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Volume 18 | Issue 11 | Wednesday, January 17, 2018

The Lede


Applications Up Again in MBA Weekly Survey

Mortgage applications kept up momentum in the new year even as key interest rates rose to 10-month highs, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending January 12.


Residential Finance News

Composite Default Rates At Highest Level in Nearly a Year

S&P Dow Jones Indices and Experian, New York, said its Consumer Credit Default Indices jumped in December to its highest level since March, with the bank card default rate rising by 16 basis points.

Survey: Lending to Experience ‘Major Expansion' in Northwest, Southwest

A new survey says U.S. lenders expect to lend more in 2018 than they did last year, with growth expected to be most significant in the Northwest and Southwest.

Commercial/Multifamily News

Apartment Rent Gains Slow

Multifamily rents held steady in December, up 2.5 percent for the year, reported Yardi Matrix, Santa Barbara, Calif.

Commercial/Multifamily Briefs

Freddie Mac, McLean, Va., financed $73.2 billion in loan purchase and guarantee volume last year to remain the largest multifamily financier for the third consecutive year.

Dealmaker: Sonnenblick-Eichner Arranges $170M for Hotel Properties

Sonnenblick-Eichner Co., Beverly Hills, Calif., arranged $110 million to refinance the InterContinental San Francisco in the city's South of Market district.

MBA News

MBA National Advocacy Conference Apr. 24-25

The Mortgage Bankers Association's annual National Advocacy Conference takes place Apr. 24-25 at the Capital Hilton in Washington, D.C.

Nominations for MBA Insights 2018 Tech All-Star Awards Deadline Jan. 19

The Mortgage Bankers Association and MBA Insights are accepting nominations for the MBA Insights 2018 Tech All-Star Awards. Nominations will be accepted through Friday, Jan. 19.  

MBA C/MF Diversity/Inclusion Leadership Awards Application Deadline Extended to Jan. 17

The Mortgage Bankers Association has extended the applications deadline for its second annual Commercial/Multifamily Diversity and Inclusion Leadership Awards until Wednesday, Jan. 17.

MBA Mergers & Acquisitions Workshop Jan. 22

The Mortgage Bankers Association's annual Mergers & Acquisitions Workshop takes place Jan. 22 at the Ritz Carlton Amelia Island in Fernandina Beach, Fla., ahead of the MBA Independent Mortgage Bankers Conference.

Top National News

Credit Scores in Reperforming Loan Securitizations Drifting Lower

National Mortgage News, Jan. 16, 2018--Bonnie Sinnock (subscription)
The weighted average FICO credit scores of securitized reperforming loans are showing some deterioration, according to a DBRS study of bonds issued since 2015.

Seven Predictions for the Multifamily Sector in 2018

National Real Estate Investor, Jan. 16, 2018--Mary Diduch
Stable is the one word that encapsulates the anticipated state of the multifamily sector this year analysts say.

Goldman Sachs Begins Offering Home Improvement Loans

HousingWire, Jan. 16, 2018--Ben Lane
Goldman Sachs announced Tuesday that it is now offering home improvement loans through Marcus, the company's personal lending venture.

U.S. Consumers See Higher Wage Growth, Inflation in Fed Survey

Bloomberg, Jan. 16, 2018--Matthew Boesler
U.S. consumer expectations for wage growth rose in December to the highest level in three years, according to a Federal Reserve Bank of New York survey.

Citigroup Posts $18.3B Fourth-Quarter Loss, Its Earnings Erased by Federal Tax Overhaul

USA Today, Jan. 16, 2018--Kevin McCoy
The net loss, equivalent to $7.15 per share, stemmed from a one-time non-cash charge of $22 billion, or $8.43 per share, related to the Tax Cuts and Jobs Act finalized by Congress and the Trump administration in December.

9-Month Low for FHA Endorsements, Could Drop More

Mortgage Daily, Jan. 16, 2018
New business at the Federal Housing Administration fell to a nine-month low, and a further drop is likely. Delinquency deteriorated. Meanwhile, the book of business continued to grow, HUD said.

2018's Higher Federal Conforming Mortgage Loan Limits Signal Confidence In The Housing Market

Forbes, Jan. 17, 2018--Ellen Paris
For the first time since 2005, the Federal Housing Finance Agency significantly increased 2018 Conforming Mortgage Loan Limits by 6.8% to keep pace with home price appreciation. This signals confidence in the housing market.

GSE Refinance Volume Highest in 9 Months

Mortgage Daily, Jan. 16, 2018
The number of government-sponsored enterprise mortgages refinanced climbed to the highest level in nine months. Government-backed refinances, though, continued to fade, the Federal Housing Finance Agency said.

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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