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Volume 18 | Issue 55 | Thursday, March 21, 2019

The Lede

 

Remodeling Poised for Short-Term Growth

With the spring home buying season showing some signs of promise--but with construction still at depressed levels--several reports suggest many would-be move-up homeowners are turning to remodeling in the short term.

 

Top National News

 
Mortgage Applications Set a Record for the Third Straight Week...

CNBC, Mar. 20, 2019--Diana Olick
Total mortgage application volume rose 1.6 percent last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 1.8 percent higher than a year ago.

Supreme Court Makes it Harder for Borrowers to Fight Foreclosures in Non-Judicial States

HousingWire, Mar. 20, 2019--Jacob Gaffney
Law firms, mortgage lenders and servicers were just awarded more protection in serving non-judicial foreclosures, according to a recent Supreme Court ruling.

Jumbo Mortgages Are Slowing Down, Testing Banks' Postcrisis Playbook

Wall Street Journal, Mar. 21, 2019--Ben Eisen, Laura Kusisto (subscription)
High-end home buyers are turning cautious, a blow to banks that refocused their mortgage businesses around wealthy borrowers in the years after the financial crisis.

Lack of Diversity at Home Loan Banks 'Concerning,' Waters Says

National Mortgage News, Mar. 20, 2019--Hannah Lang (subscription)
While the Federal Home Loan Banks have taken steps to improve diversity among boards of directors, members are still largely male and nonminorities, according to a Government Accountability Office report released Wednesday.

Fannie Mae: Home Sales Will Stabilize in 2019

HousingWire, Mar. 20, 2019--Jessica Guerin
Home sales will stabilize this year, with a solid labor market and strong household formations driving demand, Fannie Mae's Economic and Strategic Research Group stated in its March outlook.

Residential Finance News

 
Fed Holds Line on Rates--And May Keep It That Way

The Federal Open Market Committee, as expected, held the federal funds rate following its policy meeting yesterday and hinted that it might be done raising rates for a while.

Black Knight: February Delinquencies Up; Prepayments Rise

Black Knight, Jacksonville, Fla., said mortgage delinquencies rose in February, the first increase in that month in 12 years.

Declining Sales, Inventories Push Transition to Buyer's Market

RE/MAX, Denver, said two trends--declining sales and growing inventory--continue to push the U.S. housing market from a seller's market to a buyer's market in February.

Commercial/Multifamily News

 
Digging Deeper on CRE Transaction Volume

Transaction volume is a good indicator of a market's commercial real estate activity, but it may not completely capture pricing trends, said Situs RERC, Houston.

Dealmaker: Walker & Dunlop Secures $90M for Office, Land Assets

Walker & Dunlop, Bethesda, Md., structured $89.5 million in financing for Georgia and Florida office and land assets.

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 Banking III in D.C. June 11-14

MBA Education presents its School of Mortgage Banking Course III June 11-14 at MBA headquarters in Washington, D.C.

Make the Most of Your MBA Membership: Special Focus on Loan Servicing Webinar Mar. 22

The Mortgage Bankers Association invites you to participate in a Mar. 22 webinar focused on loan servicing.

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.