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Volume 17 | Issue 49 | Tuesday, March 13, 2018

The Lede

 

Senate Begins Crucial Week of Reg Relief Bill Debate

The Senate yesterday kicked off another week of debate on a sweeping regulatory relief bill that includes several provisions strongly supported by the Mortgage Bankers Association.

 

Residential Finance News

 
MBA: February New Home Purchase Mortgage Apps Up 3%

Mortgage Bankers Association Builder Application Survey data for February show mortgage applications for new home purchases increased by 3 percent from January and by 4.6 percent from a year ago.

Mortgage Industry Still ‘Late to the Game' in Adopting Technology

It's 2018. Is this the year the mortgage industry finally bridges the Digital Divide? According to J.D. Power, Westlake Village, Calif., the answer is, not quite but it's getting there.

Commercial/Multifamily News

 
Real Estate Fund Manager Concerns Grow

Real estate fund managers' concerns are intensifying, with rising interest rates further complicating the operation of a real estate portfolio, said Preqin, New York.

Dealmaker: DiamondRock Hospitality Pays $122M for Two Hotels

DiamondRock Hospitality Co., Bethesda, Md., acquired the Kimpton Hotel Palomar and The Landing Resort & Spa for a combined $122 million.

MBA News

 
MBA Legal Issues/Regulatory Compliance Conference in L.A. Apr. 29-May 2

The Mortgage Bankers Association's annual Legal Issues and Regulatory Compliance Conference takes place Apr. 29-May 2 at the J.W. Marriott L.A. Live in Los Angeles.

MISMO Implementation Framework Case Study Part II Mar. 20-23

MISMO presents its Implementation Framework Cast Study Part II instructor-guided online course Mar. 20-23.

MBA Education School of Loan Origination Instructor-Guided Online Course Apr. 30-May 24

MBA Education offers its School of Loan Origination Instructor-Guided Online Course Apr. 30-May 24.

MBA Education Introduction to Mortgage Banking Series Apr. 3-17

MBA Education presents its popular Introduction to Mortgage Banking Instructor-Guided Online Course on Tuesdays and Thursdays from Apr. 3-17.

Top National News

 
Credit Standards Tighten in February

Mortgage Professional America, Mar. 12, 2018--Francis Monfort
Credit standards tightened in February from January, according to a report from the Mortgage Bankers Association.

Senate Bill Would Diminish Mortgage Disclosures by Banks

Associated Press, Mar. 12, 2018
Proponents of narrowing the scope of Home Mortgage Disclosure Act requirements say they unfairly affect smaller, rural banks that are trying to remain active in mortgage lending. There are a lot of banks that make a relatively small number of mortgage loans, said Michael Fratantoni, chief economist at the Mortgage Bankers Association.

Report of the 30-Year Mortgage's Death was an Exaggeration

National Mortgage News, Mar. 12, 2018--Brad Finkelstein (subscription)
If government-sponsored enterprise reform leads to the 30-year mortgage's demise, homebuyers' monthly payments could soar by $400, Zillow estimated. But lenders aren't convinced this housing finance staple is in danger of being replaced.

Housing Affordability Crisis? Maybe Not, According to New Data

The Mortgage Reports, Mar. 12, 2018--Aly J. Yale
There's a lot of talk about the housing affordability crisis faced by Millennial home buyers. But according to new data from Trulia, today's buyers are actually enjoying a much more affordable market than their parents did 40 years ago.

Amazon Could Seize Opportunity in Fractured Mortgage Market

Inman, Mar. 12, 2018--Veronika Bondarenko
E-commerce giant might be considering a move into lending, a huge departure from its business model that would require working through a lot of red tape.

CMBS Delinquency Rates Improve Except for Retail Property Loans

National Mortgage News, Mar. 12, 2018--Brad Finkelstein (subscription)
With the exception of the troubled retail sector, delinquency rates across property types supporting commercial mortgage-backed securities were mostly flat to declining in February compared with January, Fitch Ratings said.

Mortgage Service Provider Hiring

Mortgage Daily, Mar. 12, 2018
Based in Bethesda, Md., Oakleaf is preparing for an increase in business for loans that don't meet Qualified Mortgage requirements.

More Mortgage LOs Leave Banks for Non-Banks

Mortgage Daily, Mar. 12, 2018
As the number of residential loan originators grew last year, a bigger share of the group found themselves working at non-bank lenders for the second year in a row.

Why HSBC is Getting Back into Mortgages

American Banker, Mar. 12, 2018--Laura Alix (subscription)
You could be forgiven for wondering if this is a weird time for HSBC to get back into U.S. mortgage lending.

Flagstar Closes on Santandar Bank Mortgage Warehouse Portfolio Acquisition

HousingWire, Mar. 12, 2018
Flagstar Bank announced Monday it closed on the purchase of the mortgage warehouse loan portfolio from Santander Bank, which included $1.7 billion in mortgage warehouse loan commitments.

Blackstone REIT Triples Industrial Holdings With $1.8 Billion Deal

Bloomberg, Mar. 12, 2018--Noah Buhayar
The Canyon Industrial Portfolio includes 146 warehouses and distribution centers concentrated in and around Chicago, Dallas, Baltimore, Washington, D.C., Los Angeles and South and Central Florida, according to a statement from Blackstone on Monday.

U.S. Inflation Expectations Rise: New York Fed Survey

Reuters, Mar. 12, 2018--Jonathan Spicer
U.S. inflation expectations edged higher last month, with one measure hitting its highest level in a year, according to a Federal Reserve Bank of New York survey published Monday that adds to signs of price pressures.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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One Voice. One Vision. One Resource. The Mortgage Bankers Association  (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.