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Volume 18 | Issue 25 | Wednesday, February 06, 2019

The Lede


Mortgage Applications Down; So are Rates in MBA Weekly Survey

Mortgage applications fell for the third consecutive week despite key interest rates falling to 10-month lows, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending February 1.


Top National News

Senate Panel to Consider Nomination of Fannie, Freddie Overseer Next Week

Wall Street Journal, Feb. 5, 2019--Andrew Ackerman (subscription)
Senate lawmakers are expected as early as next week to consider the nomination of Mark Calabria, a critic of Fannie Mae and Freddie Mac, to the post responsible for overseeing the housing-finance companies.

Tech Companies Seen as Banks' Competitors for Mortgages: Fannie Mae

National Mortgage News, Feb. 5, 2019--Brad Finkelstein (subscription)
A significant percentage of consumers are willing to turn to technology companies for their financial needs, including applying for a mortgage, although they have trust issues with them, a Fannie Mae report said.

Fed to Include High Unemployment in 2019 Stress Test Scenario

Wall Street Journal, Feb. 5, 2019--Andrew Ackerman, Lalita Clozel (subscription)
The Federal Reserve on Tuesday said that its stress test for big banks will imagine a rapid increase in unemployment, as it announced the details of the hypothetical scenario that banks must survive to pass the latest round of the exams.

Fed Exempts Most Regional Banks from Stress Testing in 2019

American Banker, Feb. 5, 2019--John Heltman (subscription)
The Federal Reserve on Tuesday agreed to exempt banks with assets of $100 billion to $250 billion from the 2019 supervisory stress testing cycle, an announcement included as almost an afterthought in a suite of other changes unveiled to provide greater transparency to its stress testing regime.

Redfin: West Coast Shifting to a Buyers Market

HousingWire, Feb. 5, 2019--Alcynna Lloyd
Although several housing markets were impacted by January's slow growth in home sales, new data from Redfin indicates the West Coast is especially feeling the slowdown.

CMBS Delinquency Falls to a New Post-Crisis Low

National Mortgage Professional, Feb. 5, 2019--Phil Hall
The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities began 2019 by continuing its 2018 downward spiral, according to data from Trepp LLC.

Historic Mortgage Rates: From 1981 to 2019 and Their Impact

The Street, Feb. 5, 2019--Brian O'Connell
Talk about a toboggan ride. U.S. historical mortgage rates from the early 1970s to 2019 have been on a decidedly downward trend.

U.S. Services Sector Activity at Six-Month Low; Shutdown Blamed

Reuters, Feb. 5, 2019--Lucia Mutikani
U.S. services sector activity slowed to a six-month low in January as businesses worried about the impact of a partial shutdown of the federal government on the economy.

Residential Finance News

CoreLogic: Home Price Growth Slowest Since 2012

CoreLogic, Irvine, Calif., said December home prices increased by just 4.7 percent, the slowest growth rate since August 2012.

STRATMOR Study Notes Lender Shift Toward Improving Customer Experience

STRATMOR Group, Greenwood Village, Colo., released its annual Technology Insights Study, noting strong overall improvements by lenders in improving the customer experience but identifying continued challenges in back-end processes.

Commercial/Multifamily News

CREF Corner Office Conversation with Berkadia's Hilary Provinse

The Mortgage Bankers Association released an interview with Berkadia Executive Vice President and Head of Mortgage Banking Hilary Provinse.

CRE Price Growth Slips

U.S. commercial real estate prices slipped in December to the slowest annual growth rate since 2012, said Real Capital Analytics, New York.

Dealmaker: HFF Secures $128M for Office, Hotel Properties

Holliday Fenoglio Fowler, Houston, secured $128.3 million for office and hotel assets in Missouri, California and Massachusetts.

MBA News

MBA Technology Solutions Conference & Expo Mar. 24-27 in Dallas

The Mortgage Bankers Association's Technology Solutions Conference & Expo 2019 takes place Mar. 24-27 at the Hyatt Regency Dallas.

MBA Education School of Mortgage Servicing Mar. 4-14

MBA Education presents its School of Mortgage Servicing instructor-guided online course Mar. 4-14.

MBA Education Advanced Servicing Workshop in Orlando Feb. 25

MBA Education presents its Advanced Servicing One-Day Workshop on Monday, Feb. 25 at the MBA National Mortgage Servicing Conference & Expo in Orlando, Fla.

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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