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Volume 17 | Issue 100 | Wednesday, May 23, 2018

The Lede


House Passes Reg Relief Bill; President Expected to Sign

The House yesterday passed a Mortgage Bankers Association-supported regulatory relief bill, marking the first substantive change to the Dodd-Frank Act since its 2010 passage.


Top National News

MBA's Stevens Points to Political Impact on Housing's Future

National Mortgage Professional, May 22, 2018--Phil Hall
In his final trade conference appearance as President and Chief Executive of the Mortgage Bankers Association, David H. Stevens warned that potential changes in the political landscape could bring a reshuffling of how Washington views the housing and mortgage markets.

2018 Will Test Mortgage Bankers, But Survival Will Pay Off

National Mortgage News, May 22, 2018--Bonnie Sinnock (Free Content)
Originations and margins are thinning, and there will be mortgage banking firms that don't make it through this year, but after that, the numbers may look better. "What a tough business this is right now. Margins are just incredibly tight," Mortgage Bankers Association Chief Economist Mike Fratantoni said at the group's secondary market conference in New York.

Ginnie Mae Preparing to Make Digital Mortgage Leap

National Mortgage News, May 22, 2018--Brad Finkelstein (subscription)
The mortgage industry has been looking for Ginnie Mae to speak about its plans for digital mortgages, said Michael Drayne, senior vice president, issuer and portfolio management at the Mortgage Bankers Association National Secondary Market Conference in New York.

HUD Official: Senate to Vote this Week on Brian Montgomery as FHA Commissioner

HousingWire, May 22, 2018--Ben Lane
The Federal Housing Administration could have an official, Senate-approved leader by the end of this week, a senior advisor at the Department of Housing and Urban Development said Tuesday at the Mortgage Bankers Association's Commercial/Multifamily Servicing and Technology Conference.

First-Time Homebuyers Key to Opening Access to Credit

HousingWire, May 22, 2018--Kelsey Ramirez
Panelists at the MBA National Secondary Market Conference said the key to expanding access to credit is focusing on first-time homebuyers. Currently, the homeownership rate among younger families is not only below 2007 levels but also below the 2001 to 2006 levels, according to Tian Liu, Genworth Mortgage Insurance chief economist.

The Long View: Why Real Estate Tech Won't Kill the Middleman

The Real Deal New York, May 22, 2018--Konrad Putzier
Not too long ago, it seemed like the real estate business was about to enter a new era. To some observers, websites like Zillow and Trulia or office equivalents 42Floors and LoopNet threatened to put brokers out of business. Fast forward a few years, and the opposite seems to be taking place: well-funded startups are currently in a quest to add more and more intermediaries to real estate deals.

Who Needs a Down Payment? Trade In Your Old Home Instead

Wall Street Journal, May 22, 2018--Laura Kusisto (subscription)
Soon it may be nearly as easy to trade in an old home for a new one as it is to dispense with a used car. Open Door Labs Inc., a San Francisco startup that buys homes in cash and turns around and flips them, is getting into business with home builders.

Mortgage LO Sentenced to Prison

Mortgage Daily, May 22, 2018
Joseph DiValli, a New Jersey mortgage loan originator, has been sentenced to hard time because of his role in a scheme involving $6 million in fraudulent residential loans.

HQ Move Creating Over Thousand SC Mortgage Jobs

Mortgage Daily, May 22, 2018
RoundPoint said it is moving its headquarters to Fort Mill, S.C. The servicer is investing $34 million in the new location.

Stability Encumbers CMBS Market

Commercial Property Executive, May 22, 2018--Paul Fiorilla
Forged out of crisis and sharpened during a cycle of frenetic activity, the commercial mortgage-backed securities market is struggling to adjust to a period of relative calm.

Residential Finance News

Applications Down 7th Straight Week in MBA Weekly Survey

Mortgage applications fell for the seventh straight week as key interest rates jumped to seven-year highs, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending May 18.

On Key Secondary Issues, Solutions Remain Elusive

NEW YORK--Regulatory reform, the future of Fannie Mae and Freddie Mac and the transition of the Federal Housing Finance Agency are three of the most critical issues right now--and play a defining role in future housing policy.

For Lenders, Caution Amid Strong Economic Forecast

NEW YORK--A year after predicting robust economic growth at the previous Mortgage Bankers Association National Secondary Market Conference & Expo, MBA Chief Economist Mike Fratantoni and other economists aren't ready to change the script.

Erin Berry Joins MBA as Associate Vice President of Legislative Affairs

The Mortgage Bankers Association hired Erin Berry as Associate Vice President of Legislative Affairs, responsible for representing MBA's legislative and policy issues on Capitol Hill, with a primary focus on Democratic members of the U.S. Senate.

Commercial/Multifamily News

Predicting the Evolving Future of Commercial Real Estate

MIAMI--Commercial real estate looks different today than just a few years ago--and it will look very different in the near future, MBA Vice President of Commercial Real Estate Research Jamie Woodwell said.

Mortgage Servicers Earn MBA Education CCMS Designation

MIAMI--Eight mortgage servicers earned Certified Commercial Mortgage Servicer designations here at the Mortgage Bankers Association CREF Servicing and Technology Conference 2018.

Dealmaker: Arbor Realty Trust Funds $33M

Arbor Realty Trust, Uniondale, N.Y., funded five loans totaling $19.7 million under the Fannie Mae Delegated Underwriting and Servicing Multifamily Affordable Housing product line.

MBA News

MBA CREF Market Intelligence Symposium July 11-12

The Mortgage Bankers Association's Commercial Real Estate Finance Market Intelligence Symposium returns to New York City July 11-12.

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.

MBA Education Successor In Interest State Level Reports Available

MBA and the Compliance Essentials program, in collaboration with leading legal experts, have created state-by-state reports to help servicers understand documents that are required to verify a successor in interest's status in each state.

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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