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Volume 17 | Issue 21 | Thursday, November 01, 2018

The Lede

 

Is Now a Good Time to Buy? Signs Point to ‘Yes'

All that talk about a 2020 shift to a buyers' housing market might have been a tad pessimistic, as a combination of economic factors point to a market now in which buyers have more leverage.

 

Top National News

 
Mortgage Insurer 3Q Earnings Soar Even as Originations Declined

National Mortgage News, Oct. 31, 2018--Brad Finkelstein (subscription)
During the third quarter, there was an estimated $457 billion of originations, with $346 billion coming from purchases, according to the Mortgage Bankers Association. Earnings at four of the private mortgage insurers increased significantly over last year's third quarter even as total mortgage origination volume shrunk during the same time frame.

Stock Market Swings May Have Hit Mortgage Applications, Down 2.5%

CNBC, Oct. 31, 2018--Diana Olick
"Purchase applications may have been adversely impacted by the recent uptick in rates and the significant stock market volatility we have seen the past couple of weeks," says Joel Kan, an MBA economist.

How Freddie Mac's Preparing for Day it Might Enter Private Sector

National Mortgage News, Oct. 31, 2018--Bonnie Sinnock (subcription)
Should policymakers ever resolve their impasse over housing finance reform, Freddie Mac's third-quarter earnings report points to the mortgage giant being in better position to exit its federal conservatorship and attract private capital.

Freddie Mac CEO: I've Done What I Came Here to Do

HousingWire, Oct. 31, 2018--Kelsey Ramirez
Freddie Mac CEO Donald Layton [pictured below] said he accomplished his two main goals during his tenure leading the company. Layton announced in early September his plans to retire, saying he would step down as CEO in the second half of 2019.

Fed Proposes Looser Rules for Large U.S. Banks

Wall Street Journal, Oct. 31, 2018--Ryan Tracy (subscription)
The Federal Reserve announced one of the most significant rollbacks of bank rules since President Trump took office with a proposal for looser capital and liquidity requirements for large U.S. lenders.

Why Do We Have a 30-Year Mortgage, Anyway?

Marketplace, Oct. 31, 2018--Amy Scott
Of course, you can still get 5-, 15-, and 20-year mortgages, if you can afford the higher monthly payments. And plenty of people still choose adjustable rates. But according to the Mortgage Bankers Association, the 30-year fixed is so ingrained in the home-buying system, it made up 88 percent of applications last month.

Mortgage Borrower Credit Scores Take Nearly a Year to Recover

National Mortgage News, Oct. 31, 2018--Elina Tarkazikis (subscription)
Mortgage borrower credit scores hit their low points more than five months after making a home purchase, but lender reporting cycles also cause these results to vary, according to a LendingTree study.

AIG's Loss Narrows, But Catastrophe Claims Still Sting

Wall Street Journal, Aug. 31, 2018--Leslie Scism (subscription)
Insurance giant American International Group Inc. posted a $1.26 billion third-quarter net loss, weighed down by policyholders' claims from Asian typhoons, California mudslides and Hurricane Florence in the U.S. Southeast.

Residential Finance News

 
Migration Trends Accelerate as More Leave High-Price Housing Markets

More people are moving from high-cost housing areas such as Denver, San Francisco and Los Angeles to affordable, low-tax inland job centers in states such as Florida, Texas and Tennessee, said Redfin, Seattle.

Residential Briefs

TCN Worldwide Real Estate Services, Reno, Nev., announced Chase International Commercial as the newest member.

Commercial/Multifamily News

 
Industrial Activity Surge Leads to Record-Breaking Quarter

Industrial activity surged in the third quarter, led by demand from the third-party logistics and packaging industry, reported Colliers International, Toronto.

Commercial/Multifamily Briefs

Capital One, McLean, Va., established a new unitranche loan program focused on commercial and healthcare real estate with Kayne Anderson Real Estate, Los Angeles, as co-investor.

Dealmaker: Newmark Arranges $26M for Mixed-Use, Retail Centers

Newmark, San Francisco, arranged $25.8 million for mixed-use and retail centers in Tucson, Ariz. and Spokane, Wash.

MBA News

 
MBA National Mortgage Servicing Conference & Expo in Orlando Feb. 25-28

The Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2019 (Servicing19) returns to Orlando Feb. 25-28.

MBA Education Introduction to Mortgage Banking Nov. 6-20

MBA Education presents its popular Introduction to Mortgage Banking instructor-guided online course Nov. 6-20.

MBA Compliance Essentials Offers Certified Mortgage Compliance Professional Designation Level 1

Earn recognition for your mortgage compliance expertise: MBA Education and the MBA Compliance Essentials program offer the only certification and designation program geared exclusively towards compliance professionals in the mortgage finance industry, the Certified Mortgage Compliance Professional (CMCP).

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.