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Volume 17 | Issue 231 | Wednesday, November 28, 2018

The Lede


Applications Up in MBA Weekly Survey

Mortgage applications increased from one week earlier as home buyers took advantage of lower interest rates, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending November 23.


Top National News

Why the Housing Slowdown Won't Become a Housing Crash, Nov. 27, 2018--Melody Hahm
"The notable deceleration in median home price growth, 3.8% in October compared to roughly 6% in 2017, is a positive sign, as it indicates that home prices are rising at a more sustainable pace," according to Mortgage Bankers Association Chief Economist Mike Fratantoni.

Real Estate, Title Agents Embrace Fintech, But Lose Faith in Homebuyers

National Mortgage News, Nov. 27, 2018--Elina Tarkazikis (subscription)
As the mortgage industry points to the lagging technology efforts of other housing market segments as a pain point in streamlining the process, fintech adoption among real estate and title agents is accelerating, though their optimism on the housing market tanked this fourth quarter, according to First American Financial Corp.'s Real Estate Sentiment Index.

Homeownership for Older Millennials Quickly Becomes a Thing

HousingWire, Nov. 27, 2018--Jacob Gaffney
It appears Millennials are growing older and wiser, and the eldest in the generation are buying homes more and more, as the younger ones continue to push up demand for rentals.

El-Erian: Fed Will Have to Go Through With Another Rate Hike Next Month or Risk Appearing Politically Influenced

CNBC, Nov. 27, 2018--Berkeley Lovelace Jr.
The Federal Reserve next month will be forced to hike interest rates for a fourth time in 2018 or risk being seen as politically coerced, economist Mohamed El-Erian told CNBC on Tuesday.

Another Warning Sign That the U.S. Economy Will Slow Next Year

Bloomberg, Nov. 27, 2018--Sho Chandra, Liz McCormick
Juiced by President Donald Trump's tax cuts, business investment helped deliver a robust U.S. economy in the first half of 2018, but signs have multiplied that the growth driver is faltering.

Prudential Making a Big Bet on Lower-Income Housing

Wall Street Journal, Nov. 27, 2018--Peter Grant (subscription)
A venture led by Prudential Financial Inc. is spending nearly $600 million for 4,000 housing units aimed at lower-income workers, the latest sign that investors see bigger gains in lower-rent apartments than in the upscale ones that have led the recovery.

Residential Finance News

FHFA Announces 7% Increase in GSE Conforming Loan Limits

The Federal Housing Finance Agency yesterday announced a nearly 7 percent increase in conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019.

MBA Announces Record 149 Path to Diversity Scholarship Winners

The Mortgage Bankers Association announced a record 149 individual employees from MBA member companies were awarded a Path to Diversity scholarship during the 2018 fiscal year.

Mortgage Action Alliance Seeks Nominees for 3 Steering Committee Seats

The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association is accepting nominations to fill three at-large seats on its 2019-2020 Steering Committee. Applications will be accepted through Dec. 3.

Amid Growing Inventories, Home Price Gains Continue Slowdown

S&P Dow Jones Indices, New York, reported home price increases slowed for the second consecutive month. Other reports suggest rising mortgage rates, lower demand and rising housing inventories are having an impact on overheated housing markets.

Commercial/Multifamily News

CRE Transaction Volume Up 14% through 3Q

Commercial real estate transaction volumes through the first three quarters increased 14.2 percent over last year to $341.2 billion, reported JLL, Chicago.

Dealmaker: Arbor Funds $49M in Multifamily Loans

Arbor Realty Trust, Uniondale, N.Y., recently funded $48.7 million secured by multifamily properties in North Carolina and Utah.

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 School of Mortgage Servicing Mar. 4-14

MBA Education presents its School of Mortgage Servicing instructor-guided online course Mar. 4-14.

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

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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