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Volume 18 | Issue 67 | Monday, April 08, 2019

The Lede


MBA Advocacy Update

MBA's National Advocacy Conference took place in Washington last week, giving attendees a chance to petition their elected officials and hear from a large cast of speakers, including a bipartisan mix of key congressional leaders on financial services and housing issues.


Top National News

Biggest Mortgage Drop in Decades Sparks a Boom in Home Sales

NBC News, Apr. 5, 2019--Christine Dahlgren
After a massive dip in mortgage interest rates last week, mortgage applications jumped nearly 19 percent and applications to refinance existing mortgages surged 39 percent. (MBA mention)

Trump Calls on Fed to Cut Interest Rates, Resume Bond-Buying to Stimulate Growth

Wall Street Journal, Apr. 5, 2019--David Harrison (subscription)
President Trump on Friday repeated his call for the Federal Reserve to cut interest rates and said it should restart buying assets to stimulate growth.

Everyone Has an Opinion on Fannie's Future, One Firm Offers a Rating

National Mortgage News, Apr. 5, 2019--Brad Finkelstein (subscription)
At least one investment bank thinks the prospects of privatization have improved enough that the equity in Fannie Mae has become sufficiently interesting to merit the attention of its analysts.

Is Wells Fargo Stuck in the Denial Stage of Recovery?

American Banker, Apr. 7, 2019--Kate Berry (subscription)
Since Wells Fargo's phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it's a different story.

HomeStreet Selling Off Majority of Mortgage Business...

HousingWire, Apr. 5, 2019--Ben Lane
HomeStreet Bank's move away from mortgages is nearly complete. The bank has found buyers for its mortgage business: Homebridge Financial Services, New Residential Mortgage and PennyMac.

Tool Compares Instant Offers

UExpress, Apr. 5, 2019--Lew Sichelman
Sellers who receive offers to buy their homes from a third party who will fix the place up a bit and resell it are always left with a nagging question: Could I have gotten more? Now there's a new tool to help sellers answer those questions.

Residential Finance News

mPower Moments: Byron Boston and Brian Stoffers, CMB, on Closing Gender Gap

In the latest episode of mPower Moments, mPower Founder Marcia M. Davies sits down with MBA Chairman-Elect Brian Stoffers, CMB; and Byron Boston, President, CEO and Chief Investment Officer of Dynex Capital, on on the importance of closing the gender gap in the real estate finance industry and providing a clear path for women to advance in their careers.

March Job Report Rebounds

Total nonfarm payroll employment increased by 196,000 in March, while the unemployment rate was unchanged at 3.8 percent, Bureau of Labor Statistics reported Friday.

The Week Ahead

MBA releases its monthly Builder Applications Survey this Tuesday, Apr. 9; its Weekly Applications Survey this Wednesday, Apr. 10; and its 2018 Commercial/Multifamily Annual Summation on Thursday, Apr. 11.

Commercial/Multifamily News

MBA Chart of the Week: Top 10 Commercial/Multifamily Originators in 2018

MBA recently released its annual 2018 Rankings of Commercial/Multifamily Mortgage Firms' Origination Volumes. Last year was another strong year for lending and borrowing.

Tech Sector Dominates Office Leasing

The technology sector cemented its position as a major office market driver in 2018, said Cushman & Wakefield, New York.

Dealmaker: Arbor Funds $77M in Fannie Mae Multifamily Loans

Arbor Realty Trust, Uniondale, N.Y., funded two Fannie Mae multifamily loans totaling $76.5 million.

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 III in D.C. June 11-14

MBA Education presents its School of Mortgage Banking Course III June 11-14 at MBA headquarters in Washington, D.C.

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.

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

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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