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Volume 18 | Issue 5 | Tuesday, January 08, 2019

The Lede


MBA 2019 CREF Outlook Survey: Majority of Firms Expect Originations to Increase

Commercial and multifamily mortgage originators expect 2019 to be another strong year in lending activity, according to the Mortgage Bankers Association's 2019 Commercial Real Estate Finance Outlook Survey.


Top National News

America's Small Lenders

The Economist, Jan. 5, 2019--Bob Broeksmit, CMB (subscription)
In this letter to the editor, MBA President and CEO takes issue with story suggesting non-bank lenders pose harm to the housing finance system and defends the role of independent mortgage banks.

Experts Weigh In on What the 2019 Housing Market Will Bring

Washington Post, Jan. 7, 2019--Kathy Orton
The Mortgage Bankers Association expects moderate growth in home purchase mortgage originations, with refinance volume continuing to decline. It anticipates the 30-year fixed-rate mortgage will level out at 5.1 percent.

Supreme Court Debates the Meaning of the Term 'Debt Collector'...

CNBC, Jan. 7, 2019--Tucker Higgins
In a brief, an array of business groups including the Chamber of Commerce and the Mortgage Bankers Association wrote that applying Fair Debt Collections Practices Act protections to the foreclosure process would add "an additional, unwarranted layer of complexity in the foreclosure process, thereby harming both lenders and borrowers."

House Diversity Panel a Double-Edged Sword for Banks

American Banker, Jan. 7, 2019--Neil Haggerty (subscription)
A new House subcommittee planned by Democrats to focus on diversity in banking and financial inclusion is getting high marks not just from public interest groups but also industry groups that say it could foster regulatory reforms needed to reach more customers.

Watt Out: Occ's Otting Officially Takes Over as Director

HousingWire, Jan. 7, 2019--Ben Lane
Going forward, the Federal Housing Finance Agency will be led by Comptroller of the Currency Joseph Otting, who was picked by President Donald Trump to serve as acting director of the FHFA while Mark Calabria is awaiting Senate confirmation to replace Watt on a permanent basis.

Federal Shutdown Creating Mortgage Victims

Chicago Tribune, Jan. 7, 2019--Kenneth Harney
When the government shuts its doors because of a funding brouhaha that pits the White House against Capitol Hill, who gets hit hardest among people needing a home mortgage? The latest version of federal breakdown made one fact painfully clear: It all depends on the type of loan you seek and where you're located.

Falling Mortgage Rates Raise Hopes for Battered Housing Market

Wall Street Journal, Jan. 7, 2019--Ben Eisen, Laura Kusisto (subscription)
Mortgage rates have fallen to around their lowest levels in eight months, offering a potential boost to the housing market after a rough patch in recent months.

Lennar, Mortgage Company Loaned to Unqualified Borrowers and Deceived Feds, Lawsuit Alleges

Tampa Bay Times, Jan. 7, 2010--Susan Taylor Martin
In a lawsuit filed in Pinellas County Circuit Court, Wanda Burling says she repeatedly complained to a vice president at Eagle Home Mortgage about the company's lending practices only to be warned to "let it go'' if she wanted to keep her job.

Nellie Liang Withdraws From Consideration for Fed Board Seat

Wall Street Journal, Dec. 7, 2019--Nick Timiraos, Andrew Ackerman (subscription)
Former Federal Reserve economist Nellie Liang, whom the Trump administration had nominated to serve on the central bank's board of governors, withdrew from consideration Monday, a casualty of opposition from the banking industry which feared she would stymie efforts to loosen financial regulation.

Residential Finance News

MBA Names Bill Packer Chair of RESTECH

The Mortgage Bankers Association announced Bill Packer, Executive Vice President and Chief Operating Officer at American Financial Resources Inc., Parsippany, N.J., as new chairman of its Residential Technology Forum (RESTECH).

Housing Confidence Down; More Americans Say 'Bad Time' to Buy Home

Fannie Mae, Washington, D.C., said its Home Purchase Sentiment Index decreased by nearly three points in December, as more Americans felt less comfortable about buying a home.

Commercial/Multifamily News

CMBS Delinquency Rate Falls Again; 2018 Issuance Slips

Commercial mortgage-backed securities finished 2018 on a positive note as December's delinquency rate dropped to another post-crisis low, but lower delinquencies could conceal a darker picture in the broader market, analysts said.

Dealmaker: Avison Young Brokers $49M in Florida Sales

Avison Young, Toronto, brokered two Florida sales totaling $49.4 million.

MBA News

MBA Premier Member Profile: DocMagic

Founded in 1987 and headquartered in Torrance, Calif., DocMagic provides Document Generation, Compliance, eSign, eDelivery and comprehensive Digital Transaction Solutions for the mortgage industry.

MBA Independent Mortgage Bankers Conference Jan. 28-31

The Mortgage Bankers Association's Independent Mortgage Bankers Conference takes place Jan. 28-31 at the Hyatt Regency San Francisco.

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.

MBA Education Generating Purchase Business through Consumer Direct Webinar Jan. 9

MBA Education presents a Webinar, Generating Purchase Business through Consumer Direct, on Wednesday, Jan. 9 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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