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Volume 17 | Issue 25 | Tuesday, February 06, 2018

The Lede


MBA, Trade Groups Urge Passage of TILA/QM Adjustment Bill

The Mortgage Bankers Association and nearly a dozen industry trade groups called on the House to pass a pending bill that would provide consumers with greater choice in mortgage and settlement services.


Residential Finance News

MBA: January Mortgage Credit Availability Increases

Mortgage credit availability increased in January, according to the Mortgage Bankers Association's Mortgage Credit Availability Index.

Remodeling Outlook 'Robust' for 2018

The Leading Indicator of Remodeling Activity from the Joint Center for Housing Studies of Harvard University, Cambridge, Mass., projects homeowner spending on improvements and repairs will approach $340 billion in 2018, an increase of 7.5 percent from estimated 2017 spending.

Residential Briefs

Black Knight, Jacksonville, Fla., announced the first phase of LoanSphere Expedite Close will be available later this year.

Commercial/Multifamily News

CRE Executives Favor Industrial Sector

If given $1 billion today, most commercial real estate executives would invest it in the industrial sector, reported Altus Group Limited, Toronto.

Dealmaker: Kennedy Wilson Acquires Two Salt Lake City Apartments

Kennedy Wilson, Beverly Hills, Calif., acquired two Salt Lake City, Utah-area multifamily properties for $92.5 million in an off-market transaction.

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 Advanced Servicing Workshop in Phoenix Apr. 4-5

MBA Education presents its Advance Servicing Workshop in Phoenix Apr. 4-5.

Upcoming MBA Education School of Mortgage Banking I Courses

MBA Education presents its School of Mortgage Banking Course I. Upcoming sessions take place Feb. 13-16 in Washington, D.C. and Apr. 10-13 in Salt Lake City, Utah.

MBA Education Top 10 Quality Control Errors Made in Loan Production Webinar Mar. 15

MBA Education presents a webinar, Top 10 Quality Control Errors Made in Loan Production, on Tuesday, Mar. 15 from 2:00-3:30 p.m. ET.

Top National News

GSE Reform Bill Could Be Congress' Last Chance

Scotsman Guide, Feb. 6, 2018--Victor Whitman
A draft of a much-anticipated housing-finance reform bill was recently leaked to the media. On Monday, Mortgage Bankers Association President and CEO David Stevens, CMB, discussed the bill and its chances.

Quicken Loans Overtakes Wells Fargo As America's Largest Mortgage Lender

Forbes, Feb. 5, 2018--Samantha Sharf
Quicken Loans' Super Bowl was well-reviewed. But the big news in the 60-second spot was easy to miss: Quicken Loans is now America's largest mortgage lender.

Lawmakers, Advocates Urge Trump Administration to Resume Equifax Probe

Reuters, Feb. 5, 2018--Patrick Rucker
Consumer advocates on Monday urged the Trump administration to resume an investigation into how Equifax failed to protect the personal data of millions of consumers after Reuters reported the head of the U.S. consumer watchdog has pulled back on the existing probe.

A Truly Digital Mortgage: Are We There Yet?

Forbes, Feb. 5, 2018--Ross Garcia
As we enter 2018, the world of finance is ripe with new technology and online efficiencies, ultimately saving us time and effort. And then there's the mortgage industry, which is ripe for disruption.

Banks Shutter 1,700 Branches in Fastest Decline on Record

Wall Street Journal, Feb. 5, 2018--Rachel Louise Ensign, Christina Rexrode, Coulter Jones (subscription)
The number of branches in the U.S. shrank by more than 1,700 in the 12 months ended in June 2017, the biggest decline on record, according to a Wall Street Journal analysis of federal data.

Lawrence Lindsey Withdraws From Consideration for No. 2 Fed Post

Wall Street Journal, Feb. 5, 2018--Nick Timiraos, Peter Nicholas (subscription)
Republican economist Lawrence Lindsey has withdrawn from consideration for the post of Federal Reserve vice chairman.

Demand Remains Steady for Single-Family Rentals

National Real Estate Investor, Feb. 5, 2018--Bendix Anderson
Occupancy rates for single-family rental houses are remaining largely flat. A strong economy is driving demand, but rents are not growing as quickly as they used to.

LO Allegedly Used Own Bank Statements on FHA Loans

Mortgage Daily, Feb. 5, 2018
A New Jersey loan officer is accused of altering his own personal banks statements to use for prospective borrowers on more than 20 government-insured mortgages.

SunTrust Announces New Mortgage Chief

Mortgage Daily, Feb. 5, 2018
When Dorinda Smith, who was with SunTrust for 22 years, retires on March 31, Todd Chamberlain will become the executive vice president and head of mortgage at SunTrust.

U.S. Services Sector Activity Jumps to 12-1/2 Year High

Reuters, Feb. 5, 2018--Lucia Mutikani
U.S. services sector activity raced to a near 12-1/2-year high in January, buoyed by robust growth in new orders, the latest sign of strong momentum in the economy at the start of the year.

Bon-Ton is the Latest Retailer to Go Bust

CNBC, Feb 5, 2018--Lauren Thomas
Department store chain Bon-Ton filed Chapter 11 bankruptcy protection and will explore strategic alternatives including a sale of the company. The retailer is in the midst of closing more than 40 stores across the U.S.

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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