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Volume 18 | Issue 37 | Monday, February 25, 2019

The Lede


MBA Releases New Policy Paper on Independent Mortgage Banks

Independent mortgage banks have existed in the U.S. since the 1870s. In a new policy paper, the Mortgage Bankers Association examines the important role IMBs play in today's real estate finance market.


Top National News

Mortgage Sector Boosted Thanks to Low Volatility and Dovish Fed

Bloomberg, Feb. 22, 2019--Christopher Maloney
The mortgage sector has outperformed U.S. Treasuries by 39 basis points year-to-date, helped in part by a confluence of low volatility and a dovish Federal Reserve.

Will Mortgage Prepayments Spring Back?

The M Report, Feb. 25, 2019
The decline in mortgage rates in recent months hasn't affected the mortgage prepayment rate, which was the lowest in more than 18 years, reported Black Knight.

Federal Reserve Report Highlights ‘Resilient' Financial System

Wall Street Journal, Feb. 22, 2019--Paul Kiernan (subscription)
The Federal Reserve said in a report to Congress Friday the U.S. financial system remains "substantially" safer than before the 2007-09 recession but noted a significant expansion in business debt and weaker lending standards.

Bank Regulators Reject Request for Hearing on Appraisal Changes

National Mortgage News, Feb. 22, 2019--Hannah Lang (subscription)
The federal banking agencies denied several appraisal organizations' request for a public hearing on a proposal to reduce the number of residential real estate transactions that require an appraisal.

Millennials Have Officially Entered the Housing Market

HousingWire, Feb. 22, 2019--Alcynna Lloyd
Millennials surpassed Generation X as the group that was responsible for the most new mortgages. Since then, Millennials' share of the mortgage market has continued to rise. By the end of 2018, Millennials represented 45% of all new mortgages, compared to 36% for Generation X and 17% for Baby Boomers.

New Loan App Is Coming

UExpress, Feb. 22, 2019--Lew Sichelman
Big changes are coming in the standard application for home financing. But if lenders are not on the ball, the modifications could throw a monkey wrench into the mortgage sector. At least for a while.

The Nation's Housing: Who Provides the More Accurate Home Valuation: Zillow or Redfin?

Richmond (Va.) Times-Dispatch, Feb. 22, 2019--Kenneth Harney
When you type in a home's street address to obtain an online valuation from the two biggest players in the field--Zillow's Zestimate or Redfin's Estimate tools--how good is what you get?

Residential Finance News

MBA Advocacy Update

On Wednesday, the Federal Open Market Committee released minutes from its two-day January meeting, explaining why it decided to be patient with monetary policy. It also offered more clarity on its plans for balance sheet normalization.

MBA Chart of the Week: Mortgage Delinquency Rate and Unemployment Rate

Last week, MBA Research released fourth quarter results of its National Delinquency Survey. In this week's chart, we show the relationship between the unemployment rate, supplied by the Bureau of Labor Statistics, and the mortgage delinquency rate for all loans over a 30-year period.

Residential Briefs

Black Knight Inc., Jacksonville, Fla., a provider of integrated software, data and analytics to the mortgage and real estate industries, entered a partnership with LERETA LLC, Covina, Calif., a provider of real estate tax and flood services for mortgage servicers, to enhance tax reporting services to Black Knight's MSP servicing system customers.

The Week Ahead

ORLANDO--MBA NewsLink comes to you this week from the Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2019.

Commercial/Multifamily News

CMBS Supply/Demand Fundamentals Stable; Defeasance Surges

Commercial property market supply and demand fundamentals remained relatively stable in third-quarter 2018, said Moody's Investors Service, New York.

Dealmaker: Walker & Dunlop Arranges $85M for Hotel, Multifamily Assets

Walker & Dunlop, Bethesda, Md., structured $85.3 million in financing for a Tucson, Ariz. hotel property and a Leesburg, Va. multifamily community.

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 School of Mortgage Banking II in D.C. Mar. 5-8

MBA Education presents its popular School of Mortgage Banking Course II Mar. 5-8 at MBA headquarters in Washington, D.C.

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

MBA NewsLink, a daily electronic publication, is a member benefit free to employees of MBA member companies, and available by paid subscription to non-members. For membership information, click here.

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One Voice. One Vision. One Resource. The Mortgage Bankers Association  (MBA) is the national association representing the entire real estate finance industry. For more information visit us at