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Volume 17 | Issue 229 | Monday, November 26, 2018

The Lede

 

October Existing Home Sales Up First Time in 6 Months

Existing home sales rose in October for only the first time in six months, the National Association of Realtors reported Wednesday, as home prices eased and inventories improved.

 

Top National News

 
Trump Faults Treasury Secretary over Fed Pick

Wall Street Journal, Nov. 23, 2018--Peter Nicholas, Nick Timiraos, Bob Davis
President Trump has expressed dissatisfaction with Treasury Secretary Steven Mnuchin, blaming him for the appointment of a Federal Reserve chairman who has been raising interest rates, a move Mr. Trump worries will jeopardize economic gains as his 2020 re-election campaign approaches.

Borrowers Are Tapping Their Homes for Cash, Even as Rates Rise

Wall Street Journal, Nov. 25, 2018--Ben Eisen, Christina Rexrode (subscription)
More than 80% of borrowers who refinanced in the third quarter chose the "cash out" option, withdrawing $14.6 billion in equity out of their homes, according to government-sponsored mortgage corporation Freddie Mac. That is the highest share of cash-out refis since 2007.

Cheat Sheet: Hopes and Hang-Ups on CRA Reform

National Mortgage News, Nov. 25, 2018--Rachel Witkowski, Kate Berry (subscription)
Bank regulators have not come out with a formal plan for updating the Community Reinvestment Act, but a preliminary list of questions about the reform effort issued by the Office of the Comptroller of the Currency has produced a treasure trove of public feedback to guide their deliberations.

What if You Could Trade Sweat Equity for a Cash Down Payment and Closing Costs?

Orange County Register, Nov. 24, 2018--Jeff Lazerson
This week Freddie Mac gave the go-ahead to unlimited sweat equity to count toward your down payment and closing costs through its enhanced Home Possible Mortgage program.

Odd Parcels: Alimony Tax Changes, Neighborhood Regret, More

UEXpress, Nov. 23, 2018--Lew Sichelman
Homeowners are staying in their places longer than ever, according to the Census Bureau, further exacerbating the inventory shortage of houses for sale in many markets.

Residential Finance News

 
MBA Chart of the Week: Thanksgiving Consumption

In the spirit of Thanksgiving, we looked at the annual price changes of some popular items typically purchased by consumers during Thanksgiving week, using data from the Consumer Price Index.

Appraisers, Homeowners Remain Near Alignment on Home Values

Quicken Loans, Detroit, said owner perceptions of their home value--and appraisers' estimates--remained in relative alignment for the eighth consecutive month.

The Week Ahead

The Mortgage Bankers Association's annual Summit on Diversity and Inclusion begins Tuesday, taking place Nov. 27-28 at the Capital Hilton in Washington, D.C.

Commercial/Multifamily News

 
MBA, Real Estate Groups Urge Support for Invest in America Act

The Mortgage Bankers Association and 16 other real estate organizations urged Congress to support the bipartisan Invest in America Act (H.R. 6726) recently introduced by Kenny Marchant, R-Texas, and Joseph Crowley, D-N.Y.

Dealmaker: Thorofare Capital Funds $53M In Office, Hotel Loans

Thorofare Capital, Los Angeles, funded two loans totaling $52.8 million secured by office and hotel properties in Dallas and Miami.

MBA News

 
MBA Independent Mortgage Bankers Conference Jan. 28-31

The Mortgage Bankers Association's Independent Mortgage Bankers Conference takes place Jan. 28-31 at the Hyatt Regency San Francisco.

MBA Education School of Mortgage Banking Course III Dec. 4-7 in Dallas

MBA Education presents its School of Mortgage Banking Course III Dec. 4-7 at Mr. Cooper in Dallas.

MBA Member Advantage Program Adds New Partners

Your MBA membership entitles you to discounts on services such as office supplies, car rental, shipping, employee benefit services and more though our affinity program: MBA Member Advantage.

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.