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Volume 18 | Issue 7 | Wednesday, January 10, 2018

The Lede


Applications Up in Holiday-Shortened Week

Mortgage applications jumped last week to start the new year as key interest rates rose slightly, the Mortgage Bankers Association reported this morning in its Weekly Applications Survey for the week ending Jan. 5.


Residential Finance News

MBA Chairman Motley Testifies Today Before House Subcommittee on VA 'Churning'

Mortgage Bankers Association Chairman David Motley, CMB, testifies before a House subcommittee this morning.

Early-Stage Mortgage Delinquencies Up Following Active Hurricane Season

Six months after devastating hurricanes hit Texas, Florida and Puerto Rico, homeowners, mortgage lenders and servicers continue to feel residual effects.

It's ‘2018 Hot Market' Time

It's that time of the year, when various housing prognosticators gaze into their crystal balls to say which markets will be hot in 2018, and why.

Commercial/Multifamily News

London Edges Out New York as Top City for Foreign Real Estate Investment

New York slipped from its perch as the number one global city for foreign investors--displaced by London--reported the Association of Foreign Real Estate Investors, Washington, D.C.

Dealmaker: Cohen Financial Arranges $32M for Office, Retail Assets

Cohen Financial, Chicago, arranged an $18.9 million short-term bridge loan for 400 Skokie, a Northbrook, Ill. office building.

MBA News

MBA Premier Member Profile: Info-Pro

From our early days as a regional provider of real estate tax monitoring services to today as a national provider of real estate tax monitoring, flood determination and insurance monitoring services to over 300 customers we still follow that mission. Info-Pro has been helping residential, commercial and agricultural lenders of all sizes manage risk and reduce costs while improving operational efficiencies related to servicing their mortgage loan portfolio.

MBA State & Local Workshop Apr. 23-24

The Mortgage Bankers Association's annual State & Local Workshop takes place Apr. 23-24 at the Capital Hilton in Washington, D.C., in conjunction with the MBA National Advocacy Conference (Apr. 24-25).

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

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

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.

Top National News

Mortgage Credit Tightens to 5-Month Low

Mortgage Daily, Jan. 9, 2018
After easing to the loosest levels since the financial crisis, credit conditions in real estate finance contracted to the tightest level in five months, the Mortgage Bankers Association reported.

What Citi's Move Toward Digitalization Means for Mortgage Lenders

HousingWire, Jan. 9, 2018--Kelsey Ramirez
With this new move into the digital space, Citi is increasing its ability to become a major player in the mortgage industry, and could even soon enter the top 10 ranks of top mortgage lenders.

What the Tax Law Will Do to Bank Earnings

Wall Street Journal, Jan. 10, 2018--Michael Rapoport (subscription)
It is going to be a noisy quarter for bank earnings. Because of the tax-overhaul law, big banks are going to record a host of special charges that cut into fourth-quarter profit.

6 Critical Questions as Housing Finance Reform Heats Up

National Mortgage News, Jan. 9, 2018--Ian McKendry (subscription)
The Senate Banking Committee is expected to soon release a bipartisan bill that would significantly reshape the housing finance market, but key issues remain unresolved.

Realtors, Licking Their Wounds, Get Ready for Their Next Battle

Wall Street Journal, Jan. 9, 2018--Laura Kusisto (subscription)
The National Association of Realtors, one of the largest and wealthiest lobby groups in the U.S., emerged from the recent tax overhaul hobbled and humbled. Now, the coming debate over the government's role in backing mortgages for most Americans will test whether it can regain some of its clout in Washington politics.

Rising Equity Helps Appraisers, Homeowners Agree More on Price

National Mortgage News, Jan. 9, 2018--Bonnie Sinnock (subscription)
Increased equity levels are resulting in higher appraisals that are closer to owners' view of home prices now than they have been since March 2015, according to Quicken Loans.

The Money Source and Endeavor America to Rebrand as TMS

National Mortgage Professional, Jan. 9, 2018
The Money Source has announced that wholesale lender Endeavor America Loan Services has folded into its parent company, creating a unified and streamlined brand, now called TMS, in support of all of its lines of business.

Subprime Share Up as Mortgage Originations Fall

Mortgage Daily, Jan. 9, 2018
Equifax reported although volume of mortgages closed has fallen, the share that are considered subprime has inched higher. Home-equity originations have strengthened.

Malls May Be Dying, But Bets Against Their Debt Haven't Paid Off

Wall Street Journal, Jan. 9, 2018--Esther Fung (subsciption)
A rash of store closures and bankruptcies last year prompted some investors to bet against debt tied to the retail property sector. So far, at least, the bets haven't paid off.

U.S. Job Openings, Layoffs Fall to Six-Month Lows in November

Reuters, Jan. 9, 2018--Lucia Mutikani
U.S. job openings fell for a second straight month in November, with declines in the manufacturing and real estate sectors, supporting economist forecasts that job growth will slow in 2018.

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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