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Volume 18 | Issue 64 | Wednesday, April 03, 2019

The Lede


MBA Welcomes Members to Washington for Advocacy Conference

WASHINGTON--Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, welcomed more than 400 MBA members here to the MBA National Advocacy Conference with a call to action.


Top National News

Weekly Mortgage Refinances Spike 39% After Huge Rate Drop

CNBC, Apr. 3, 2019--Diana Olick
Weekly mortgage application volume surged 18.6 percent from the previous week, the Mortgage Bankers Association reported. Refinance applications jumped 39 percent for the week to the highest level since 2016. Volume was 58 percent higher than a year ago, when interest rates were higher.

HUD's Carson Touts Affordable Housing Strategies in MBA Speech

National Mortgage Professional, Apr. 3, 2019--Phil Hall
Speaking before the Mortgage Bankers Association's National Advocacy Conference in Washington, HUD Secretary Ben Carson highlighted an ongoing economy with "historic highs in employment, job creation and economic growth."

Real Estate Website Zillow Expands Into the Mortgage Business

CNBC, Apr. 2, 2019--Emma Newburger
Real estate website Zillow on Tuesday announced a new "Home Loans" division that will allow users shopping for mortgages to receive financing directly from the company.

Bank of America Says It Will Make $5 Billion in Mortgages to Low- and Moderate Income Borrowers

CNBC, Apr. 2, 2019--Hugh Son
Bank of America said it will help low- and moderate-income people become homeowners by extending $5 billion in mortgages. The five-year "Neighborhood Solutions" program also includes grants for down payments and closing costs and mortgage packages with small down payments.

How the Golden State is Setting the Tone

Mortgage Media, Apr. 2, 2019
California MBA CEO Susan Milazzo talks about the association's efforts and legislation to watch for in her state that could have an impact beyond.

Trump to Fed Chairman Powell: 'I Guess I'm Stuck With You'

Wall Street Journal, Apr. 2, 2019--Nick Timiraos, Alex Leary (subscription)
President Trump is blaming the Federal Reserve for holding back the economy and stock market despite the central bank's recent decision to do two things he wanted-halt rate increases and stop shrinking its asset portfolio.

OCC Taps New Head of Large Bank Supervision

HousingWire, Apr. 2, 2019--Jessica Guerin
The Office of the Comptroller of the Currency said Maryann Kennedy will oversee the nearly 800 staff members who supervise the nation's largest banks and federal branches and agencies, which hold more than $10 trillion in total consolidated assets.

Residential Finance News

Mortgage Applications Surge Again in MBA Weekly Survey

Falling interest rates led to another surge in mortgage applications last week, the Mortgage Bankers Association reported this morning in its Weekly Applications Survey for the week ending Mar. 29.

Carson Touts Administration Policies at MBA Advocacy Conference

WASHINGTON--HUD Secretary Ben Carson said a strong economy and Administration policies are creating more opportunities for housing and homeownership.

Finding Common Ground on Capitol Hill

WASHINGTON--With the Nation's Capital at its most polarized in years, it might be surprising to hear about the House Problem Solvers Caucus.

Commercial/Multifamily News

Property Price Growth Picks Up After Slow January

Growth in U.S. commercial property prices increased to 0.6 percent in February from 0.3 percent in January, reported Real Capital Analytics, New York.

Dealmaker: Pembrook Provides $33M Fractured Condo Financing Package

Pembrook Capital Management LLC, New York, closed a $33 million financing package for 189 units at Cobblestone on the Lakes, a fractured condominium complex in Ft. Myers, Fla.

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 Education School of Mortgage Banking I Apr. 9-12 in San Antonio

MBA Education presents its popular School of Mortgage Banking Course I April 9-12 in San Antonio.

MBA Compliance Essentials UDAAP & FTC MAP Rule Resource Guide Available

The MBA Compliance Essentials program offers a new Resource Guide: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) & FTC Mortgage Acts and Practices Advertising (MAP) Rule.

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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