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Volume 18 | Issue 60 | Thursday, March 28, 2019

The Lede


MBA CEO to Senate Committee: GSE Reform Should Proceed 'Without Delay'

Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, in testimony yesterday before the Senate Banking Committee, said Congress should move forward with comprehensive housing reform legislation without delay.


Top National News

Trump Directs Treasury, HUD to Enact Housing Finance Reform

Mortgage Orb, Mar. 27, 2019--Patrick Barnard
The memorandum comes the same day numerous housing finance groups testified before the Senate Banking Committee on a proposed housing finance reform bill introduced by Chairman Mike Crapo, R-Idaho. "The housing finance system requires structural reforms that will ensure a stable, liquid secondary market to support a vibrant, diverse primary market, and comprehensive legislation is essential for such reforms," said Robert D. Broeksmit, CMB, president and CEO of the Mortgage Bankers Association.

Trump Officially Calls for End to Fannie Mae, Freddie Mac Conservatorship

HousingWire, Mar. 27, 2019--Jessica Guerin, Ben Lane
President Donald Trump is officially calling for an end to the conservatorship of Fannie Mae and Freddie Mac, the White House said Wednesday.

Weekly Mortgage Applications Surge Nearly 9% on Lower Rates

CNBC, Mar. 27, 2019--Diana Olick
Mortgage applications jumped 8.9 percent last week from the previous week and 5.7 percent from a year earlier, according to the Mortgage Bankers Association.

5 Key Themes Dictating the Direction of Digital Mortgages

National Mortgage News, Mar. 27, 2019--Elina Tarkazikis (subscription)
From rising closing costs to implementation strategies, here's a look at five themes shaping the direction of digital mortgages in 2019, according to topics discussed at the Mortgage Bankers Association Technology Conference March 24-27 in Dallas.

Mortgage Profitability Hits All-Time Low in Q4

HousingWire, Mar. 27, 2019--Kelsey Ramirez
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $200 for each loan they originated in the fourth quarter, according to the Quarterly Mortgage Bankers Performance Report released by the Mortgage Bankers Association.

New FHA Rules Make it Tougher for People to Get a Mortgage

Washington Post, Mar. 27, 2019--Kenneth R. Harney
First-time and move-up home buyers with heavy debt loads, low credit scores and small down payments face a daunting new mortgage hurdle: The Federal Housing Administration is toughening its underwriting standards. Large numbers of applications could be turned down in the coming months as a result.

Climate Change Matters for Real Estate--Just Not the Way You Might Think

Barrons, Mar. 27, 2019--Alexandra Scaggs (free content)
Analysts have spent years warning that the costs of climate change will pile up for real estate investors, as rising sea levels could cause severe weather and flood damage.

California Lawmaker Considers Statewide CFPB

American Banker, Mar. 27, 2019--Kate Berry (subscription)
Assemblywoman Monique Limon, D-Santa Barbara, said Wednesday that California needs more consumer protection, either through the creation of a new agency similar to the federal Consumer Financial Protection Bureau, or by increasing the enforcement budget of the state's Department of Business Oversight.

Residential Finance News

MBA Chairman: Time for Industry to Go on Technology Offense

DALLAS--Mortgage Bankers Association Chairman Christopher George says while the mortgage industry has come a long way since the financial crisis, it must continue its focus on technology.

Residential Briefs

Fidelity National Financial, Jacksonville, Fla., launched a digital closing experience for consumers closing in its title operations. Developed in partnership with Black Knight Inc., it supports both hybrid and fully digital closing options and is tightly integrated with FNF's title production systems.

Commercial/Multifamily News

CMBS Defeasance Volume Rebounds

Commercial mortgage-backed securities defeasance volume rebounded last year after a two-year decline, reported Moody's Investors Service, New York.

Dealmaker: Hall Structured Finance Closes $42M Hotel Construction Loan

Hall Structured Finance, Dallas, closed a $41.8 million first lien construction loan to finance construction of a dual-branded 144-room Aloft Hotel and 140-room extended-stay Element Hotel in Orlando, Fla.

MBA News

MBA State & Local Workshop Apr. 1-2

The Mortgage Bankers Association's popular annual State & Local Workshop takes place Apr. 1-2 at the Capital Hilton in Washington, D.C.

MBA Education Advanced Risk Management for Pros June 3-5 in D.C.

MBA Education presents its popular Advanced Risk Management for Mortgage Pros Workshop, in conjunction with the Robert H. Smith School of Business at the University of Maryland, in Washington, D.C. June 3-5.

Make Your Voice Heard through MBA Mortgage Action Alliance

The Mortgage Action Alliance is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association.

Capital Markets Summit in New York April 10

The Mortgage Bankers Association Capital Markets Summit brings together the wider commercial real estate finance industry to learn about growing capital sources such as debt funds and mortgage REITs.

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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