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Volume 17 | Issue 27 | Thursday, February 08, 2018

The Lede


Motley: Servicers Seek Clarity from Washington

DALLAS--Mortgage Bankers Association Chairman Dave Motley, CMB, said legislators and federal regulators need to provide the mortgage servicing industry with greater clarity in which to operate, and to aid consumers.


Residential Finance News

Seriously Underwater Mortgages Drop in 4th Quarter

Ahead of the Mortgage Bankers Association' National Delinquency Survey release, ATTOM Data Solutions, Irvine, Calif., said 9.3 percent of all U.S. properties with a mortgage were seriously underwater (LTV of 125+) at the end of the fourth quarter, down from 9.6 percent a year ago.

CoreLogic: Home Price Growth Tops 6% for Fifth Straight Month

CoreLogic, Irvine, Calif., said home prices nationally increased year over year by 6.6 percent, the fifth consecutive month of plus-6 percent growth.

Residential Briefs

Fiserv Inc., Brookfield, Wis., announced it entered into a definitive agreement with Warburg Pincus LLC, New York, in which funds affiliated with Warburg Pincus will acquire a 55 percent share of the Lending Solutions business of Fiserv.

Commercial/Multifamily News

'Coworking' and the Office Sector's Evolution

The office sector is changing to meet demands for lower costs, more flexibility and a more entrepreneurial workforce, and coworking is a growing part of that change, said Yardi Matrix, Santa Barbara, Calif.

Dealmaker: Apple Hospitality REIT Acquires Two Hotels for $63M

Apple Hospitality REIT, Richmond, Va., acquired two Hampton Inn & Suites hotels in Atlanta and Memphis, Tenn. for $63 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.

MBA Education School of Mortgage Servicing Feb. 26-Mar.8

MBA Education offers its popular School of Mortgage Servicing instructor-guided online course from Feb. 26-Mar. 8.

Attention Lenders: Upcoming 2018 MBA and STRATMOR Peer Group Roundtables

Is your company flying blind by not using reliable data to support key business decisions? Join an elite group of lenders this spring that participate in the MBA and STRATMOR Peer Group Roundtables.

MBA Education Customer Trust: How to Measure It & How to Improve It Webinar Feb. 21

MBA Education presents a webinar, Customer Trust: How to Measure It & How to Improve It?, on Wednesday, Feb. 21 from 2:00-3:30 p.m. ET

Top National News

Mortgage Volume Stalls as Rates Rise to the Hightest Level in Four Years

CNBC, Feb. 7, 2018--Diana Olick
Total mortgage application volume barely moved last week, up just 0.7 percent on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association. Volume was 5 percent higher than the same week a year ago.

MBA Chair Motley Urges 'Caution' on Overhauling Servicer Compensation

National Mortgage News, Feb. 7 2018--Austin Kilgore (free story)
Mortgage servicers should approach efforts to overhaul their compensated structure with caution, as changes to the status quo "could have ripple effects across the entire real estate finance industry," warned Mortgage Bankers Association Chairman David Motley, CMB.

Looking Back on Three Decades With David Stevens

The MReport, Feb. 7, 2018--David Wharton, Rachel Williams
For his final year at the head of the MBA, Stevens says his focus will be on keeping "the membership confident and engaged" and on working with members of Congress such as Sen. Bob Corker (R-Tennessee) and Rep. Jeb Hensarling (R-Texas) on GSE reform.

Credit Availability Increases as Mortgage Rates Move Higher

Investopedia, Feb. 7, 2018--Donna Fuscaldo
Mortgage rates may be on the rise, but when it comes to lending standards, they are loosening, increasing the availability of mortgage credit. According to the Mortgage Bankers Association, the Mortgage Credit Availability Index, or MCAI, increased by 2.1% in January to 182.9.

Black Knight Names Anthony Jabbour CEO

HousingWire, Feb. 7, 2018--Ben Lane
Black Knight, fresh off a fourth quarter that saw its year-over-year earnings increase by nearly $136 million, is about to have a new leader. In conjunction with announcing its fourth quarter earnings, Black Knight announced that it is naming Anthony Jabbour as the company's new CEO.

How FHFA Could Reform Housing Finance if Congress Doesn't

National Mortgage News, Feb. 7, 2018--Ian McKendry (subscription)
If Congress can't get a housing finance reform bill passed by the midterm elections, the Trump administration and Federal Housing Finance Agency may chart a future for Fannie Mae and Freddie Mac without lawmakers' input.

Biggest Reverse Mortgage Lender Opens Forward Biz

Mortgage Daily, Feb. 7, 2018
American Advisors Group, the country's largest originator of federally insured reverse mortgages has begun offering traditional mortgages for its mostly older customers.

New Business, Delinquency Worse at Genworth M.I.

Mortgage Daily, Feb. 7, 2018
Genworth Financial Inc.'s mortgage insurance unit saw increased income despite higher delinquency and losses at its parent. New business fell, but the book of business expanded.

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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