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Volume 18 | Issue 66 | Friday, April 05, 2019

The Lede

 

Buyers Taking Charge of Housing Market

With the spring real estate market in full swing, buyers appear have more leverage and purchase power, according to several reports released this week.

 

Top National News

 
Senate Confirms Mark Calabria as Head of Fannine, Freddie Regulator

MarketWatch, Apr. 4, 2019--Andrea Riquier
Calabria, who most recently served as chief economist to Vice President Mike Pence and, before that, at the libertarian think tank the Cato Institute, was confirmed by a 52-44 vote. (MBA mention)

Could Falling Interest Rates Mean a Pick-Up in Hiring by Mortgage Lenders?

Marketplace, Apr. 3, 2019--Meghan McCarty Carino
MBA Economist Joel Kan discusses how refinancing is making a comeback in the housing market, with dropping interest rates resulting in a spike in applications to refinance mortgage loans.

Podcast--How Lenders View The Current Market With Jamie Woodwell

Real Crowd, Apr. 4, 2019--Tyler Stewart
Jamie Woodwell, Vice President of Research and Economics with the Mortgage Bankers Association, discuss recent research on how lenders view the current market.

Fixed Mortgage Rates Flat Ahead of Jobs Report

Washington Post, Apr. 4, 2019--Kathy Orton
Following the biggest one-week drop in a decade, fixed mortgage rates paused to catch their breath and were essentially flat this week. (MBA mention)

Recent Decline in Mortgage Rates Leads to a Leap in Jumbo Refinances

HousingWire, Apr. 4, 2019--Jacob Gaffney
The Mortgage Bankers Association is noting two distinctive trends in mortgage lending in it latest credit availability report. The first is the recent declines in mortgage rates, which only just showed signs of leveling out, led to a leap in refinances for jumbo mortgages.

Downsizing Fannie, Freddie Could Help Banks, Hurt Nonbanks

National Mortgage News, Apr. 4, 2019--Bonnie Sinnock (subscription)
If housing finance reform reduces the government-sponsored enterprises' involvement in the mortgage market, banks could gain a funding advantage over nonbanks, according to a Moody's Investors Service report.

Trump Picks Herman Cain for Fed as New Powell Counterweight, Sources Say

Bloomberg, Apr. 4, 2019--Jennifer Jacobs
President Donald Trump intends to nominate Herman Cain, the former pizza company executive who ran for the 2012 Republican presidential nomination, for a seat on the Federal Reserve Board.

Fannie's Decision to Use Real Estate Agents as Appraisers is Risky

Orange County Register, Apr. 4, 2019--Jeff Lazerson
Fannie Mae is now relying on real estate agents (not licensed appraisers) to measure and take photographs to determine property values for some mortgage refinances. The ramifications are ominous.

AI Is Coming To Take Your Mortgage Woes Away

Forbes, Apr 4, 2019--Douglas Merrill
The survey found that over the next two years, the use of these technologies in the mortgage industry is going to boom. And that will be a good thing for borrowers and the market.

JPMorgan's Dimon Urges Infrastructure, Mortgage Reform to Spur U.S. Growth

Reuters, Apr. 4, 2019--Elizabeth Dilts
JPMorgan Chase & Co chief executive Jamie Dimon on Thursday called for reforms to U.S. public policy on education, infrastructure and mortgages to repair what he called the "fraying" American dream.

Ditech Shuttering Minnesota Office, Laying Off More than 200 Employees

HousingWire, Apr. 4, 2019--Ben Lane
Ditech Holding Corp., which is currently going through Chapter 11 bankruptcy for the second time in just over a year, is closing its St. Paul, Minn., office and laying off more than 200 employees.

Residential Finance News

 
CoreLogic: Home Price Increases Slow to 4%

CoreLogic, Irvine, Calif., said while home prices continued to rise year over year and month over month, the pace of appreciation slowed to just 4 percent annually.

Residential Briefs

The Texas Mortgage Bankers Association, Austin, Texas, will hold its 103rd annual convention April 28-30 in San Antonio at the Marriott Rivercenter hotel.

Commercial/Multifamily News

 
Apartment Rents Grow Despite 'Aggressive' Deliveries

U.S. apartment rents climbed 3.2 percent on an annual basis in the first quarter despite "aggressive" new deliveries, reported RealPage, Richardson, Texas.

Dealmaker: JLL Income Property Trust Acquires Industrial Portfolio for $47M

JLL Income Property Trust, Chicago, acquired Fremont Distribution Center, a fully leased two-building industrial portfolio in the Oakland/East Bay area submarket Fremont, Calif., for $47 million.

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 Advanced Risk Management for Pros June 3-5 in D.C.

MBA Education presents its popular Advanced Risk Management for Mortgage Pros Workshop, in conjunction with the Robert H. Smith School of Business at the University of Maryland, in Washington, D.C. June 3-5.

MBA Education UMBS and Your Business: Best Practices for Readiness Webinar Apr. 10

MBA Education presents a webinar, UMBS and Your Business: Best Practices for Readiness Webinar, on Wednesday, Apr. 10 from 2:00-3:30 p.m. ET.

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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