Rates to Increase Four Times in 2018

HousingWire, Feb. 8, 2018--Caroline Basile
During Thursday's general economic outlook session at MBA's Servicing conference, Joel Kan, MBA's associate vice president of industry surveys and forecasts, told conference attendees that the organization expects four increases in 2018 and another two increases in 2019.

Mortgage Rates Hit 14-Month High as Bonds Sell Off

MarketWatch, Feb. 8, 2018--Andrea Riquier
Rates for home loans rose to the highest in more than a year, raising the prospect of a fresh headwind for housing that mortgage professionals think the market can handle--for now.

Easing Mortgage Standards Are Resulting in More Late Payments

Bloomberg, Feb. 8, 2018--Prashant Gopal
The share of borrowers who are late on their Federal Housing Administration loans, which primarily go to first-time homebuyers, rose to 10.4 percent in the fourth quarter from 9 percent a year earlier, according to data from the Mortgage Bankers Association.

The Key To Preventing Foreclosure After a Natural Disaster

National Mortgage News, Feb. 8, 2018--Brad Finkelstein (free story)
To put it mildly, 2017 - with three major hurricanes, wildfires and other extraordinary events - was a living stress test of servicers' and government agencies' preparedness plans for helping borrowers in damage zones. Their coordinated responses appear to have improved from past natural disasters, industry and government representatives said Wednesday during panel discussions at the Mortgage Bankers Association Servicing Conference in Dallas.

Lenders to Allow Airbnb on Mortgage Forms

MarketWatch, Feb. 8, 2018--Laura Kusisto
Homeowners soon will be able to count income they earn from Airbnb Inc. rentals on applications for refinance loans.

Mortgage Rates at 11-Month High, Could Rise More

Mortgage Daily, Feb, 8, 2018--Sam Garcia
Mortgage rates moved to an 11-month high this past week thanks to expectations about Federal Reserve rate hikes. Some signs point to another increase in mortgage rates over the next week.

Originations Fall, Servicing Grows at PennyMac

Mortgage Daily, Feb. 8, 2017
Home-lending activity slowed at PennyMac Financial Services Inc. But the company reported growth in both its servicing and staffing.

U.S. Threatens to Dump Lenders From Veterans Loan Program

Bloomberg, Feb. 8, 2018--Joe Light
Nine lenders have been warned by Ginnie Mae that they will be kicked out of a top mortgage program within months unless they find ways to stop costly rapid refinances of veterans' loans.

House Clears Bill to Ease Limits on QM Points and Fees

National Mortgage News, Feb. 8, 2018--Brian Collins (subscription)
The House passed a bill Thursday that would loosen regulatory restrictions on the mortgage points and fees charged by lender-affiliated title insurers and other companies.

Fed Is 'A Long Way Away' From Having to Raise Interest Rates Due to Wage Pressure: Kashkari

MarketWatch, Feb. 8, 2018--Greg Robb
The U.S. central bank is "a long way away" from having to raise interest rates due to higher inflation caused by higher labor costs, Minneapolis Fed President Neel Kashkari said Thursday.

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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