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Volume 17 | Issue 38 | Monday, February 26, 2018

The Lede


MBA Advocacy Update

The GSE reform debate is at a critical juncture, with parallel proposals being vetted for possible introduction and consideration by leaders in both the House and Senate after they return to Washington this week.


Residential Finance News

MBA Chart of the Week: Homeowners' Equity and Home Equity Loans

Home equity has surpassed the previous peak of $13.4 trillion from first quarter 2006 during the past year, recovering from the great price correction that more than halved home equity positions.

Deborah Dubois Appointed President of MBA Opens Doors Foundation

The Mortgage Bankers Association appointed Deborah Dubois as President of the MBA Opens Doors Foundation.

The Week Ahead

Newly installed Federal Reserve Chairman Jerome Powell delivers his initial Semiannual Monetary Policy Report to Congress this week.

Commercial/Multifamily News

Analysis: CRE Reaches 'Late Stable' Stage

The commercial real estate market has reached a "late stable" stage with some "moderate" signs of distress, reported RCLCO, Los Angeles.

Dealmaker: Transwestern Closes $35M in Mixed-Use, Office Sales

Transwestern, Houston, closed $34.5 million in sales for mixed-use and office assets in Colorado and California.

MBA News

MBA National Technology Solutions Conference Apr. 15-18

Tech 18, the Mortgage Bankers Association's National Technology Solutions Conference & Expo, takes place Apr. 15-18 at the Detroit Marriott At the Renaissance Center.

MBA Education Ten(ish) Performance Ratios Every Mortgage Banker Must Know Webinar Feb. 27

MBA Education presents a webinar, Ten(ish) Performance Ratios Every Mortgage Banker Must Know, on Tuesday, Feb. 27 from 2:00-3:30 p.m. ET.

MISMO HMDA Implementation and Reporting Toolkit Overview Webinar Mar. 1

MISMO hosts a new webinar, HMDA Implementation and Reporting Toolkit Overview, on Thursday, Mar. 1 from noon-1:30 p.m. ET.

Upcoming MBA Education School of Mortgage Banking I Courses

MBA Education presents its School of Mortgage Banking Course I. Upcoming sessions take place Apr. 10-13 in Salt Lake City, Utah.

Top National News

Harassment a Problem in the Mortgage World

UExpress, Feb. 23, 2018--Lew Sichelman
#MeToo, say as many as 3 out of 4 women in the mortgage business. According to a poll by the Mortgage Bankers Association's mPower platform for female members, 3 out of 4 of the 260 respondents said they had experienced at least one incident of sexual harassment.

Mortgage Bankers Nudge Up Q1 Refi Forecast

Mortgage Daily, Feb. 23, 2018
Over the past month, mortgage bankers have grown more optimistic about the volume of refinances that will be originated during the first three months of this year.

Monday Morning Cup of Coffee: MBA President Slams "Defamatory" Mortgage Industry Report

HousingWire, Feb. 26, 2018--Caroline Basile
The Mortgage Bankers Association is speaking up against a report from The Center for Investigative Reporting that claims to show a high level of discrimination against people of color in mortgage lending approvals.

Mortgage Refinance Share Jumps 5% Despite Rising Interest Rates

HousingWire, Feb. 23, 2018--Kelsey Ramirez
The refinance share of mortgage activity increased a full 5% from December to January, rising to 45% of all closed loans, according to the latest Origination Insight Report from Ellie Mae.

Gloves Off in CFPB Tug of War Between Mulvaney, Warren

American Banker, Feb. 23, 2018--Kate Berry (subscription)
The war of words between acting Consumer Financial Protection Bureau Director Mick Mulvaney and Sen. Elizabeth Warren, D-Mass., the agency's architect, is escalating.

Mortgage Payments Get Back on Track After Harvey and Irma

National Mortgage News, Feb. 23, 2018--Bonnie Sinnock (subscription)
Hurricane-related delinquencies are subsiding somewhat, and pre-storm foreclosures that were put on hold are resuming, said Black Knight.

Is the Home Affordability Crisis Overstated?

National Mortgage News, Feb. 23, 2018--Elina Tarkazikis (subscription)
Low home inventory continues to put upward pressure on home prices, but affordability strains may be overstated, according to First American Chief Economist Mark Fleming.

The Mortgage Market Is Moving Into the Shadows

Bloomberg, Feb. 23, 2018
The last financial crisis occurred in part because unregulated lending in the mortgage market got out of hand. Believe it or not, it's starting to happen again, and could ultimately precipitate another disaster unless regulators get their act together.

U.S. Banks Set for M&A Wave as Trump Cuts Red Tape

Reuters, Feb. 23, 2018--David French, Michelle Price
An easing of financial rules will soon unleash pent-up mergers and acquisitions among mid-sized U.S. banks, according to deal bankers, analysts and bank executives.

Mortgage Biz Up From Year Ago, Rate-Term Share Sinks

Mortgage Daily, Feb. 23, 2018
Compared to a year ago, more borrowers locked in rates on their home loans during the holiday week. A slowdown in refinance activity continued, with rate-term transaction share at its most narrow point on record. Government business also saw a big decline.

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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