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Volume 17 | Issue 89 | Tuesday, May 08, 2018

The Lede


April Mortgage Credit Availability Unchanged

Mortgage credit availability was unchanged in April, the Mortgage Bankers Association reported this morning.


Top National News

MBA Predicts Multifamily Loan Originations Will Take a Tumble

HousingWire, May 7, 2018--Jeremiah Jensen
"Lending terms remain extremely attractive, and we expect another strong year in 2018, although perhaps not quite as strong as 2017," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

N.Y. Attorney General Resigns After Allegations of Physical Abuse

The Hill, May 7, 2018--Brett Samuels
New York Attorney General Eric Schneiderman resigned Monday night after a bombshell report detailing allegations from multiple women of physical abuse against him.

Republican Regulator Who Blasted Dodd-Frank Rules to Step Down

Wall Street Journal, May 7, 2018--Dave Michaels (subscription)
Michael Piwowar said he intends to step down from the SEC on July 7, after serving nearly five years on the five-person commission. Mr. Piwowar's departure would leave the agency with four commissioners, meaning some votes could be deadlocked if the SEC's two Democrats oppose measures favored by Chairman Jay Clayton.

Freddie Mac is Quietly Helping the U.S.'s New Mortgage Kings

Bloomberg, May 7, 2018--Joe Light
Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour. But critics say the financing could create an unfair market advantage that allows preferred lenders to muscle out competitors. (MBA mention)

Americans Know Housing is a Seller's Market but Buyers Still Want In

MarketWatch, May 7, 2018--Andrea Riquier
Is this a good time to buy a house? Economic conditions such as a strong job market say "yes." Housing market fundamentals such as too few homes available for sale say "no." Personal views about owning versus renting say "maybe."

Rising Costs Could Test Mortgage Servicers' Strategies

National Mortgage News, May 7, 2018 (subscription)
Mortgage servicers growing due to acquisitions or the increased value of servicing in the market could remain under pressure if these strategies don't outweigh other rising costs they face.

Black, Low-Income & Nonbank Mortgage Shares Rise

Mortgage Daily, May 7, 2018
A Consumer Financial Protection Bureau summary of data for last year collected as required by the Home Mortgage Disclosure Act shows that a bigger share of loans went to black and low-income borrowers as non-banks did more of the lending.

Radian Cuts M.I. Premiums

Mortgage Daily, May 8, 2018
The updates by the mortgage insurance company are reportedly being made in an effort to provide increased risk-based granularity and align better with industry trends.

Blackstone Buys Gramercy Property Trust for $7.6 Billion

HousingWire, May 7, 2018--Jeremiah Jensen
Blackstone Group announced today that it will buy commercial real estate management group Gramercy Property Trust for $7.6 billion.

Residential Finance News

Black Knight: Home Prices See Strongest Start Since 2005

Black Knight, Jacksonville, Fla., said median home prices have risen by 1.24 percent nationally since the start of 2018, with both January and February having their strongest respective single-month growth rates since 2005.

Fannie Mae Housing Confidence Index Hits Record High

Fannie Mae, Washington, D.C., said its Home Purchase Sentiment Index rose by 3.4 points in April to 91.7, a record survey high.

Commercial/Multifamily News

Tech-Dominated Cities Prosper as Office Rents Decline Nationally

A clear separation is emerging between markets that depend on traditional companies for office space demand and markets fueled by tech and creative sector firms, reported Savills Studley, New York.

Commercial/Multifamily Briefs

The Dodge Momentum Index jumped 6.1 percent in April to 163.0 from the revised March reading of 153.7, Dodge Data & Analytics reported Monday.

Dealmaker: Love Funding Secures $32M for Multifamily

Love Funding, Washington, D.C., closed $32.3 in construction, permanent and refinancing funds for multifamily communities in Texas and Michigan.

MBA News

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 Advanced Risk Management for Mortgage Pros Workshop in Washington June 11-13

MBA Education presents its popular Advanced Risk Management for Mortgage Pros Workshop June 11-13 in Washington, D.C.

MBA Education School of Mortgage Servicing July 16-26

MBA Education offers its popular School of Mortgage Servicing instructor-guided online course July 16-26.

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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