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Volume 17 | Issue 213 | Tuesday, October 30, 2018

The Lede

 

MBA Raises Concerns on RHS Proposal on Paper-Based Claims

The Mortgage Bankers Association, in a letter last week to the Rural Housing Service, expressed support for the agency's proposed rule to amend its loss-claim and loss-mitigation processes, but cautioned the proposal, as written, could result in increased losses for lenders on foreclosed properties.

 

Top National News

 
MBA Urgest FCC to Stick to Plain Text of Telemarketing Law

Mortgage Professional America, Oct. 29, 2018--Francis Monfort
While Congress enacted the Telephone Consumer Protection Act to combat an abusive form of cold-call telemarketing and fax-blast spamming, MBA said recent litigation has exposed legitimate businesses to unquantifiable uncertainty.

FTC Warns Lenders: Do Not Lie in Loan Refinancing Ads

HousingWire, Oct. 29, 2018--Ben Lane
In the wake of taking action against SoFi for allegedly lying in its ads about how much borrowers can save by refinancing their student loans with the online lender, the Federal Trade Commission is also warning other lenders to not engage in similar activity.

4 Questions Ahead of Fed Proposal to Overhaul Regional Bank Rules

American Banker, Oct. 29, 2018--Neil Haggerty, Hannah Lang (subscription)
For regional banks with more than $100 billion of assets, all eyes will be on the Federal Reserve Wednesday as the U.S. central bank proposes changes to its prudential supervision program for large banks.

Fewer Children And Older Repeat Buyers: 5 Takeaways From the 2018 Housing Market

USA Today, Oct. 29, 2018--Janna Herron
Super-low inventory and quickly rising prices largely framed this year's housing market. But a closer look at 2018's buyers and sellers reveals other intriguing real estate trends.

Mortgage Market is Ripe for Fraud (Again)

National Mortgage News, Oct. 29, 2018--Josh Migdal (subscription)
The author, with law firm Mark Migdal & Hayden, says there are signs in the nonbank mortgage market that now indicate there may be serious issues ahead.

Drop in Purchases Pulls Down Mortgage Market Index

Mortgage Daily, Oct. 29, 2018
An exact reversal of last week had an increase in new refinance business being more than offset by a decline in purchase-money business. Adjustable-rate activity soared. The U.S. Mortgage Market Index from Mortgage Daily, was 111 in the week ended Oct. 26.

The State With the Lowest Downpayment Average Is...

National Mortgage Professional, Oct. 29, 2018--Phil Hall
Spoiler Alert: it's Alaska.

Residential Finance News

 
FHFA Issues Proposed Rule on Federal Home Loan Bank Housing Goals

The Federal Housing Finance Agency yesterday proposed amendments to existing regulations for Federal Home Loan Bank housing goals.

Loan Defect Risk Trends Up Following Hurricanes

If history is any indicator, the Carolinas and the Florida Panhandle can expect to see loan defect spikes in the coming months, said First American Financial Corp., Santa Ana, Calif.

Time Spent Saving for Home Down Payment Getting Longer

Home values have grown by nearly twice as much as incomes have over the past 20 years, said Zillow.com, Seattle. And that is having long-term consequences, not only for Millennials but for current homeowners as well.

Commercial/Multifamily News

 
Tech Employers' Spillover Effect on Office Rents

Technology companies from northern California, Seattle, Boston and New York are expanding into new markets, creating more office space demand and rent growth in beneficiary markets, reported CBRE, Los Angeles.

Dealmaker: Avanath Acquires Two Apartment Communities for $72M

Avanath Capital Management, Irvine, Calif., acquired two metro Chicago multifamily properties totaling 668 units for $72.2 million.

MBA News

 
MBA Accounting & Financial Management Conference in Orlando Nov. 12-14

The Mortgage Bankers Association's MBA Accounting & Financial Management Conference takes place in Orlando Nov. 12-14.

MBA Education Fundamentals and Best Practices in Mortgage Accounting Workshop Nov. 12

MBA Education presents a workshop, Fundamentals and Best Practices in Mortgage Accounting Workshop, on Monday, Nov. 12 at the Hyatt Regency Orlando.

Upcoming MBA Education School of Mortgage Banking II Courses

MBA Education presents its popular School of Mortgage Banking Course II Nov. 27-30 at USAA in Tampa, Fla.

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.