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Volume 18 | Issue 42 | Monday, March 04, 2019

The Lede

 

MBA Advocacy Update

MBA and 27 other organizations sent a letter to FHFA Acting Director Joseph Otting on priorities for preserving access and affordability when undertaking administrative reforms to the GSEs. And Federal Reserve Chairman Jerome Powell addressed both the House and Senate, answering questions on both GSE reform and the Current Expected Credit Losses accounting standard.

 

Top National News

 
7 Ways Borrowers are Changing Mortgage Servicing

National Mortgage News, Mar. 1, 2019--Elina Tarkaziks, Austin Kilgore (free article)
Innovating for the borrower was a consistent theme during the MBA's 2019 Mortgage Servicing Conference in Orlando, Fla. Whether through greater investments in technology and talent, or streamlining back-end processes to improve the consistency and speed of the decision-making process, servicers are doing more to prioritize borrowers in their businesses.

Banks Won't Be Able to Remain on Sidelines of Privacy Debate

American Banker, Mar. 3, 2019--Victoria Finkle (subscription)
The data breach at Equifax and Facebook's scandals have made data privacy a big issue to state and federal lawmakers. Here's why banks need to be worried.

More First-Time Home Buyers in the Military are Using VA Loans: CFPB

National Mortgage News, Mar. 1, 2019--Bonnie Sinnock (subscription)
The conventional market recaptured a lot of the first-time homebuyers it lost during the financial crisis, but servicemembers instead have increasingly stuck with loans insured by the Department of Veterans Affairs.

New Study Shows Financial Potholes in House Flipping

National Mortgage Professional, Mar. 1, 2019--Phil Hall
Just because house flipping looks like fun on HGTV doesn't mean the actual process is a breezy escapade. According to a new study from Porch.com, would-be flippers often flop when it comes to strategy planning.

Freddie Mac: February Forecast Hints at Mortgage Market Slowdown

HousingWire, Mar. 1, 2019--Alcynna Lloyd
This year's mortgage market is projected to grow modestly, as both mortgage and interest rates slide further, according to Freddie Mac's February Forecast.

U.S. Consumer Sentiment Slipped in Late February

Wall Street Journal, Mar. 1, 2019--Sharon Nunn (subscription)
U. S. consumer sentiment fell at the end of February. The University of Michigan on Friday said its consumer sentiment index declined to 93.8 in late February from 95.5 earlier in the month.

Residential Finance News

 
MBA-Led Coalition Urges FHFA to Make Market Stability Priority in GSE Reform

The Mortgage Bankers Association, joined by 27 other organizations representing a cross-section of consumer and industry organizations, sent a letter Friday to Federal Housing Finance Agency Acting Director Joseph Otting on priorities for preserving access and affordability when undertaking administrative reforms to Fannie Mae and Freddie Mac.

MBA Chart of the Week: Low-to-Moderate Income Originations by Company Type

In 2017, IMBs accounted for more than 80 percent of Federal Housing Administration loans, 70 percent of Veterans Affairs loans and 64 percent of loans guaranteed by U.S. Department of Agricultural Rural Housing Service loans.

The Week Ahead

House Financial Services Committee Chair Maxine Waters, D-Calif., has a busy hearing schedule for March, starting this Thursday, Mar. 7 with a hearing on Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau.

Commercial/Multifamily News

 
CRE Price Growth Slows to Eight-Year Low

Growth in U.S. commercial property prices slowed to the weakest annual pace in eight years in January, reported Real Capital Analytics, New York.

Dealmaker: Pebblebrook Sells Two D.C. Hotels for $253M

Pebblebrook Hotel Trust, Bethesda, Md., sold 335-room Hotel Palomar Washington, D.C. to Hospitality Properties Trust, Newton, Mass., for $141.5 million, or $422,388 per key.

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 Compliance Essentials Offers Certified Mortgage Compliance Professional Designation Level 1

Earn recognition for your mortgage compliance expertise: MBA Education and the MBA Compliance Essentials program offer the only certification and designation program geared exclusively towards compliance professionals in the mortgage finance industry, the Certified Mortgage Compliance Professional (CMCP).

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.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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One Voice. One Vision. One Resource. The Mortgage Bankers Association  (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.