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Volume 17 | Issue 3 | Thursday, January 04, 2018

The Lede


MBA: CRE Originators Expect 'Strong' 2018

Commercial and multifamily mortgage originators expect another strong year according to the Mortgage Bankers Association's 2018 CREF Outlook Survey.


Residential Finance News

Millennials Making a Name in Housing

What's in a name? If you're a real estate data-miner, a lot.

For Many Large Cities, Affordability Problems Persist

In many large cities, more than 50 percent of households cannot afford a home, according to a new study by GOBankingRates, Los Angeles.

Commercial/Multifamily News

MBA 3Q Commercial/Multifamily DataBook Reports 'Strong, Steady' Markets

Commercial real estate and finance markets were strong and steady during the third quarter, the Mortgage Bankers Association said today.

Dealmaker: Douglas Emmett Acquires Beverly Hills Office Building for $144M

Douglas Emmett Inc., Los Angeles, acquired Class A office property 9401 Wilshire Boulevard in Beverly Hills. Calif., for $143.6 million, or $981 per square foot.

MBA News

MBA National Mortgage Servicing Conference & Expo Feb. 6-9

The Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2018 returns to the Gaylord Texan in Grapevine, Texas (Dallas) Feb. 6-9.

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 Education Cybersecurity Fundamentals & NY DFS Requirements Workshop Feb. 6-7

MBA Education offers a workshop, Cybersecurity Fundamentals & NY DFS Requirements, on Tuesday Feb. 6 and Wednesday, Feb. 7 in McLean, Va. (near Washington, D.C.).

MBA Education Successor In Interest State Level Reports Available

MBA and the Compliance Essentials program, in collaboration with leading legal experts, have created state-by-state reports to help servicers understand documents that are required to verify a successor in interest's status in each state.

Top National News

Mortgage Applications End 2017 Lower as Rates Rose

CNBC, Jan. 3, 2018--Diana Olick
Optimism over the tax bill resulted in higher interest rates, and that caused total mortgage application volume to drop 2.8 percent in the last two weeks of 2017. The Mortgage Bankers Association included an adjustment for the Christmas holiday.

Living in Interesting Times: The Career of Ken Markison

Mortgage Compliance Magazine, January 2018--Tory Barringer (subscription)
After 32 years at HUD and another 13 years at the Mortgage Bankers Association, Ken Markison has retired from the public life to launch his own consulting practice.

Procedural Move will Delay Top Fed, FHA, FDIC Nominations

National Mortgage News, Jan. 3, 2018--Brian Collins (subscription)
More than 100 pending Trump administration nominees must update their financial disclosures and have the White House resubmit their names for consideration by the Senate, including Fed Chair-designate Jerome Powell and Federal Deposit Insurance Corp. Chair-designate Jelena McWilliams.

A Fight over the Credit Score Lenders Use for Your Mortgage

Dow Jones Newswires, Jan. 3, 2018--AnnaMaria Andriotis, Christina Rexrode (Wall Street Journal)
Banks and rival lenders are butting heads over the credit scores used to decide millions of mortgage requests by U.S. home buyers. Now, the Federal Housing Finance Agency is weighing whether to step into the fight.

The Formidable Fannie and Freddie: Is Multifamily Lending Set for a Slowdown in 2018?

Commercial Observer, Jan. 3, 2018--Mack Burke
Fannie Mae and Freddie Mac have recently set multifamily lending records, but in the current multifamily market environment, that volume and competition could create a problem--and a slowdown may be on the way.

Ohio Reaches $45M Settlement with Mortgage Lender

Dayton Daily News, Jan. 3, 2018--Max Filby
The attorneys general of 49 states and Washington, D.C., reached a multi-million-dollar settlement with PHH Mortgage accused of improperly servicing loans.

Fed Minutes Reveal Uncertainties Over Tax Cuts

Wall Street Journal, Jan. 3, 2018--Nick Timiraos (subscription)
Federal Reserve officials in December debated whether new tax cuts would require them to raise short-term interest rates faster this year, after lifting them three times last year.

Title Company Profits to Drop Due to Fewer Originations in 2018

National Mortgage News, Jan. 3, 2018--Brad Finkelstein (subscription)
Lower mortgage loan origination volume in 2018, on top of 2017's decline, will lead to further reduction in title insurer profitability and a possible increase of merger activity.

Rental Population Decreases for First Time Since 2004

HousingWire, Jan. 3, 2018--Kelsey Ramirez
After steadily climbing for the past 13 years, the population of renters decreased for the first time since 2004, according to the Annual Rent Report from ABODO, an apartment listing service.

Canada Criticizes U.S. Lumber Duties Put in Place on Wednesday

Reuters, Jan. 3, 2018--Rob Nickel, David Ljunggren, Sue Thomas, Lesley Wroughton
The Canadian government on Wednesday criticized the United States for a decision to impose duties on certain softwood lumber exports and underlined its determination to fight the move.

MSRs For Sale on Big Portfolio of Agency Loans

Mortgage Daily, Jan. 3, 2018
Comprising the total are $318.159 billion in Ginnie Mae loans, $242.304 billion in Freddie Mac mortgages and $201.083 billion in Fannie Mae loans.

Annual HECM Production Jumps to 4-Year High

Mortgage Daily, Jan. 3, 2018
HECM production by FHA mortgagees was slightly stronger compared to the final month of 2016, when the agency endorsed 4,658 reverse mortgages.

About MBA Newslink

President and CEO: David H. Stevens, 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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