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Volume 18 | Issue 71 | Friday, April 12, 2019

The Lede

 

As eNote Use Increases, FHLBs Take Step Toward Acceptance

The Federal Home Loan Banks this week took a big step toward acceptance of eNotes as collateral, with a commitment to develop eNote requirements by the end of this year.

 

Top National News

 
Mortgage Rates Drift Higher for Second Week in a Row

Washington Post, Apr. 11, 2019--Kathy Orton
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average increased to 4.12 percent with an average 0.5 point. It was 4.08 percent a week ago and 4.42 percent a year ago. (MBA mention)

2018 Set Record for Commercial/Multifamily Lending

Mortgage News Daily, Apr. 11, 2019--Jann Swanson
Commercial and multifamily mortgage bankers closed $573.9 billion in loans during the year according to results from a Mortgage Bankers Association survey. The total represents an 8 percent increase from the volume in 2017.

White House Seeks Tighter Oversight of Regulations Issued by Fed and Other Independent Agencies

Washington Post, Apr. 11, 2019--Damian Paletta
The White House on Thursday for the first time said it was requiring the Federal Reserve and other independent agencies to submit new guidelines for review, a controversial step that has long been a goal of conservative groups.

Powell Maintains His Distance from Trump in Speech to House Democrats

Washington Post, Apr. 11, 2019--Mike DeBonis, Rachel Bade
Federal Reserve Chair Jerome H. Powell gently asserted his independence from President Trump in a private meeting with House Democrats on Thursday night, declaring that political identification and pressures have little bearing on his decisions as head of the nation's fiscal overseer, according to multiple people in the room.

San Francisco's Housing Market Braces for an IPO Millionaire Wave

Wall Street Journal, Apr. 11, 2019--Katherine Clarke (subscription)
A rush of anticipated public offerings from tech unicorns such as Uber and Airbnb could have a major impact on one of the country's priciest cities.

Report: Gen Z Eager to Become Homeowners

National Mortgage Professional, Apr. 11, 2019--Phil Hall
The next big wave of potential homeowners, the Gen Z demographic between the ages of 18 and 23, are eager to purchase residential property, according to a Bank of America report.

Energy Loans Plunge in Calif. After Income-Qualifying Laws Took Effect

Orange County Register, Apr. 11, 2019--Jeff Lazerson
PACE loans, which are added to property tax bills, fell nearly 60% after California began requiring lenders to verify homeowners can repay the debt. (MBA mention)

PIMCO Hits Secondary Market with First Non-QM Mortgage Bond Offering

HousingWire, Apr. 11, 2019--Ben Lane
PIMCO, once a major player in the secondary mortgage market, is making a new mortgage play, as the bond giant is about to enter the secondary market for loans that don't fit into the Qualified Mortgage box.

Residential Finance News

 
Quicken: Homeowner, Appraisal Perceptions No Longer on Same Page

Quicken Loans, Detroit, reported a widening gap between homeowners' perception of their homes value and that of appraisers in March.

With Flipping Near Historic Highs, Flippers Play Different Game

CoreLogic, Irvine, Calif., said home flipping has increased on a year-over-year basis for 12 consecutive quarters to the fourth-highest level since 2002.

Commercial/Multifamily News

 
2018 CRE Transaction Volume Near Record

Commercial real estate transaction deal volume totaled $537 billion in 2018, the second-largest year on record for CRE sales in the U.S., reported Ten-X, Irvine, Calif.

Dealmaker: New York Life REI Originates $1B for Industrial, Multifamily

New York Life Real Estate Investors, New York, originated $1.08 billion for industrial and apartment properties in several states.

MBA News

 
MISMO Spring Summit June 3-7 in Milwaukee; Registration Now Open

Registration is now open for the MISMO Spring Summit, taking place June 3-7 at the Pfister Hotel in Milwaukee.

MBA Education School of Mortgage Banking I in Chicago May 14-17

MBA Education presents its popular School of Mortgage Banking Course I May 14-17 in Chicago.

MBA Compliance Essentials UDAAP & FTC MAP Rule Resource Guide Available

The MBA Compliance Essentials program offers a new Resource Guide: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) & FTC Mortgage Acts and Practices Advertising (MAP) Rule.

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.