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Volume 17 | Issue 230 | Tuesday, November 27, 2018

The Lede


Black Knight: Seriously Delinquent Loans at 12-Year Low

Black Knight, Jacksonville, Fla., said seriously past-due loans fell to pre-recession levels as October mortgage delinquencies fell by nearly 18 percent from a year ago, while foreclosure starts saw an uptick.


Top National News

GSE Capital Rule is Hypothetical, But FHFA Gets Earful Anyway

National Mortgage News, Nov. 26, 2018--Hannah Lang (subscription)
A risk-based capital plan for Fannie Mae and Freddie Mac is only theoretical as long as the two mortgage giants remain under government control. But the Federal Housing Finance Agency proposal requiring the government-sponsored enterprises to prepare for future crises still elicits strong opinions. (MBA mention)

Weren't Algorithms Supposed to Make Digital Mortgages Colorblind?

American Banker, Nov. 26, 2018--Penny Crossman (subscription)
When banks and fintechs offer mortgages online using automated underwriting, they charge creditworthy minorities more than white applicants - the same way human loan officers do. That's the conclusion of a study conducted by professors at the University of California, Berkeley.

Altisource Portfolio Solutions Ending Home Buying Business

HousingWire, Nov. 26, 2018--Ben Lane
Altisource plans to discontinue its "Buy-Renovate-Lease-Sell" business, which focuses on buying, renovating, leasing and selling single-family homes to real estate investors.

Real House Price Growth Accelerates

National Mortgage Professional, Nov. 26, 2018--Phil Hall
Real house prices increased two percent between August and September and increased 15.3 percent from September 2017, according to the latest Real House Price Index report from First American Financial Corp.

Battered Mortgage Sector May Be Set for a Performance Turnaround

Bloomberg, Nov. 26, 2018--Christopher Maloney
In terms of excess return versus Treasuries, the performance of mortgage securities since September provided fixed-income investors little to brag about over the holiday dinner table. All of this begs the question--have mortgages cheapened enough for a turnaround?

Wide-Open Outlook for Fed Rate Policy in 2019

Wall Street Journal, Nov. 27, 2018--Nick Timiraos (subscription)
Federal Reserve officials are moving into a more unpredictable phase of policy-making after two years of removing economic stimulus in regular, quarterly intervals.

Residential Finance News

MBA, Trade Groups Urge Senate Approval of Ginnie Mae Nominee

The Mortgage Bankers Association and 30 industry trade groups sent a letter to Senate leaders urging approval of Michael Bright as Ginnie Mae President.

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.

October Closing Rates Reach 2018 High

Ellie Mae, Pleasanton, Calif., said closing rates for all loans increased to 72.2 percent in October, the highest point in 2018.

Commercial/Multifamily News

Demand for Industrial Real Estate Remains Strong; Debt Pricing on the Rise

While demand for distribution and warehouse space remains strong across most U.S. markets, investors should expect to pay more for debt financing heading into 2019, said Avison Young, Toronto.

Commercial/Multifamily Briefs

Macerich, Santa Monica, Calif., launched BrandBox as a way for digital-native brands to open and operate brick-and-mortar stores and scale physical retail as a complement to e-commerce.

Dealmaker: HFF Arranges $337M in Financing

Holliday Fenoglio Fowler LP arranged $337 in financing for an Atlanta office/retail complex in Atlanta and and retail properties in Massachusetts and Florida.

MBA News

CREF19 in San Diego Feb. 10-13

The Mortgage Bankers Association's Commercial Real Estate Finance/Multifamily Housing Convention & Expo 2019 returns to San Diego Feb. 10-13.

Participate in MBA's New Home Equity Lending Study

The Mortgage Bankers Association announces its new Home Equity Lending Study. The initial planning call takes place Tuesday, Dec. 11 at 2:00 p.m. ET.

MBA Education School of Loan Origination Begins Jan. 22

MBA Education presents its popular School of Loan Origination instructor-guided online course from Jan. 22-Feb. 14.

About MBA Newslink

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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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