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Volume 18 | Issue 35 | Thursday, February 21, 2019

The Lede


Fintechs Drive Personal Loans to Record Levels

TransUnion, Chicago, said personal loan balances increased by $21 billion in the past year to close 2018 at a record high $138 billion, with much of this growth driven by online loans originated by fintechs.


Top National News

Weekly Mortgage Applications Rise 3.6%, a Sign of Hope for the Spring Homebuying Season

CNBC, Feb. 20, 2019--Diana Olick
Mortgage application volume increased 3.6 percent last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

MISMO Unveils Remote Online Notarization Standards

The Mortgage Leader, Feb. 20, 2019
MISMO has released remote online notarizations standards for a 60-day public comment period-in a bid to ensure lenders avoid the inefficiency of dozens of state-level protocols.

Why Kraninger's CFPB is Mandating Fewer Consumer Refunds

American Banker, Feb. 20, 2019--Kate Berry (subscription)
The Consumer Financial Protection Bureau appears to have shifted away from requiring financial institutions to refund customers in response to enforcement actions.

Fed Prepares to End Balance Sheet Runoff Later This Year

Wall Street Journal, Feb. 20, 2019--Nick Timiraos (subscription)
Federal Reserve officials agreed at their meeting last month to announce soon a plan to stop shrinking their $4 trillion portfolio of bonds and other assets later this year, according to minutes of the meeting released Wednesday.

7 Charts Showing Where Mortgage Lending is Headed in 2019

National Mortgage News, Feb. 20, 2019--Elina Tarkazikis (subscription)
A number of mortgage market trends are setting the pace for what to expect from originations this year.

Here's Why the Housing Market Should Expect a Cash-Out Refi Boom

HousingWire, Feb. 20, 2019--Jessica Guerin
Home equity levels are climbing while mortgage interest rates are falling, and this has some experts predicting an inevitable boom in cash-out refinances.

Chase Guarantees It Will Close a Mortgage in 21 Days or It'll Give You $1,000

HousingWire, Feb. 20, 2019--Ben Lane
Chase Home Lending now claims it can close on a borrower's mortgage in as little as three weeks and it's putting its money where its mouth is to back up that claim.

Are Lenders Shying Away from the Retail Sector?

National Real Estate Investor, Feb. 20, 2019--Liz Wolf
Retail properties can still get financing, capital markets experts say, but their sponsorship, location and metrics are under very close scrutiny.

Wall Street, Seeking Big Tax Breaks, Sets Sights on Distressed Main Streets

New York Times, Feb. 20, 2019--Matthew Goldstein, Jim Tankersley
The flood of capital is raising hopes as well as concerns. Supporters believe the money can help distressed towns and neighborhoods that are still feeling the effects of the financial crisis and have barely benefited from the nine-year economic expansion. Skeptics worry that the funds will mostly target real estate and other projects that probably would have attracted investment even without the tax break, and may not deliver the returns being dangled.

Residential Finance News

Redfin: West Coast Seeing Red

Redfin, Seattle, said while the January home price appreciation rate doubled from December, nearly a dozen West coast metros saw home price decreases, putting home buyers in those areas in a stronger position heading into the spring season.

For Homeowners, When to List Can Bring Bigger Payoff

Is there a "sweet spot" for home sellers this spring? According to Zillow, the answer is "early May."

Commercial/Multifamily News

Small-Cap Fundamentals Finish 2018 on Solid Footing

Small-cap commercial real estate fundamentals finished the fourth quarter on solid footing, but some "cracks in the foundation" persist, raising concern about the market's future expansion, said Boxwood Means, Stamford, Conn.

Commercial/Multifamily Briefs

HUD said it will "dramatically" reduce the advance notice it gives to private owners of subsidized apartment properties before their housing is inspected.

Dealmaker: Host Hotels & Resorts Pays $610M for South Beach Hotel

Host Hotels & Resorts, Bethesda, Md., acquired the 429-room 1 Hotel South Beach in Miami Beach, Fla. on Feb. 14 for $610 million, or $1.42 million per key.

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.

MBA Education Compliance Essentials State Mortgage Servicing Rules Deep Dive Workshop Feb. 25

MBA Education and the Compliance Essentials program present State Mortgage Servicing Rules Deep Dive Workshop on Feb 25 at the Hyatt Regency Orlando in conjunction with the MBA National Mortgage Servicing Conference & Expo.

MISMO Seeks Input on New Standardized Loan Application Dataset

MISMO®, the mortgage industry standards organization, seeks industry participants to collaborate on developing a standardized loan dataset that will correspond with the new Uniform Residential Loan Application.

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.

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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