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Volume 18 | Issue 77 | Monday, April 22, 2019

The Lede


MBA Advocacy Update

Congress continued its two-week recess as members remained in their districts for the Passover/Easter/Spring District Work Period. Consumer Financial Protection Bureau Director Kathy Kraninger gave a speech detailing her approach to the Bureau, while FHA issued guidance clarifying eligibility for downpayment assistance sources.


Top National News

Key Trends Driving Investors Away From Traditional Lenders In 2019

Forbes, Apr. 19, 2019--Evan Gentry
The author, CEO and Founder of M360 Advisors, says there are many reasons why creditworthy borrowers with strong track records and desirable assets turn to nonbank lenders, and collectively they create an attractive fixed-income investment opportunity. (MBA mention)

Fintech Lender Prosper to Pay $3 Million Fine for Lying to Investors

HousingWire, Apr. 19, 2019--Jessica Guerin
According to the SEC, the penalty settles allegations that the San Francisco-based fintech lender was "miscalculating and materially overstating" its net returns to retail investors and other stakeholders.

Home Sales Will be Stymied in 2019 by High Prices and 'Underbuilding'

HousingWire, Apr. 19, 2019--Kathleen Howley
A shortage of entry-level homes will stymie the housing market this year, nullifying much of the impact of lower mortgage rates, according to a forecast by Diane Swonk, Grant Thornton chief economist.

Odd Parcels: Bargains, Wars, Gains, Tenure

UExpress, Apr. 19, 2019--Lew Sichelman
Just because a house is described as a bargain doesn't mean it is one. On the contrary: It may be overpriced.

Inside Destiny USA's Mortgage Emergency: Crisis or Hardball Bargaining? (N.Y.), Apr. 19, 2019--Rick Moriarty
Destiny USA's D-Day arrives June 6. On that day, its $430 million in mortgage loans come due in full, and the owner of the giant Syracuse mall is in danger of default.

Residential Finance News

MBA Chart of the Week: IMB Production Profit

The combination of lower production revenues and higher expenses in 2018 contributed to the lowest net production income per loan since 2008, according to the MBA Annual Mortgage Bankers Performance Report released last week.

March Housing Starts Dip Slightly

Housing starts fell slightly in March following a strong February report, HUD and the Census Bureau reported Friday.

The Week Ahead

Congress remains in recess this week. The House and Senate return on Apr. 29.

Commercial/Multifamily News

Multifamily Sector Showing Stability

"Steady as she goes" could be the multifamily sector's mantra. Analysts report stable apartment vacancy and rent growth rates in the first quarter.

Dealmaker: HFF Arranges $457M for Mixed-Use, Condo Properties

Holliday Fenoglio Fowler, Houston, arranged $457.1 million for mixed-use and condominium assets in Tennessee and New York.

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 Compliance Essentials Loan Originator Compensation Webinar Apr. 30

MBA Education and Compliance Essentials present a webinar, Loan Originator Compensation--Guidance and Q&A, on Tuesday, Apr. 30 from 2:00-3:30 p.m. ET.

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 Offers Certified Mortgage Compliance Professional Designation Level 1

Earn recognition for your mortgage compliance expertise: MBA Education and the MBA Compliance Essentials program offer the only certification and designation program geared exclusively towards compliance professionals in the mortgage finance industry, the Certified Mortgage Compliance Professional (CMCP).

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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