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Volume 17 | Issue 113 | Tuesday, June 12, 2018

The Lede


MBA: May Mortgage Credit Availability Increases

Mortgage credit availability increased in May, the Mortgage Bankers Association reported this morning.


Top National News

U.S. Net Neutrality Rules Expire, Court Battle Looms

Reuters, June 11, 2018--David Shepardson
U.S. open internet rules expired on Monday, handing sweeping new powers to internet providers to block, throttle or offer paid "fast lanes" for web traffic, but a court battle remains ahead.

Future of Genworth PMI Unit Takes Shape after Feds OK Acquisition

National Mortgage News, June 11, 2018--Brad Finkelstein (subscription)
Genworth Financial's mortgage insurance business, which had slipped in market share, has more certainty about its future prospects after a federal government committee approved the holding company's acquisition by China Oceanwide.

Mortgage Business Still Stuck in Holiday Slump

Mortgage Daily, June 11, 2018
During the seven days that finished on June 8, the U.S. Mortgage Market Index from Mortgage Daily retreated nearly 3 percent compared to the preceding week, which included Memorial Day.

Mortgage Events Cover Compliance, Regulation

Mortgage Daily, June 11, 2018--Sam Garcia
Included among dozens of upcoming mortgage-related events are a compliance workshop, a regulatory conference and a mortgage accounting software user event.

Philadelphia's Affordable-Housing Plan: a Tax on New Buildings

Wall Street Journal, June 11, 2018--Scott Calvert (subscription)
Philadelphia's City Council is weighing a proposed 1% tax on construction to raise millions of dollars for affordable-housing programs, marking the latest push by a U.S. city to address rising residential costs.

Retail Center Owners Look to Hotels to Bring New Life to Vacant Big-Box Spaces

National Real Estate Investor, June 11, 2018--Mary Dudich
Hotels appear to be a particularly good fit for retail centers, which tend to have ample parking, prime locations and shopping, restaurants and entertainment options readily available for travelers.

Landlords Are Practically Giving Malls Away

Bloomberg, June 12, 2018--Sarah Mulholland (subscription)
As they battle the rise of e-commerce, U.S. mall owners are trying to clear their books of fading centers so they can focus on the most-profitable ones. That's proving difficult, with just a shallow pool of investors who are willing to take on a declining mall and even fewer who would pay what the landlords want.

Residential Finance News

CoreLogic: Lowest Delinquency Rates in 11 Years

CoreLogic, Irvine, Calif., said just 4.3 percent of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in March, down by 0.1 percent from a year ago.

Listed Today, Sold Tomorrow: Days on Market Plummet in Hot Markets

Your neighbor's "For Sale" sign goes up on Friday; on Monday, it's under contract. Really? Really. You're not imagining things.

Commercial/Multifamily News

MBA Paper Updates Current Trends in Commercial/Multifamily Mortgage Financing

Research released today by the Mortgage Bankers Association identifies headwinds and tailwinds the market faces, summarizes available data on current market conditions and discusses different sources of capital now playing a role in the market.

Small-Balance Lending Could Grow 6% in 2018

Small-balance multifamily lending could increase 4 to 6 percent this year, reported Chandan Economics, New York, and Arbor Realty Trust, Uniondale, N.Y.

Dealmaker: Westgate Resorts Acquires New York Hotel for $50M

Westgate Resorts, Orlando, Fla., acquired the former Hilton New York Grand Central, a 23-floor two-tower hotel on Midtown Manhattan's East Side.

MBA News

MBA Readership Survey Underway

The Mortgage Bankers Association is conducting a Readership Survey for MBA NewsLink and MBA Insights.

MBA Annual Convention & Expo in Washington Oct. 14-17

Join thousands of your industry colleagues in our nation's capital this October for the Mortgage Bankers Association' Annual Convention & Expo 2018.

MBA Education Management Essentials for the Mortgage Professional in D.C. Sept. 11-14

MBA Education presents Management Essentials for the Mortgage Professional, a four-day workshop taking place Sept. 11-14 at NorthMarq Capital in Washington, D.C.

MBA Member Advantage Program Adds New Partners

Your MBA membership entitles you to discounts on services such as office supplies, car rental, shipping, employee benefit services and more though our affinity program: MBA Member Advantage.

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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