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Volume 18 | Issue 76 | Friday, April 19, 2019

The Lede


Economic Indicators Point to Slower Growth

The U.S. economy continues to chug along, but analysts with the Federal Reserve, the Mortgage Bankers Association and other point to slowing activity in the coming months.


Top National News

Mortgage Rates Continue Their Ascent But Remain Below Last Month's Levels

Washington Post, Apr. 18, 2019--Kathy Orton
According to the latest data, released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.17 percent with an average 0.5 point. It was 4.12 percent a week ago and 4.47 percent a year ago. (MBA mention)

Lenders Manage Tiny Profits in 2018 Despite Rate Hikes, Inventories

Mortgage News Daily, Apr. 18, 2019--Jann Swanson
The Mortgage Bankers Association said banks responding to its survey made an average profit of $367 on each loan they originated last year, down from $711 per loan in 2017.

NAR Slapped with Second Class Action Lawsuit to End Buyer Broker Compensation

HousingWire, Apr. 18, 2019--Jessica Guerin
The suit, filed in the Northern District of Illinois on Monday by Minnesota-based corporation Sawbill Strategic, alleges that NAR, Realogy, HomeServices of America, RE/MAX and Keller Williams violated federal antitrust laws by requiring property sellers to pay the buyer's broker an inflated fee.

NINA Loans Make a Comeback with the 360 Mortgage Pilot Program

National Mortgage News, Apr. 18, 2019--Brad Finkelstein (subscription)
360 Mortgage is bringing back the no-income, no-asset loan, but says its $1 billion pilot's guidelines differ from those of the NINA loans that contributed to the financial crisis.

New York City Rents at Record Highs

National Mortgage Professional, Apr. 18, 2019--Phil Hall
Living in the Big Apple has become a lot more expensive for renters, according to the latest StreetEasy Market Reports.

6 Turbo-Charged Ideas for Boosting Your Purchasing Power

Press-Enterprise (Riverside, Calif.), Apr. 18, 2019--Jeff Lazerson
Water-cooler realtor conversation about bidding wars and sellers receiving well over list prices seemed like a distant memory--until March. Sellers may have the upper hand again.

Trump Proposal Would Evict Undocumented Immigrants from Public Housing

Washington Post, Apr. 18, 2019--Tracy Jan
The Trump administration is proposing to tighten regulations to prevent undocumented immigrants from accessing federally subsidized housing, a move that low-income housing advocates fear will keep immigrants who are legally entitled to such benefits from receiving housing help.

Residential Finance News

Shift to Buyer-Friendly Conditions Chipping Away at Sellers' Years-Long Advantages

Trulia, San Francisco, said the transition from a sellers' market to a buyers' market is giving home buyers some relief, at the expense of home sellers and most noticeably in pricey areas where housing costs are still growing and affordability has eroded the most.

Ellie Mae: Rate Declines Spur Refi Activity

Ellie Mae, Pleasanton, Calif., said the third straight monthly drop in 30-year fixed interest rates led to another increase in refinancing activity in March.

Commercial/Multifamily News

Steady Economic Growth Benefiting CRE

The U.S. economy remains healthy, which should benefit commercial real estate property markets at least for the near future, reported Cushman & Wakefield, New York.

Commercial/Multifamily Briefs

Freddie Mac, McLean, Va., closed a Low-Income Housing Tax Credit fund with nonprofit equity syndicator CAHEC, Raleigh, N.C., and initiated several investments within the fund.

Dealmaker: Meridian Capital Group Arranges $196M for Office, Condo Properties

Meridian Capital Group, New York, arranged $196 million in financing for office and condo properties in New York City.

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 Webinar: Technology & CRE Finance--Where Are We & Where Are We Headed? May 29

Join MBA Education for an informative webinar, Technology & CRE Finance: Where Are We & Where Are We Headed?, on Wednesday, May 29 from 2:00-3:30 p.m. ET.

Call for Speakers: MBA Condominium Lending Workshop

The Mortgage Bankers Association's Condominium Workshop takes place July 18 in Washington, D.C. Speaking opportunities are available; deadline is May 17.

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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