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Volume 17 | Issue 202 | Tuesday, October 16, 2018

The Lede


Mulvaney: Regulation by Enforcement is ‘Done'

WASHINGTON, D.C.--Bureau of Consumer Financial Protection Acting Director Mick Mulvaney said despite perceptions that the Bureau has stopped enforcing laws and regulations, the Bureau "continues to function as we did before--we are just taking a different way of looking at it."


Top National News

Meet Your New MBA President and CEO: Robert Broeksmit

National Mortgage Professional, Oct. 15, 2018--Rick Grant
We sat down with MBA President and CEO Robert Broeksmit to find out more about what he brings to this position and where he hopes to lead the mortgage business from here.

CFPB to Define ‘Abusive' Acts by Financial Firms

Wall Street Journal, Oct. 15, 2015--Yuka Hayashi (subscription)
Mick Mulvaney, the Consumer Financial Protection Bureau's acting director, said Monday the bureau is working on a regulation defining how it views unfair, deceptive or abusive acts or practices, known as UDAAP. (MBA mention)

Mnuchin's Top Housing Advisor Says GSE Charters Should be Removed

HousingWire, Oct. 15, 2018--Ben Lane
Craig Phillips, Department of the Treasury Secretary Steven Mnuchin's top housing advisor, told the crowd at the Mortgage Bankers Association 2018 Annual Conference in Washington, D.C., on Monday that the Trump administration is working to end the conservatorship of Fannie Mae and Freddie Mac.

Reducing Gap Between FHA, Conventional Market is Priority: Montgomery

National Mortgage News, Oct. 15, 2018--Hannah Lang (subscription)
FHA is planning to streamline its single-family loan servicing requirements in order to align them with industry standards. These efforts are part of the Trump administration's objective to ease regulatory burdens, said FHA Commissioner Brian Montgomery during a speech at the Mortgage Bankers Association's annual conference Monday.

Yellen Defends Fed Against Trump Attacks

CNN, Oct. 15, 2018--Lydia DePillis
Speaking to the annual Mortgage Bankers Association convention here, former Federal Reserve Chair Janet Yellen said she has confidence in her Trump-appointed successor, Jerome Powell, and that she didn't believe Trump's comments last week describing recent moves to raise interest rates as "loco" would impact Fed policy.

Wells Fargo Protestors Disrupt MBA Annual 2018

HousingWire, Oct. 15, 2018--Caroline Basile
A relatively quiet day at the Mortgage Bankers Association's annual convention was disrupted by dozens of Wells Fargo protestors. The protestors descended upon the main lobby and concourse of the Walter E. Washington Convention Center for nearly 10 minutes on late Monday afternoon.

Record BofA Pre-Tax Earnings as Home Lending Drops

Mortgage Daily, Oct. 15, 2018
Bank of America's third-quarter income before income taxes climbed to $9.0 billion from $7.6 billion during the same three months in 2017, according to earnings data released Monday.

Residential Finance News

MBA Announces 2018 Residential Diversity & Inclusion Leadership Award Winners

WASHINGTON, D.C.--The Mortgage Bankers Association recognized four companies as its 2018 Residential Diversity and Inclusion Leadership award recipients here at the Association's Annual Convention & Expo.

Departing GSE Leaders Cite Gains Under Conservatorship

WASHINGTON, D.C.--Tim Mayopoulus joined lenders here at the Mortgage Bankers Association's Annual Convention & Expo on his last day of work at Fannie Mae.

Residential Briefs

LenderLive Holdings, Denver, the parent company of LenderLive Services, LenderLive Network and Require Holdings, announced it is rebranding itself as Covius Holdings.

Commercial/Multifamily News

CMBS Delinquency Rate Drops Again; More than $10B in Retail Debt Affected By Sears Bankruptcy

The commercial mortgage-backed securities delinquency rate fell 23 basis points in September to 3.41 percent, reported Trepp LLC, New York.

Dealmaker: Walker & Dunlop Arranges $65M for Retail, Mixed-Use

Walker & Dunlop, Bethesda, Md., structured $61 million in financing to recapitalize The Shops at Dakota Crossing, a 140,000 square-foot Washington, D.C. retail center.

MBA News

Today at #MBAAnnual18

WASHINGTON, D.C.--The Mortgage Bankers Association's Annual Convention & Expo continues today, Oct. 16, with a full slate of sessions and activities.

MBA Honors Rich Bennion with Woodward Distinguished Service Award

WASHINGTON, D.C.--The Mortgage Bankers Association honored Rich Bennion, Executive Vice President of HomeStreet Inc., and HomeStreet Bank, Seattle, with its Andrew D. Woodward Distinguished Service Award.

MBA Education School of Mortgage Banking I in Tampa Nov. 27-30

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

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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