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Volume 17 | Issue 92 | Friday, May 11, 2018

The Lede


After Years of Growth, Single-Family Rentals ‘Stabilizing'

In the wake of the housing crisis, single-family homes grew to more than one-third of U.S. rental stock nationwide. Now, says the Joint Center for Housing Studies at Harvard University, that dramatic growth has stabilized.


Top National News

Mortgage Rates Hold Near 2018 Highs in a 'Nirvana' Moment for Housing, Freddie Mac Says

MarketWatch, May 10, 2018--Andrea Riquier
For now, the housing market is in a sweet spot and mortgage rates are likely to continue moving in a tight range, Freddie Mac Chief Economist said.

Competition Heats Up for Homebuyers Needing a Mortgage

CNBC, May 10, 2018
CNBC's Diana Olick discusses why homebuyers are turning to less traditional financing in today's housing market. (MBA mention)

Banks are Walking Away from Low-Income Homebuyers

CNN Monty, May 11, 2018--Lydia DePillis
Newly released federal data on mortgage lending from the Consumer Financial Protection Bureau shows people with low- and moderate-incomes made up only 26.3% of borrowers in 2017, down from 36.6% in 2009. "Profit margins on lending have come down quite a bit," says Mike Fratantoni, chief economist at the Mortgage Bankers Association, which represents both banks and non-banks. "So a number of banks have de-emphasized their mortgage lending, because there are other business lines they can focus on."

Financial Industry Petitions FCC to Make Robocall Lawsuits Harder to Win

National Mortgage News, May 10, 2018--Brad Finkelstein (free story)
If a financial industry petition to the Federal Communications Commission on the use of autodialers is successful, it could make Telephone Consumer Protection Act cases more difficult to prove for consumer attorneys. But a favorable ruling likely won't halt the proliferation of these suits.

HUD Wants Feedback on Disparate Impact

Mortgage Daily, May 10, 2018
On Thursday in HUD No. 18-035, HUD asked for public comment on whether its 2013 regulation is consistent with the 2015 U.S. Supreme Court ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project Inc.

CFPB to Dramatically Reorganize Operational Structure

HousingWire, May 10, 2018--Kelsey Ramirez
Consumer Financial Protection Bureau Acting Director Mick Mulvaney announced in an email to staff that he plans to reorganize the bureau's operational structure.

Mutual of Omaha to Buy National Mortgage Lender

American Banker, May 10, 2018--Jackie Stewart (subscription)
Mutual of Omaha Bank in Nebraska has agreed to buy Synergy One Lending, a national mortgage lender in San Diego.

Treasury Will Sell $101 Billion in Debt

Wall Street Journal, May 10, 2018
The U.S. will auction $101 billion in securities next week, comprising $42 billion in new debt and $59 billion in previously sold debt.

Downsizing and Servicing Offset Lower Volume at Impac Mortgage

National Mortgage News, May 10, 2018--Bonnie Sinnock (subscription)
Impac Mortgage Holdings Inc. generated almost $4 million in net income during the first quarter as it continued to downsize to adjust for origination declines and benefited from servicing gains.

U.S. Consumer Prices Rise Slightly; Labor Market Tightening

Reuters, May 10, 2018--Lucia Mutikani
U.S. consumer prices rose less than expected in April, suggesting that inflation was increasing at a moderate pace, which could allow the Federal Reserve to continue gradually raising interest rates.

Residential Finance News

For Millennial Home Buyers, a Need for Trade-Offs

As the Millennial generation wades into the housing market, they're being forced to make hard choices either in what they find in a home--or the neighborhood it's in.

ValueInsured Slideshow: How Will New Tax Laws Affect Home Prices?

How will new tax laws affect home prices? It depends on where and who you ask.

Residential Briefs

Wolters Kluwer, Minneapolis, presented results of a survey of 1,032 lender banks at an April webinar, reporting 73 percent of lenders have a plan in place to conduct a thorough Home Mortgage Disclosure Act Compliance Management System review and to remedy any gaps.

Commercial/Multifamily News

Apartment Rent Gains Heat Up With Weather

Multifamily rents continued their strong seasonal gains in April, rising $4--the highest figure since last spring--to a $1,377 national average, reported YardiMatrix, Santa Barbara, Calif.

Dealmaker: Meridian Capital Group Arranges $304M

Meridian Capital Group, New York, arranged $251 million in construction financing for Pier 6 at Brooklyn Bridge on behalf of RAL Companies, Vanke US and Oliver's Realty Group.

MBA News

MBA National Secondary Market Conference & Expo May 20-23

The Mortgage Bankers Association' National Secondary Market Conference & Expo returns to the Marriott Marquis in New York May 20-23.

MBA Mortgage Action Alliance Action Week May 14-18

MAA Action Week is an annual week-long event dedicated to helping real estate finance professionals learn how to become more engaged in political advocacy that supports our industry.

MBA Education Checklist for Effective Compliance Management Systems Webinar May 15

MBA Education presents a new webinar, A Checklist for Effective Compliance Management Systems, on Tuesday, May 15 from 2:00-3:30 p.m. ET.

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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