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Volume 18 | Issue 83 | Tuesday, April 30, 2019

The Lede


'Below-Average' Home Remodeling Growth Expected by 2020

Home remodeling has been on an extended kick the past few years, with more homeowners opting to stay in their homes longer amid rising home prices and housing inventory shortages. Now, several forecasts see a slowdown in remodeling activity--which, for the mortgage industry, might not be such a bad thing.


Top National News

Labor Dept. Says Workers at a Gig Company Are Contractors

New York Times, Apr. 29, 2019--Noam Scheiber
The Labor Department weighed in Monday on a question whose answer could be worth billions of dollars to gig-economy companies, deciding that one company's workers were contractors, not employees.

Critics Fear Shift at CFPB Will Let Firms Off the Hook

American Banker, Apr. 29, 2019--Kate Berry (subscription)
By refocusing the Consumer Financial Protection Bureau on supervision instead of enforcement, Director Kathy Kraninger says she wants to prevent consumer harm. But skeptics say the new approach could have the opposite effect.

CFPB Announces Debt Collection Town Hall as it Preps New Proposal

National Mortgage News, APr. 29, 2019--Kate Berry (subscription)
The Consumer Financial Protection Bureau is poised to unveil a regulatory proposal by as early as next week on how it plans to reform oversight of debt collectors.

Commercial Mortgages Put into Special Servicing Increased in 2018

National Mortgage News, Apr. 29, 2019--Brad Finkelstein (subscription)
Commercial mortgages placed into special servicing grew last year, but default and foreclosure dollar volume fell as legacy loan resolutions outpaced newly distressed loans, according to Fitch Ratings.

Mortgage Fraud Risk Rises for Ninth Consecutive Quarter

24/7 Wall Street, Apr. 29, 2019--Paul Ausick
The national mortgage application fraud risk index rose from 151 to 152 quarter over quarter in the first quarter, according to researchers at CoreLogic.

Marriott to Take On Airbnb in Booming Home-Rental Market

Wall Street Journal, Apr. 29, 2019--Craig Karmin (subscription)
Marriott International Inc. is starting a new home-rental business, aiming to take on Airbnb Inc. and other home-sharing companies in one of the lodging industry's hottest segments.

eNote Volumes on the Rise as Mortgage Industry Scales Tech

Mortgage Media, Apr. 29, 2019
The mortgage industry can be slow to adapt to technological innovations, certainly not with consistency or scale--but when it happens, it yields rewards, notes Simon Moir, chief product officer for eOriginal.

Residential Finance News

More Millennial Homebuyers Saving for a Down Payment 'Old-Fashioned Way'

Seventy-two percent of Millennial homebuyers this year are saving for a down payment directly from their paychecks, up from 69 percent last year, according to a March survey of 2,000 U.S. homebuyers and sellers commissioned by Redfin, Seattle.

Deloitte Survey: Companies Saving to Transform as Digital Disruption Gains Momentum Globally

Deloitte, New York, said as digital technologies continue to reinvent how businesses grow and operate, associated risks and opportunities are prompting companies to expand their cost management strategies.

Commercial/Multifamily News

Institutional-Quality CRE Returns Grow; Cap Rates Reach Historic Lows

Institutional-quality commercial real estate returned 1.8 percent in the first quarter, up significantly from 1.38 percent in late 2018, the National Council of Real Estate Investment Fiduciaries reported.

Dealmaker: JLL Arranges $114M for Denver-Area Mixed-Use, Office Assets

JLL's Denver finance team arranged $114.1 million for Denver-area mixed-use and office projects.

MBA News

MBA Document Custody Workshop June 20

The Mortgage Bankers Association's popular Document Custody Workshop takes place Thursday, June 20 at the Ritz-Carlton Tysons Corner in McLean, Va.

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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