Not displaying correctly? View in a browser
Volume 17 | Issue 232 | Thursday, November 29, 2018

The Lede

 

Leading the Charge: Executives Making a Difference in Diversity & Inclusion

WASHINGTON--"Our industry is taking the right steps in the right direction to be a more diverse and more inclusive workforce; to be better positioned to help a more diverse customer base," said Mortgage Bankers Association President and CEO Robert D. Broeksmit, CMB.

 

Top National News

 
Mortgage Bankers Association Expects More Millennials to Buy Houses

CNBC, Nov. 29, 2018
Bob Broeksmit, Mortgage Bankers Association President and CEO, joins 'Squawk Box' to discuss the latest MBA housing forecast.

Weekly Mortgage Applications Rise 5.5% as Homebuyers Edge Back In

CNBC, Nov. 28, 2018--Diana Olick
Total mortgage application volume increased 5.5 percent last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was still 16 percent lower than a year ago.

Zillow Predicts 5.8 Percent Mortgage Rate in 2019

National Mortgage Professional, Nov. 28, 2018--Phil Hall
Next year will be marked by increasing mortgage rates and decreasing affordable homeownership opportunities, according to a new forecast from Zillow.

FHFA: House Prices Increase 1.3%

The Mortgage Leader, Nov. 28, 2018
House prices rose 1.3 percent in the third quarter of 2018, according to the Federal Housing Finance Agency House Price Index. House prices rose 6.3 percent from third quarter 2018 to third quarter 2017.

Corelogic: California's Wildfire Cost Estimated $15B-$19B

The Mortgage Leader, Nov. 29, 2018
According to the analysis, losses from the Camp Fire, the most destructive wildfire in the state's history, are estimated to be between $11 billion and $13 billion. In addition, losses from the Woolsey Fire in Southern California are estimated to be an additional $4 billion to $6 billion.

Freddie Mac Reveals 'Biggest Unknown' for Housing in 2019

HousingWire, Nov. 28, 2018--Kelsey Ramirez
The biggest unknown for housing in 2019 are the current negative trends, according to Freddie Mac's forecast. These trends include lack of housing supply, and whether that will persist and/or rising interest rates and if the market will adjust to the shock and resume its modest growth.

U.S. Third-Quarter Growth Unrevised, Headwinds Increasing

Reuters, Nov. 28, 2018--Lucia Mutikani
The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration's 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter.

Residential Finance News

 
MBA: 3Q IMB Profits Lag

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 $580 per loan in the second quarter and $929 a year ago, the Mortgage Bankers Association reported this morning.

October New Home Sales Fall 9%

New home sales fell of sharply in October, hampered by rising interest rates and weather events in the South and West, HUD and the Census Bureau reported yesterday.

Residential Briefs

The Federal Housing Finance Agency published a final rule amending its regulation for the Federal Home Loan Banks' Affordable Housing Program.

Commercial/Multifamily News

 
MBA Offers Recommendations on HVCRE Exposures

The Mortgage Bankers Association weighed in yesterday on proposed changes to the High Volatility Commercial Real Estate risk-based capital rule, offering recommendations on implementation issues and expressing concerns about certain rule interpretations.

Dealmaker: George Smith Partners Secures $115M Hotel Construction Loan

George Smith Partners, Los Angeles, secured a $115 million non-recourse senior construction loan to develop a 326-key Radisson Blu hotel in Anaheim, Calif.

MBA News

 
MBA Technology Solutions Conference & Expo Mar. 24-27 in Dallas

The Mortgage Bankers Association's Technology Solutions Conference & Expo 2019 takes place Mar. 24-27 at the Hyatt Regency Dallas.

MBA School of Mortgage Banking II in D.C. Mar. 5-8

MBA Education presents its popular School of Mortgage Banking Course II Mar. 5-8 at MBA headquarters in Washington, D.C.

MBA Disaster Recovery Guide Now Available in Spanish

The Mortgage Bankers Association and the National Association of Hispanic Real Estate Professionals have developed a Spanish-language version of Disaster Recovery: A Resource for Homeowners, a consumer-facing informational guide.

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

MBA NewsLink, a daily electronic publication, is a member benefit free to employees of MBA member companies, and available by paid subscription to non-members. For membership information, click here.

If this email has been forwarded to you, please visit our web site to subscribe.

The links at the end of each abstract are to the publisher, publication, or article. Some links may require registration or subscription.

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.