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Volume 18 | Issue 74 | Wednesday, April 17, 2019

The Lede


Mortgage Applications Down in MBA Weekly Survey

Mortgage applications fell for the second time week in a row as interest rates crept higher, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending April 12.


Top National News

Senior HUD Official Named FHFA Deputy Director

National Mortgage News, Apr. 16, 2019--Hannah Lang (subscription)
Adolfo Marzol, a senior official at the Department of Housing and Urban Development, has been named the principal deputy director of the Federal Housing Finance Agency.

Mortgages? Big Banks May Be Throwing in the Towel

MarketWatch, Apr. 16, 2019--Andrea Riquier
In the mortgage market of 2019, borrowers can do just about everything online, never meeting the lender behind the process. And as comments from executives of America's biggest banks made clear last week, that person--or institution--making the loan is increasingly less likely to be a banker. (MBA mention)

Bank of America Revenue Misses Forecast, Shares Fall

Reuters, Apr. 16, 2019--Matt Scuffham, Siddharth Cavale
Chief Financial Officer Paul Donofrio told analysts on a conference call that the bank anticipates its net interest income will rise by 3 percent in 2019, compared with 6 percent last year. "We've got some near-term headwinds," he said.

Home Point Financial Acquires Platinum Mortgage's Wholesale Division

HousingWire, Apr. 16, 2019--Ben Lane
Home Point announced Tuesday it acquired the wholesale lending division of Platinum Mortgage, a mortgage company headquartered in Georgia.

The Ability To I.D. The Borrower's Intent Shifts The Origination Process

The Mortgage Leader, Apr. 16, 2019
For mortgage lenders there is a big battle to be one of the first people to reach a potential borrower. That's because statistics show that 88% of consumers go with the first or second lender they talk to. That's no surprise, how often do consumers really want to have a one-hour conversation regarding the same financial topics. Especially millennials. (MBA mention)

What Retail Recovery? Malls Under Pressure as Stores Close

Wall Street Journal, Apr. 16, 2019--Esther Fung (subscription)
Strong retail numbers last year from department stores Macy's Inc. and Nordstrom Inc. raised hopes that the beleaguered mall industry would finally rebound. But recent developments this year are pointing to more trouble ahead.

Residential Finance News

Builder Confidence Edges Higher

The National Association of Home Builders reported builder confidence for newly built single-family homes rose by one point in April.

Reports Show Inventories Giving Some Buyers a Chance

A promising spring home buying season is underway, and for some home buyers, particularly those on the West Coast, increasing inventories are helping them get the homes they want.

Commercial/Multifamily News

Low Supply Driving Rapid Single-Family Rental Increases

Rent prices in single-family rental properties grew faster in February than in January, reported CoreLogic, Irvine, Calif.

Commercial/Multifamily Briefs

HUD is seeking public input on how it can maximize the effect of Opportunity Zones.

Dealmaker: CIT Arranges $52M for Medical Properties

CIT Group, New York, arranged $51.6 million for California and Texas medical real estate assets.

MBA News

MBA Legal Issues & Regulatory Compliance Conference in New Orleans May 5-8

The Mortgage Bankers Association's Legal Issues & Regulatory Compliance Conference takes place May 5-8 at the Hyatt Regency New Orleans.

MBA School of Loan Origination I Begins Apr. 22

MBA Education presents its popular School of Loan Origination instructor-guided online course from Apr. 22-May 16.

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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