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Volume 17 | Issue 233 | Friday, November 30, 2018

The Lede


Keeping Up with D&I in a Down Market

WASHINGTON--"You've heard the phrase, ‘it takes a village;' for us, ‘it takes a community,'" said Lisa J. Haynes, Chief Financial Officer and Chief Diversity and Inclusion Officer with the Mortgage Bankers Association.


Top National News

MBA Reports Net Gain Per Loan Drops

The Mortgage Leader, Nov. 29, 2018
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $480 on each loan they originated in the third quarter, down from a reported gain of $580 per loan in the second quarter, according to the Quarterly Mortgage Bankers Performance Report from the Mortgage Bankers Association.

Mortgage Rates Hold Steady, Taking Pause After the Thanksgiving Holiday

Washington Post, Nov. 29, 2018--Kathy Orton
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average stayed the same, at 4.81 percent, with an average 0.5 point. It was 3.90 percent a year ago. (MBA mention)

Natural Disasters Hasten Housing Market Slowdown

HousingWire, Nov. 29, 2018--Alcynna Lloyd
Mortgage Bankers Association Chief Economist Mike Fratantoni cites California's recent wildfires as cause for concern. "The hurricanes in the South and wildfires in the West likely impacted both month's numbers and continue to cloud the picture of the housing market's overall strength," Fratantoni said.

Former Head of FHA and MBA David Stevens Blasts Reverse Mortgages

HousingWire, Nov. 29, 2018--Jessica Guerin
The former commissioner of the Federal Housing Administration--who recently stepped down as president and CEO of the Mortgage Bankers Association--posted a comment about HECMs on LinkedIn last week that ignited a chain of heated commentary about the product.

U.S. 2019 Housing Market Outlook on Shaky Ground

Reuters, Nov. 29, 2018--Hari Kishan, Indradip Ghosh
Growth of U.S. home prices will slow sharply next year along with economic momentum, according to a Reuters poll of property experts who largely said turnover in the housing market has peaked. (MBA mention)

Senate Vote Puts Kraninger Step Closer to Leading CFPB

American Banker, Nov. 29, 2018--Kate Berry (subscription)
A motion to limit debate on Kraninger's nomination passed along strictly party lines, 50-49, advancing the nominee to a final vote.

Mortgage Rates Could Head Lower after Powell Comment Drives Bond Yield to Important Level

CNBC, Nov. 29, 2018--Patti Domm
With the Fed sounding more dovish, the bond market is adjusting and now signaling that rates for mortgages and other consumer loans could be lower in the near future than what was expected just a few days ago.

Conventional Loan Limits Increase for a Third Year

The Press-Enterprise (Calif.), Nov. 29, 2018--Jeff Lazerson
It's a trifecta for Southern California mortgage shoppers as the Federal Housing Finance Agency, or FHFA (Fannie and Freddie's conservator and regulator), boosted local conforming and so-called agency high-balance or super-conforming loan limits three years in a row.

Residential Finance News

Pending Home Sales Fall 10th Straight Month

Pending home sales fell by 2.6 percent in October, the 10th consecutive monthly decrease, the National Association of Realtors reported yesterday.

Early 2019 Housing Outlooks Paint Mixed Picture

It's almost December, which means it's time for prognostications and predictions for 2019. Two early reports, from Trulia, San Francisco; and Zillow, Seattle, suggest a challenging environment for the housing market next year.

Commercial/Multifamily News

CRE's Risk (or Not) to the Financial System

Several factors could trigger the next recession, but it's unlikely a sharp downturn in commercial real estate will be the cause, said Wells Fargo Securities, Charlotte, N.C.

Dealmaker: Grandbridge Closes $73M in Retail, Office

Grandbridge Real Estate Capital, Charlotte, N.C., closed $73.4 million in financing for retail and office assets in Michigan and Georgia.

MBA News

MISMO Winter Summit in Clearwater, Fla. Jan. 7-11

The MISMO Winter Summit takes place Jan. 7-11 in Clearwater, Fla.

Call for Nominations for MBA Insights 2019 Tech All-Star Awards; Deadline Jan. 11

The Mortgage Bankers Association and MBA Insights are accepting nominations for the MBA Insights 2019 Tech All-Star Awards. Nominations will be accepted through Friday, Jan. 11.

MBA Education Compliance Essentials State Mortgage Servicing Rules Deep Dive Workshop Feb. 25

MBA Education and the Compliance Essentials program present State Mortgage Servicing Rules Deep Dive Workshop on Feb 25 at the Hyatt Regency Orlando in conjunction with the MBA National Mortgage Servicing Conference & Expo.

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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