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Volume 18 | Issue 29 | Tuesday, February 12, 2019

The Lede


MBA: 2019 Commercial and Multifamily Mortgage Maturity Volumes to Increase 8 Percent

SAN DIEGO--The Mortgage Bankers Association said $110.5 billion (6 percent) of the $1.9 trillion in outstanding commercial and multifamily mortgages held by non-bank lenders and investors will mature in 2019.


Top National News

Fading Tailwinds Will Limit U.S. Economic Growth in 2019, Says MBA's Chief Economist

RE Busines Online, Feb. 11, 2019--Matt Valley
Despite a strong U.S. job market, GDP growth will slow now that the tailwind from the Tax Cuts and Jobs Act has largely dissipated, predicts Michael Fratantoni, chief economist with the Mortgage Bankers Association.

Q4 Commercial and Multifamily Mortgage Originations Up 14 Percent

National Mortgage Professional, Feb. 11, 2019--Phil Hall
Fourth quarter originations for commercial and multifamily mortgages were up 14 percent on a year-over-year basis, according to new data from the Mortgage Bankers Association.

Multifamily and CRE Mortgage Lending Projected to Match Record High

National Mortgage News, Feb. 11, 2019--Paul Centopani (subscription)
Stable equity and debt availability should keep multifamily and commercial real estate originations in line with 2017's peak, according to the Mortgage Bankers Association.

Banks Claim Victory in New Private Flood Insurance Rule

National Mortgage News, Feb. 11, 2019--Bonnie Sinnock (subscription)
Depository mortgage lenders are optimistic the final version of a regulation designed to open up the flood insurance market will make it easier for them to comply with a rule requiring them to accept private carrier policies.

FIS Sued for $50 Million for Alleged Fraud, Conspiracy

Jacksonville Business Journal, Feb. 11, 2019--Will Robinson
Jacksonville-based Fidelity National Information Systems Inc. has been accused of defrauding Ocwen Loan Servicing LLC and a California regulator as well as orchestrating a conspiracy to conceal its behavior.

It's Regulators' Job to Tailor Rules for Small Banks--Fed's Bowman

American Banker, Feb. 11, 2019--John Heltman (subscription)
Regulators have a duty to make sure policies are suited to the particular profile of community banks, Federal Reserve Board Gov. Michelle Bowman said in her first public speech since being confirmed to the Fed board.

Ditech Return to Bankruptcy to Restructure Its Debt

National Mortgage News, Feb. 11, 2010--Bonnie Sinnock (subscription)
Ditech Holding Corp. is refiling for bankruptcy almost a year after emerging from it in order to facilitate a restructuring agreement with lenders holding more than 75% of its term loans.

America Isn't Building Enough New Housing

Bloomberg, Feb. 11, 2019--Peter Coy
Rather than heading for another bust, we're still feeling the effects of the last one. Aggressive homebuilders were wiped out, and the survivors are cautious about working on spec. Smaller builders that rely on borrowing can't supercharge construction, even if they want to, because their bankers are afraid of making loans.

Silverstein May Start Building Final WTC Tower Without Signed Tenant

Bloomberg, Feb. 11, 2019--Lily Katz
Silverstein Properties Inc., the developer that rebuilt lower Manhattan after the destruction of the twin towers in the Sept. 11, 2001, terrorist attacks, may begin work on its final World Trade Center skyscraper before signing a lease for the building.

Residential Finance News

Millennial Borrowers Close More Purchase Loans as Refi Share Drops

Despite a rise in interest rates and tight inventory, Millennials closed a higher share of purchase loans year-over-year in December, said Ellie Mae, Pleasanton, Calif.

Residential Briefs

Black Knight, Jacksonville, Fla., launched its Rapid Analytics Platform, an interactive virtual analytics lab where users can source and upload data, execute queries, perform complex analytics and train machine-learning models in a single workspace.

Commercial/Multifamily News

Wells Fargo Leads MBA 2018 Year-End Commercial/Multifamily Servicer Rankings

SAN DIEGO--The Mortgage Bankers Association released its year-end ranking of commercial and multifamily mortgage servicers' volumes (as of December 31, 2018), showing Wells Fargo again leading the rankings.

MBA Presents PNC with Commercial/Multifamily Diversity & Inclusion Leadership Award

SAN DIEGO--The Mortgage Bankers Association awarded PNC Bank with the 2019 Commercial/Multifamily Diversity & Inclusion Leadership Award.

Dealmaker: Greystone Bassuk Arranges $200 Million Multifamily Refinance

Greystone Bassuk, New York, closed a $200 million loan made to a Taconic Investment Partners and Mitsui Fudosan America joint venture that refinanced 525 West 52nd Street in Midtown Manhattan.

MBA News

MBA National Mortgage Servicing Conference & Expo in Orlando Feb. 25-28

The Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2019 (Servicing19) returns to Orlando Feb. 25-28.

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 Disaster Recovery Guide Now Available in Spanish

The Mortgage Bankers Association and the National Association of Hispanic Real Estate Professionals have developed a Spanish-language version of Disaster Recovery: A Resource for Homeowners, a consumer-facing informational guide.

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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