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Volume 18 | Issue 52 | Monday, March 18, 2019

The Lede


MBA Advocacy Update

Last week, the Trump Administration released its proposed budget blueprint (which holds no force of law) for Fiscal Year 2020.


Top National News

Crapo Planning Two Days of Senate Banking Committee Hearings on GSE Reform

American Banker, Mar. 15, 2019--Hannah Lang (subscription)
The Senate Banking Committee will hold two days of hearings at the end of March on Chairman Mike Crapo's most recent framework for housing finance reform. Robert Broeksmit, President and CEO of the Mortgage Bankers Association, and Vince Malta, president-elect of the National Association of Realtors, are among the witnesses slated to testify at the March 27 hearing.

Time for the Housing Market to Spring Forward

CNN, Mar. 17, 2019
"The housing market remains poised for a strong spring," said Joel Kan, associate vice president of economic and industry forecasting for the Mortgage Bankers Association. "We are starting to see signs of more new residential construction and inventory, which increases buying opportunities for the many home shoppers who have been hampered by the ongoing lack of supply."

New Home Mortgage Applications Are Rising, and So are the Loan Amounts

National Mortgage News, Mar. 15, 2019--Elina Tarkaziks (subscription)
Mortgage applications for new-home purchases are on the rise, and their loan amounts are also getting larger, according to the Mortgage Bankers Association.

Federal Reserve Rate Projections Could Show Greater Confidence in Extended Pause

Wall Street Journal, Mar. 17, 2019--Nick Timiraos (subscription)
Federal Reserve officials are likely to end their meeting this week signaling little if any appetite to raise interest rates this year, part of a strategy designed to reduce the risks of a sharp slowdown in global economic growth.

U.S. Fintech FIS to Buy Payment Processor Worldpay for about $35 Billion

Reuters, Mar. 18, 2019--Justin George Varghese
U.S. fintech group Fidelity National Information Services Inc agreed to buy payment processor Worldpay for about $35 billion, in the biggest deal to date in the booming payments industry.

What's Behind OCC's Public Rebuke of Wells Fargo?

American Banker, Mar. 15, 2019--Kate Berry (subscription)
Traditionally, the federal banking agencies are extremely cautious to even name specific banks, concerned the attention could lead to deposit outflows or other fallout. But the regulators - most notably the Office of the Comptroller of the Currency--appear to be taking a different tack with Wells, feeding statements to the press that do little to hide their frustration with the megabank.

‘Bank of Mom & Dad' Ranks 7th Among Mortgage Originators

The Financial Brand, Mar. 18, 2019--Steve Cocheo
If the "Bank of Mom & Dad" would have an enviable balance sheet if it was a chartered institution. According to a new study, this figurative bank now ranks as the seventh-largest housing loan originator.

Is San Francisco the World's Most Expensive Rental Market?

HousingWire, Mar. 15, 2019--Caroline Basile
Spoiler alert: yes. Yes, it is.

New Tools to End Buyer-Seller Battles

UExpress, Mar. 15, 2019--Lew Sichelman
If you are familiar with inspection reports, you know they can be lengthy and detailed--and therefore difficult to decipher. They also offer little, if any, insight into what it might cost to repair what the inspector says needs to be fixed.

Residential Finance News

MBA Chart of the Week: Annual Change in Owner-Occupied, Renter Households

This week's Chart of the Week highlights U.S. Census Bureau data showing 1.6 million additional owner-occupied households in 2018--the largest annual increase since 2004.

Insure or Protect? Analysts Say 'Protect'

A quarterly survey of 100 economists by Zillow Inc., Seattle, and Pulsenomics LLC found with climate change and natural disasters posing a growing threat to communities across the United States, funding for preventative measures and construction regulations makes better sense than the government providing or requiring insurance.

The Week Ahead

The Mortgage Bankers Association's annual Technology Solutions Conference & Expo is less a week away, taking place Mar. 24-27 at the Hyatt Regency Dallas.

Commercial/Multifamily News

Single-Family Rental Returns Growing But Uneven

Buying single-family houses to rent them out is more appealing to investors now than a year ago, reported ATTOM Data Solutions, Irvine, Calif.

Dealmaker: Cohen Financial Arranges $28M for Retail, Hotel Assets

Cohen Financial, Chicago, arranged $28.1 million for a North Carolina retail center and a Chicago hotel.

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 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 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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