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Volume 17 | Issue 214 | Wednesday, October 31, 2018

The Lede


Applications Down in MBA Weekly Survey

Mortgage applications fell last week as key mortgage rates continued to hover at seven-year highs, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending October 26.


Top National News

Mortgage Rates Are Pushing U.S. Homes Out of Reach

Bloomberg, Oct. 30, 2018--Justina Vasquez
This is how housing markets turn. Slowly. Six years of home-price gains outpacing wage growth; bidding wars replaced by sales at the asking price; days or weeks on the market turning into months; rising mortgage rates.

FHA Commissioner Brian Montgomery: More Changes Ahead for Reverse Mortgages

HousingWire, Oct. 30, 2018--Jessica Guerin
Federal Housing Administration Commissioner Brian Montgomery said Tuesday the agency is working to address the volatility within the reverse mortgage program, hinting that the industry can expect more change ahead.

Appeal Denied: Amrock Ordered to Pay $740 Million to HouseCanary for Trade Secret Theft

HousingWire, Oct. 30, 2018--Ben Lane
A Texas judge last week ordered Amrock, the title insurance, settlement services, and valuations provider formerly known as Title Source, to pay just shy of $740 million to HouseCanary after denying Amrock's request to vacate a jury's earlier decision in a trade secret theft battle that rocked the housing industry.

Black Knight's Total Revenue Up 7%, But Earnings Were Flat

National Mortgage News, Oct. 30, 2018--Brad Finkelstein (subscription)
Black Knight's third-quarter net earnings were slightly below the same period last year, although total revenue increased by 7% compared with one year prior. The third quarter of 2017 was the final period that Fidelity National Financial owned a majority stake in the company.

Zombie Foreclosures Fall with Housing Policy Support

National Mortgage News, Oct. 30, 2018--Elina Tarkazikis (subscrption)
Housing policies are helping the number of vacant foreclosure homes drop, which could also mean homebuyers have been taking advantage of these properties as inventory continues to be constrained.

Baby Boomers Are Living at Home. That's Bad News for Senior-Housing Developers

Wall Street Journal, Oct. 30, 2018--Esther Fung (subscription)
It seemed one of the surest bets in real estate: build senior-housing facilities that cater to aging baby boomers who will require more care. The problem is, boomers haven't much cooperated.

Apartment Construction Begins to Slow Down

National Real Estate Investor, Oct. 30, 2018--Bendix Anderson
Apartment building developers may finally take a breather in their rush to build new units.

Mortgage, Real Estate Pros Would Achieve More if They Did This

Mortgage Professional America, Oct. 30, 2018--Steve Randall
Mortgage and real estate sales professionals' business plans often lack clarity, aren't easy to implement, and don't really fit with the lives of the professionals themselves.

U.S. Consumer Confidence at 18-Year High; House Price Gains Slow

Reuters, Oct. 30, 2018--Lucia Mutikani
U.S. consumer confidence rose to an 18-year high in October, driven largely by a robust labor market, bolstering expectations that strong economic growth would continue through early 2019.

Residential Finance News

Home Price Gains Under 6% for First Time in Year; Housing Demand Up

Standard & Poor's, New York, said annual home price gains fell under 6% for the first time in a year in August.

Third Quarter Homeownership Rate Edges Up

The Census Bureau yesterday reported the U.S. homeownership rate rose slightly in the third quarter, to 64.4 percent, from 64.3 percent in the second quarter and from 63.9 percent a year ago.

Commercial/Multifamily News

Institutional Real Estate Allocations Climb Again

Global appetite for commercial real estate remains strong, reported Hodes Weill & Assocs. and Cornell University.

Dealmaker: Transwestern Investment Group Sells Redmond Technology Center for $38M

Transwestern Investment Group, Dallas, sold Redmond Technology Center in Redmond, Wash., on behalf of one of its managed funds.

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.

MBA Education Compliance Essentials State Mortgage Servicing Rules Deep Dive Workshop Feb. 25

MBA Education and the Compliance Essentials program present State Mortgage Servicing Rules Deep Dive Workshop on Feb 25 at the Hyatt Regency Orlando in conjunction with the MBA National Mortgage Servicing Conference & Expo.

Make Your Voice Heard through MBA Mortgage Action Alliance

The Mortgage Action Alliance is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association.

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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