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Volume 18 | Issue 70 | Thursday, April 11, 2019

The Lede


Mortgage Bankers' 2018 Commercial/Multifamily Originations Rise to Record $573.9 Billion

Commercial and multifamily mortgage bankers closed a record $573.9 billion in loans in 2018, according to the Mortgage Bankers Association's 2018 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.


Top National News

Mortgage Refinance Boom Goes Bust as Rates Shift Higher

CNBC, Apr. 10, 2019--Diana Olick
Mortgage application volume fell 5.6% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Applications were still 24% higher compared with the same week one year ago, thanks to the recent run-up in refinances.

Is Spring Going to Be a Goldilocks Housing Season for Everybody?

Washington Post, Apr. 10, 2019--Kenneth R. Harney
Have we arrived at one of those rare Goldilocks moments in real estate, where the market works well for sellers and buyers, strongly favoring neither? "Six months ago, I was guardedly optimistic," said Michael Fratantoni, chief economist of the Mortgage Bankers Association. "Now I'm just plain optimistic."

CEOs of 7 Mega Banks Challenged by House Committee

Washington Post, Apr. 10, 2019--Renae Merle
One by one, the leaders of seven of the country's largest banks told skeptical House Democrats on Wednesday that a decade after the global financial crisis, the industry is financially healthier and less risky.

Fed Minutes: Officials See Little Need to Change Rates This Year

Wall Street Journal, Apr. 10, 2019--Nick Timiraos (subscription)
Federal Reserve officials signaled greater conviction at their meeting last month that they wouldn't need to change interest rates this year.

Mortgage Fraud Risk is Growing and Lenders Can't Be Caught Off Guard

National Mortgage News, Apr. 10, 2019--Bridget Berg (free article)
The author, with CoreLogic, says home price gains and fewer loans in the marketplace are putting additional pressure on originators, possibly leading to riskier behaviors to maintain volumes.

Caliber Home Loans Fined for Allegedly Steering...

HousingWire, Apr. 10, 2019--Ben Lane
Caliber Home Loans will pay a $2 million fine and hand out an unknown number of mortgage modifications to borrowers in Massachusetts to settle allegations that the company steered struggling homeowners into risky mortgage modifications.

Economist Dismisses Notion of Upcoming Housing-Fueled Recession

National Mortgage Professional, Apr. 10, 2019--Phil Hall
Ralph G. DeFranco, Global Chief Economist for Arch Capital Services Inc., insisted that ongoing housing trends bear no resemblance to the conditions that took place in the run-up to the 2008 Great Recession. Indeed, DeFranco stressed that today's housing market is not contributing to an economic fraying.

Opportunity Zones Knocking, But Few Answering the Call So Far

Bloomberg, Apr. 10, 2019--Lynnley Browning
Investors eyeing President Donald Trump's Opportunity Zones face a ticking clock if they want to fully capture one of the biggest tax breaks in decades. But few so far seem ready to make the leap.

Residential Finance News

How Consumer Attitudes are Transforming Home Buying Experience

PwC, New York, said consumer attitudes are transforming the home buying experience, providing lenders with an "invaluable opportunity" to build long-term relationships.

ATTOM: Foreclosure Activity at Lowest Levels Since 2008

ATTOM Data Solutions, Irvine, Calif., said U.S. foreclosure activity fell by 15 percent in the first quarter to its lowest level since first quarter 2008.

Commercial/Multifamily News

'More Gray Skies Ahead' for Retail Sector

As the retail sector's shakeout continues, a number of retail real estate markets face more vacancies and falling rents, said Reis Senior Economist Barbara Byrne Denham.

Commercial/Multifamily Briefs

Real estate investor and developer Lightstone, New York, launched a new platform to purchase telecommunications and technology real estate assets with a $300 million initial allocation.

Dealmaker: Berkadia Brokers Two Sales Totaling $89M

Berkadia, New York, brokered two apartment property sales in Washington and Florida totaling $89.2 million.

MBA News

MBA National Secondary Market Conference & Expo May 19-22

The Mortgage Bankers Association's National Secondary Market Conference & Expo returns to the New York Marriott Marquis May 19-22.

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.

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.

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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