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Volume 17 | Issue 107 | Monday, June 04, 2018

The Lede


MBA Advocacy Update

Congress was in recess last week. This week, the House Financial Services Committee will hold a hearing on improving transparency and accountability at the Bureau of Consumer Financial Protection.


Top National News

Ginnie Mae Boots 3 VA Lenders from Mortgage Bond Programs

HousingWire, June 1, 2018--Kelsey Ramirez
Ginnie Mae said in the interest of providing additional clarity and transparency to its mortgage-backed securities investors, it announced it restricted VA single-family guaranteed loans pooled by three VA lenders: Freedom Mortgage, SunWest Mortgage and NewDay USA.

Nonbank Mortgage Hiring Picks up as Lenders Prep for Homebuying Season

National Mortgage News, June 1, 2018--Bonnie Sinnock (subscription)
Nondepository origination firms employed 338,100 workers during the month, according to the Bureau of Labor Statistics. That improves on an upwardly revised 337,400 jobs in March but is still below higher employment levels in February.

How Mortgage Lender Competition Stacks up Across the Country

National Mortgage News, June 1, 2018--Elina Tarkazikis (subscription)
While all cities show signs of healthy mortgage competition nationwide, some areas have higher concentrations of lender activity but also face varying degrees of competitiveness based on loan type, according to LendingTree.

It's 2007 Again for Commercial Mortgage Bonds, Moody's Says

Bloomberg, June 1, 2018--Claire Boston (subscription)
Commercial mortgage bonds are getting stuffed with the lowest-quality loans since the financial crisis by one measure, according to Moody's Investors Service, a warning sign that the $517 billion market may be headed for harder times.

How One Mortgage Lender Shaved Weeks Off Average Closing Times

Forbes, June 1, 2018--Aly Yale
In April, the average mortgage loan closed in 41 days. But one lender did it in just 13.

For Some Buyers, It's Full Speed Ahead

UExpress, June 1, 2018--Lew Sichelman
Despite a lack of houses for sale, rising mortgage rates, higher prices and strong competition from other would-be owners, not to mention investors, nearly two-thirds of the people responding to Gallup's annual housing survey still say it's a good time to buy.

In the Pipeline: These 4 Construction Conditions are Cementing Multifamily Industry Trends

HousingWire, June 1, 2018--Jeremiah Jensen
All signs point to a multifamily market that is cementing into stable growth. Rents are rising at a more sustainable rate than they have in recent years; capital is flowing into the industry; construction is tapering off to a sustainable level; and demand is strong.

Residential Finance News

MBA Chart of the Week: 2017 Retail Production Expenses

The 20th spring cycle of the MBA/STRATMOR Peer Group Roundtables recently concluded. With 105 banks and independent mortgage companies participating in the survey collection, the PGR produces a rich dataset particularly for the retail production channel.

New Guidance on VA Refinances Raises MBA Concerns

Last week, the Veterans Administration and Ginnie Mae each issued guidance implementing provision of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. However, these guidance have raised new concerns with the Mortgage Bankers Association and other industry trade groups.

The Week Ahead

The MISMO Spring Summit is underway, running through this Friday, June 8 in Denver. Not far away, in Avon, Colo., the MBA Chairmans Conference runs through this Thursday, June 7.

Commercial/Multifamily News

CRE Participants Increasingly Believe Risk Outweighs Return

Commercial real estate investors increasingly believe the risk involved outweighs CRE market returns, reported Situs RERC, Houston.

Dealmaker: JLL Arranges $567M for New York Office, Mixed-Use Assets

JLL, Chicago, secured $567 million for two New York assets, Midtown Manhattan's 5 Bryant Park office tower and Redbridge, a mixed-use residential and retail property in Williamsburg, Brooklyn.

MBA News

MBA 2018 Human Resources Symposium Sept. 11-12

The Mortgage Bankers Association's annual 2018 Human Resources Symposium takes place Sept. 11-12 in Arlington, Va.

MBA Education Successful Practices in Third-Party Risk Management Sept. 25

MBA Education presents Successful Practices in Third-Party Risk Management on Sept. 25 at the JW Marriott LA Live, in conjunction with the MBA Risk Management and Quality Assurance Forum.

Upcoming MBA Education School of Mortgage Banking Courses

MBA Education presents its School of Mortgage Banking Courses I & II in Arlington, Va., July 24-27.

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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