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Volume 17 | Issue 48 | Monday, March 12, 2018

The Lede


MBA Advocacy Update

Last week, the Senate voted 67-32 to consider S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. the bipartisan financial services regulatory relief package, with debate on a substitute amendment to the bill spilling over into this week.


Residential Finance News

MBA Chart of the Week: Benefits of a Digital Mortgage

Today's Chart of the Week features results on what lender CIOs perceive as the biggest benefit of offering a digital mortgage--defined as a loan where all documents, including the note, are electronic and all or most of the loan processing and consumer interaction occurs online.

MBANow: MBA Opens Doors Foundation President Deborah Dubois

The Mortgage Bankers Association released a new MBANow video featuring newly appointed President of the MBA Opens Doors Foundation, Deborah Dubois, who discusses her plans to grow the Foundation in the coming years.

The Week Ahead

The Senate continues consideration this week of a bipartisan regulatory relief bill that includes a number of Mortgage Bankers Association-supported provisions.

Commercial/Multifamily News

JLL: Grocery Retailers Slow Expansions, Speed Up Technology Investment

Grocery-anchored retail centers remain attractive to investors, JLL reported. Investment into grocery-anchored centers increased more than 5 percent last year.

Dealmaker: M&T Realty Capital Provides $156M

M&T Realty Capital Corp., Baltimore, provided $155.8 million for multifamily and mixed-use properties in California, Texas, Washington and New York.

MBA News

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 Member Advantage Partner FedEx Small Business Grant Contest

FedEx, a member of the Mortgage Bankers Association's Member Advantage Program, holds its annual Small Business Grant Contest for up to $25,000 in cash and business services. Entry deadline is Wednesday, Mar. 28.

MISMO Seeks Nominations for Residential Standards Governance Committee; Deadline Mar. 21

MISMO seeks nominations for qualified industry professionals to serve the remaining term in vacated Servicing Technology and Service Provider seats on it Ressidential Standards Governance Committee.

MBA Education Closing With Confidence Webinar Series Begins Apr. 11

MBA Education presents a three-part webinar series, Closing with Confidence, beginning Wednesday, Apr. 11 and continuing on Apr. 18 and 25 from 2:00-3:30 p.m. ET.

Top National News

3 Reasons to Be Optimistic about the Future of Non-QM Loans

HousingWire, Mar, 9, 2018--Tom Millon
For years, fans of non-QM loans have been claiming that this year is the year the market will take off. It's happening once again this year, and it's difficult to separate the reality from the hype.

Lloyd Blankfein Prepares to Exit Goldman Sachs as Soon as Year's End

Wall Street Journal, Mar. 9, 2018--Liz Hoffman, Joann S. Lublin (subscription)
Lloyd Blankfein is preparing to step down as Goldman Sachs Group Inc.'s chief executive as soon as the end of the year, capping a more than 12-year run that has made him one of the longest-serving bosses on Wall Street.

Nonbank Mortgage Firms Slash Jobs as Rates, Home Prices Skyrocket

National Mortgage News, Mar. 9, 2018--Brian Collins (subscription)
Nondepository lenders and mortgage brokers cut 3,900 jobs in January, bringing total employment to an estimated 337,200, the Bureau of Labor Statistics reported. The estimates for December employment were also revised down by 400 jobs.

U.S. Economy Creates 313,000 Jobs in February; Wage Growth Slows

Reuters, Mar. 9, 2018--Lucia Mutikani
The U.S. economy added the biggest number of jobs in more than 1-1/2 years in February, but a slowdown in wage growth pointed to only a gradual increase in inflation this year.

Here's What Faster Inflation and Rising Mortgage Rates Mean for Housing

Business Insider, Mar. 11, 2018--Mark Fleming
The author, chief economist with First American Financial Corp., says healthy economic growth and strong labo market, combined with increased risk of inflation and higher interest rates, could lead to reduced home-buying power.

Feds Make It Easier to Obtain Assistance

UExpress, Mar. 9, 2018--Lew Sichelman
The Federal Housing Finance Agency has made it easier for struggling borrowers to complete an application for mortgage help all by themselves: no outside--and expensive--assistance necessary.

Farmer Mac Makes New Business Gains, Sees Spike in Delinquencies

National Mortgage News, Mar. 9, 2018--Elina Tarkazikis (subscription)
The Federal Agricultural Mortgage Corp. reported gains in new business volume, but also realized a big jump in 90-day delinquencies.

Texas Mortgage Servicing Layoffs at Wells Fargo

Mortgage Daily, Mar. 9, 2018
Dozens of positions in the Lone Star State have been eliminated by Wells Fargo & Co. The affected employees work in mortgage servicing.

Claire's Bankruptcy Would Accompany a Shift Away From Malls

Bloomberg, Mar. 9, 2018--Lauren Coleman-Lochner, Eliza Ronalds-Hannon
Claire's Stores Inc., which is said to be preparing a bankruptcy to ease its crushing debt load, is simultaneously working on a second problem: its deep reliance on malls.

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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