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Volume 18 | Issue 62 | Monday, April 01, 2019

The Lede


MBA Advocacy Update

On Wednesday, MBA President and CEO Bob Broeksmit testified before the Senate Banking Committee as part of the second in a pair of hearings to discuss Chairman Mike Crapo's secondary mortgage market reform outline. On the same day, the Trump administration issued presidential memoranda directing the Treasury Department and HUD to develop prescribed plans for housing finance reform.


Top National News

Which Companies Dominated Multifamily and Commercial Real Estate Financing in 2018?

HousingWire, Mar. 29, 2019--Ben Lane
Newly released data from the Mortgage Bankers Association shows which lenders and originators truly dominated the commercial real estate financing space in 2018.

Income Application Fraud Risk to Rise in Buying Season: First American

National Mortgage News, Mar. 29, 2019--Brad Finkelstein (subscription)
Income-related mortgage application fraud risk holds potential to increase among rising buyer competition during the peak spring season, First American said.

U.S. Consumer Spending Soft, Inflation Benign as Economy Slows

Reuters, Mar. 29, 2019--Lucia Mutikani
U.S. consumer spending barely rose in January and income increased modestly in February, suggesting the economy was fast losing momentum after growth slowed in the fourth quarter.

A Buyer's Market? Hopes Rise With Falling Rates, More Homes for Sale

Wall Street Journal, Mar. 31, 2019--Laura Kusisto (subscription)
The spring home-buying season is shaping up as the best in years, offering new opportunities after last year's tough housing market drove away many would-be buyers.

Ocwen Settles with Masssachusetts over Alleged 'Widespread' Mortgage Servicing Issues

HousingWire, Mar. 29, 2019--Ben Lane
The settlement brings an end to a lawsuit filed by the state against the nonbank back in May 2017. The lawsuit came on the heels of a sweeping round of sanctions placed on Ocwen by more than 30 other states over alleged escrow and other mortgage servicing issues.

Planned Communities in Greater Demand

UExpress, Mar. 29, 2019--Lew Sichelman
"Developers have learned that they can achieve even more sales and higher prices by joining forces with adjacent land owners to create larger master planned communities with scale," said John Burns Real Estate Consulting, based in Irvine, California. The company calls these "mega masterplans."

Here are the Best Workplaces in Financial Services

HousingWire, Mar. 29, 2019--Jessica Guerin
Fortune and Great Place to Work feature companies both large and small that are known for valuing their employees and championing innovation, which is determined in part by the review of thousands of anonymous employee surveys.

Residential Finance News

MBA Chart of the Week: IMB Production Profit and Volumes

Independent mortgage banks and mortgage subsidiaries of chartered banks reported average pre-tax production losses of 11 basis points (a loss of $200 on each loan they originated) in the fourth quarter, down from 20 basis points ($480 per loan) in the third quarter, according to the MBA Quarterly Mortgage Bankers Performance Report released last week.

Hamilton Group Funding's Mark Korell Joins MBA Opens Doors Foundation Board of Directors

The MBA Opens Doors Foundation announced Mark L. Korell, Chairman of Hamilton Group Funding, joined its Board of Directors.

February New Home Sales Up 5%

HUD and the Census Bureau reported sales of new single‚Äźfamily houses in February rose by 4.9 percent to a seasonally adjusted annual rate of 667,000.

The Week Ahead

WASHINGTON--MBA NewsLink comes to you here this week from the Mortgage Bankers Association's annual State & Local Workshop and National Advocacy Conference.

Commercial/Multifamily News

Fitch: Small Banks Increase CRE Lending

Small banks are gaining market share in commercial real estate lending. This could be worrisome given loss histories, especially construction lending losses, said Fitch Ratings, New York.

Dealmaker: Newmark Realty Capital Secures $47M for Multifamily

Newmark Realty Capital, San Francisco, arranged $47.1 million for multifamily properties in Seattle and Las Vegas.

MBA News

MBA Commercial/Multifamily Servicing & Technology Conference in L.A. May 14-17

The Mortgage Bankers Association's annual Commercial/Multifamily Servicing & Technology Conference takes place May 14-17 at the J.W. Marriott L.A. Live in Los Angeles.

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.

Save on FedEx Shipping through MBA Member Advantage Program

Through the MBA Member Advantage Program, you can save up to 29 percent on small package shipping with FedEx.

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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