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Volume 18 | Issue 6 | Tuesday, January 09, 2018

The Lede


MBA: December Mortgage Credit Decreases

Mortgage credit availability decreased in December, the Mortgage Bankers Association reported this morning.


Residential Finance News

Fannie Mae: Home Purchase Sentiment Ends 2017 on Cautious Note

Fannie Mae, Washington, D.C., said its Home Purchase Sentiment Index fell in December as consumers appeared less optimistic about the housing market.

Rates for ‘Best Borrowers' Up in December

LendingTree, Charlotte, N.C., said December's best offers for borrowers with the best profiles had an average annual percentage rate of 3.80% for conforming 30-year fixed purchase loans, up from 3.75% in November.

Fitch: Large Banks Continue to Pull Away from U.S. RMBS Servicing Exposure

Basel III and ongoing regulatory scrutiny led big U.S. banks further away from servicing residential mortgage loans as non-banks swooped in and beefed up their portfolios, said Fitch Ratings, New York, in its latest U.S. residential mortgage-backed securities servicer handbook.

Commercial/Multifamily News

2017 Closes with 'Moderate' Apartment Rent Growth

Apartment rents climbed at a "moderate" 2.5 percent pace in 2017, reported RealPage, Dallas.

Dealmaker: Cushman & Wakefield Secures $59M for New Jersey Office Asset

Cushman & Wakefield, New York, arranged $58.8 million in purchase financing for Morris Corporate Center III in Parsippany, N.J.

MBA News

MBA Independent Mortgage Bankers Conference Jan. 22-25

The Mortgage Bankers Association's Independent Mortgage Bankers Conference takes place Jan. 22-25 at the Ritz-Carlton on Amelia Island, Fla.

MBA C/MF Diversity and Inclusion Leadership Awards Application Deadline Wednesday

The Mortgage Bankers Association is accepting applications until this Wednesday, Jan. 10 for the second annual Commercial/Multifamily Diversity and Inclusion Leadership Awards.

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 Residential Future Leaders Program Class of 2018 Application Deadline Jan. 22

MBA Education is accepting applications for its Residential Future Leaders Program Class of 2018. Application deadline is Jan. 22.

Top National News

Commercial Originators Expect Another Year of Growth in 2018

Mortgage Professional America, Jan. 8, 2018--Francis Monfort
Originations in the commercial and multifamily mortgage segment are expected to be strong in 2018, with some top firms looking to increase activity, according to an MBA Newslink report on the 2018 CREF Outlook Survey released by the Mortgage Bankers Association.

Experts Weigh in on What the 2018 Housing Market will Bring

Washington Post, Jan. 8, 2018--Kathy Orton
The Mortgage Bankers Association predicts mortgage rates will become more volatile in the coming year now that the Federal Reserve is winding down its balance sheet.

Industry Memorializes CFPB's Laurie Maggiano on Social Media

HousingWire, Jan. 8, 2018--Caroline Basile
During the weekend, the mortgage finance industry was saddened to learn the loss of Laurie Maggiano, an industry leader who served as the servicing and secondary markets program manager for the Consumer Financial Protection Bureau.

Credit Score Changes in Mortgage Market Could Increase Homeownership Opportunities

Fox Business, Jan. 8, 2018--Brittany De Lea
The housing market could be on the verge of a shake-up, as well-established credit scoring requirements are being reevaluated by the Federal Housing Finance Agency, potentially opening up the mortgage market to a greater number of aspiring homeowners.

FHFA Should Resist Calls to Weaken Mortgage Standards

American Banker, Jan. 8, 2018--Joseph A. Smith Jr. (subscription)
The author, former North Carolina Banking Commissioner, says the Federal Housing Finance Agency would be wise to stay with established and tested credit scoring methods, expanding them slowly and in light of market knowledge built over decades.

Are Lenders or Homebuyers Playing it Too Safe with Credit Scores?

National Mortgage News, Jan. 8, 2018--Elina Tarkazikis (subscription)
The widening credit score gap between the average consumer and homebuyer reflects better consumer awareness of how credit scores work contrasted against growing uncertainty about what it takes to qualify for a mortgage that's keeping many would-be homeowners on the sidelines.

IRS Continues Repair of Income Verification System After Mortgage Industry Panic

National Mortgage News, Jan. 8, 2018--Brian Collins (subscription)
The IRS has taken corrective actions to speed up its income verification system, avoiding a possibly crippling slowdown for the mortgage industry.

CitiMortgage Launches Single Digital Origination Platform

HousingWire, Jan. 8, 2018--Kelsey Ramirez
CitiMortgage announced Monday agreements with two digital technology platforms to offer its new single digital platform for its clients.

London Beats New York Among Foreign Investors in Real Estate

Bloomberg, Jan. 8, 2018--Peter Jeffrey
New York City took a double hit in an annual survey of real estate investors, which saw London overtake it in first place globally and Los Angeles tie it for top U.S. city.

Huge GSE MSR Portfolio on the Market

Mortgage Daily, Jan. 8, 2018
The offering is for mortgage servicing rights on 12,115 Fannie Mae and Freddie Mac single-family loans that had an aggregate unpaid principal balance of $3.005 billion as of Nov. 30.

LoyaltyExpress Inks Deal to Acquire Lending Manager

HousingWire, Jan. 8, 2018--Ben Lane
In a release, the companies say that the combined company will service 115 lenders with more than 15,000 loan officers across all platforms.

Mortgage Firms Report Growing Originations

Mortgage Daily, Jan. 8, 2018--Sam Garcia
While industry-wide annual mortgage originations are forecasted to retreat again, there are some lenders that are driving up loan volume.

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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