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Volume 18 | Issue 50 | Thursday, March 14, 2019

The Lede


MBA: 2018 Commercial/Multifamily Mortgage Debt Climbs 6.8%

The Mortgage Bankers Association this morning reported commercial/multifamily mortgage debt outstanding at the end of 2018 rose by nearly 7 percent to $3.39 trillion.


Top National News

Mortgage Bankers Association Releases Paper Detailing CFPB Reforms

Financial Regulation News, Mar. 13, 2019--Dave Kovaleski
The Mortgage Bankers Association released a report this week detailing changes it proposes to the Consumer Financial Protection Bureau. The paper, called The Roadmap to CFPB 2.0, seeks to ensure stability and consistent consumer protections in the CFPB's practices and rules.

Weekly Mortgage Applications Hit a Record, But Not a Healthy One for Housing

CNBC, Mar. 13, 2019--Diana Olick
Total mortgage application volume rose 2.3 percent last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was essentially flat compared with the same week one year ago.

House Lawmakers Still Divided on Flood Insurance Reforms

American Banker, Mar. 13, 2019--Hannah Lang (subscription)
The House Financial Services Committee debated a package of legislation Wednesday to reform and reauthorize the National Flood Insurance Program, a program that both Republicans and Democrats agree needs substantial changes.

Housing Finance Reform Bill Coming by 2020: Crapo

National Mortgage News, Mar. 13, 2019--Melissa Angell (subscription)
The Senate Banking Committee is planning to tackle legislative reform of the government-sponsored enterprises in the current congressional term, said Chairman Mike Crapo, R-Idaho.

Paul Manafort Indicted by Manhattan Prosecutors in Mortgage Fraud Scheme

NBC News, Mar. 13, 2019--Tom Winter
Manafort, President Donald Trump's former campaign chairman, was indicted on 16 counts tied to residential mortgage fraud and conspiracy, according to the indictment unsealed Wednesday.

If You're Self-Employed or a 'Gig' Worker, Getting a Mortgage Just Got Easier

Washington Post, Mar. 13, 2019--Kenneth R. Harney
As of last week, the two largest sources of mortgage money in the United States--investors Freddie Mac and Fannie Mae--have deployed remarkable new technology that automates underwriting for applicants who are self-employed or have significant side income.

This is How Much the U.S. Spent on housing Construction in January

HousingWire, Mar. 13, 2019--Alcynna Lloyd
The Census Bureau announced construction spending during January was estimated at a seasonally adjusted annual rate of $1.28 trillion, rising 1.3% from the revised December estimate of $1.26 trillion.

Residential Finance News

MBA: February New Home Purchase Applications Up 6%

Mortgage Bankers Association Builder Applications Survey data for February show mortgage applications for new home purchases increased by 6 percent, unadjusted, from January and by 3 percent, unadjusted, from a year ago.

Quicken: Widening Gap Between Appraisal Values, and Homeowners' Perceptions

Quicken Loans, Detroit, said the gap between owner estimates and appraiser opinions of home value widened for the fourth consecutive month in February.

CFPB: VA Share of First-Time Home Buying Servicemembers Up Sharply

The Consumer Financial Protection Bureau released a report focusing on mortgages made to first-time homebuyers who are serving in the armed forces or are veterans, showing the share of servicemembers using VA mortgages nearly tripled in the years following the housing crisis.

Commercial/Multifamily News

mPower Moments: Debby Jenkins of Freddie Mac Multifamily

The Mortgage Bankers Association released an mPower Moment interview with Freddie Mac Executive Vice President and Head of Multifamily Debby Jenkins.

Data Center Demand--and Supply--Grows

Strong data and technology demand pushed the North American wholesale data center market to records for both demand and supply in 2018.

Dealmaker: Bellwether Enterprise Closes $62M for LA Fine Arts District Assets

Bellwether Enterprise Real Estate Capital LLC, Cleveland, closed two loans totaling $62 million for two office properties in downtown Los Angeles' Fine Arts District.

MBA News

MBA National Secondary Market Conference & Expo May 19-22

The Mortgage Bankers Association's National Secondary Market Conference & Expo returns to the New York Marriott Marquis May 19-22.

MBA Education School of Mortgage Banking I in Chicago May 14-17

MBA Education presents its popular School of Mortgage Banking Course I May 14-17 in Chicago.

Save on FedEx Shipping through MBA Member Advantage Program

Through the MBA Member Advantage Program, you can save up to 29 percent on small package shipping with FedEx.

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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