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Volume 17 | Issue 35 | Wednesday, February 21, 2018

The Lede


Applications Down As Rates Hit 4-Year High in MBA Weekly Survey

Mortgage applications fell last week as interest rates jumped to their highest level in more than four years, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending February 16.


Residential Finance News

Analysts More Pessimistic about U.S. Housing Market Following New Tax Laws

A quarterly survey of housing analysts and economists by Zillow Inc., Seattle said new changes to tax laws will likely improve the housing market short-term but raises questions over long-term growth.

January Composite Default Rates Up

Composite default rates, driven largely by a spike in bank card defaults but also in first mortgage defaults, increased in January, reported S&P Down Jones and Experian, New York.

Residential Briefs

IndiSoft, a technology development firm that specializes in systems for the financial services industry, announced it rebranded its module-based RxOffice technology platform to Sunesis, an enterprise-wide platform providing more flexibility in work processes.

Commercial/Multifamily News

JLL: Stable Hotel Transaction Volumes, Growing Debt Fund Activity

The global lodging market's current cycle is positioned to carry on--2018 transaction volume should match last year's $28 billion level--said JLL, Chicago.

Dealmaker: Madison Realty Capital Provides $62M

Madison Realty Capital, New York, provided $62 million for New York condominium and hotel properties.

MBA News

MBA National Secondary Market Conference & Expo May 20-23

The Mortgage Bankers Association' National Secondary Market Conference & Expo returns to the Marriott Marquis in New York May 20-23.

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

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 Rise of Insurtech: Insurance for Modern Mortgages Webinar Mar. 19

MBA Education presents a webinar, The Rise of Insurtech: Insurance for Modern Mortgages on Monday, Mar. 19 from 2:00-3:30 p.m. ET.

Top National News

What Do Rising Interest Rates Mean for Homeowners?

Curbed, Feb. 20, 2018--Jeff Andrews
For prospective homebuyers, rising rates might put some pressure on finding a home sooner than later, as rates are unlikely to get better than they are now.

Drones Can Cut Property Inspection Costs--But Are They Safe?

Wall Street Journal, Feb. 20, 2018--Emily Nonko (subscription)
Building inspectors who used to rely on binoculars and ladders are turning to drones to check property exteriors for signs of damage or deterioration that could lead to injuries. But use of drones for this purpose is causing a dilemma.

Hidden Homeowner Tax Benefits in New Budget Deal Can Be Used for 2017 Taxes

Chicago Tribune, Feb. 20, 2018--Kenneth Harney
Call it buried tax treasure for homeowners: deep inside the behemoth 654-page bipartisan budget bill recently signed into law by President Donald Trump are little-noticed extensions of key tax code benefits that expired in 2016, but now can be used for upcoming 2017 tax filings.

Supreme Court Rejects Hedge Funds on Fannie, Freddie Suits

Bloomberg, Feb. 20, 2018--Greg Stohr, Joe Light
The U.S. Supreme Court dealt hedge funds and other big investors a blow Tuesday by refusing to revive core parts of lawsuits that challenged the federal government's capture of billions of dollars in profits generated by Fannie Mae and Freddie Mac.

Ditech Holding Corp. Picks 'Seasoned Turnaraound Professional' Jeffrey Baker as New CEO

HousingWire, Feb. 20, 2018--Ben Lane
Baker, who also serves as the president of Reverse Mortgage Solutions, replaces Anthony Renzi, who served as the company's CEO for just over a year.

Flagstar Bank to Acquire Santandar Bank's Mortgage Warehouse Loan Portfolio

HousingWire, Feb. 20, 2018--Caroline Basile
As part of the transaction, Flagstar will bring on Santander's existing relationship managers, adding the employees to its warehouse business. Terms of the transaction were not disclosed.

Lawmakers to Equifax: Extend Free Credit Protection Services

Wall Street Journal, Feb. 20, 2018--AnnaMaria Andriotis (subscription)
Democrats on the House Committee on Oversight and Government Reform sent a letter to Equifax on Tuesday asking the company to extend its offer of free credit monitoring and identity theft protection services to at least three years for breach victims.

Alternative Valuations Could Hurt RMBS Quality

Mortgage Daily, Feb. 20, 2018
In an effort to cut operational costs, increase efficiencies and address the declining number of real estate appraisers, home lenders are expected to use more appraisal alternatives.

Best Mortgage Employers of 2018

Mortgage Daily, Feb. 20, 2018
Five mortgage-related companies were rated among Fortune magazine's 100-best employers by their workforce.

As 10-Year Treasury Yields Spike, Local Mortgage Rates Will Matter More

National Mortgage News, Feb. 20, 2018--Bonnie Sinnock (subscription)
Government bond market fluctuations have renewed concerns about rising mortgage rates and may prompt borrowers to take more notice of what mortgage lenders are charging on a local level.

Construction Costs Spike Upwards for Multifamily Projects

National Real Estate Investor, Feb. 20, 2018--Bendix Anderson
Apartment properties are becoming more expensive to build, straining development budgets.

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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