Not displaying correctly? View in a browser
Volume 18 | Issue 45 | Thursday, March 07, 2019

The Lede

 

MBA: Commercial/Multifamily Mortgage Delinquencies Remain Low in 4Q

Commercial and multifamily mortgage delinquencies remained at a low rate in the final three months of 2018, according to the Mortgage Bankers Association's 4th Quarter Commercial/Multifamily Delinquency Report.

 

Top National News

 
Inclusion, Demographics and MBA's Role

Mortgage Media, Mar. 6, 2019--S.A. Ibrahim
Marcia Davies read "Women in the Workplace," a comprehensive study of the state of women in corporate America, with some concern. Davies, chief operating officer of the Mortgage Bankers Association, knows gender and race inequality is not specific to the mortgage industry and is found across corporate America. Changing it is going to take a mindful, focused and purposeful approach at all levels, but especially from leadership.

Housing Industry to FHFA: Go Slow on GSE Reform

HousingWire, Mar. 6, 2019--Kelsey Ramirez
Talk of housing reform is heating up, and now several members of the housing industry (including the Mortgage Bankers Association) are encouraging the Federal Housing Finance Agency not to go too fast, and to make sure affordable housing remains a priority throughout the process.

Weekly Mortgage Applications Fall, But Hint at Who is Buying Homes Today

CNBC, Mar. 6, 2019--Diana Olick
Total application volume fell 2.5 percent week to week, according to a seasonally adjusted index from the Mortgage Bankers Association. Volume was 2 percent lower compared with the same week one year ago.

House Democrats Target CFPB Politicos, Other Mulvaney Changes in New Bill

American Banker, Mar. 6, 2019--Neil Haggerty (subscription)
A day before Consumer Financial Protection Bureau Director Kathy Kraninger is set to testify to the House Financial Services Committee, House Democrats introduced legislation to undo efforts to weaken the agency by her predecessor, former acting Director Mick Mulvaney.

Will Amazon Create Prime Competition for Mortgage Lenders?

National Mortgage News, Mar. 6, 2019--Brad Finkelstein (subscription)
The bogeyman that many in the mortgage industry fear may be closer than ever to making its appearance. Supposedly, big technology companies like Amazon and Google want to be in the real estate finance business.

Ocwen Planning to Lay Off More than 2,000 Mortgage Employees

HousingWire, Mar. 6, 2019--Ben Lane
Ocwen Financial plans to reduce its overall workforce by more than 2,000 employees over the course of this year, as the nonbank moves to reduce its costs after its $360 million acquisition of PHH.

The 2019 Capital Issue

GlobeSt.com, Mar. 7, 2019--Sule Aygoren
In the U.S., commercial property sales volumes were 11% higher during the first three quarters of 2018 than during the same period in 2017, according to the Mortgage Bankers Association.

Regulators Move to Ease Crisis-Era Levers Over Financial Firms

Wall Street Journal, Mar. 6, 2019--Andrew Ackerman, Liz Hoffman, Gabriel T. Rubin (subscription)
Regulators dialed back a practice of publicly shaming the nation's biggest banks through "stress test" exams, taking one of the biggest steps yet to ease scrutiny put in place after the 2008 crisis.

Florida Officials Used Hardest Hit Mortgage Rellief for Luxury Hotel Stays

Tampa Bay Times, Mar. 7, 2019--Susan Taylor Martin
Florida officials used a federal fund designed to help struggling homeowners as a "deep pocket'' for travel and stays in high-end hotels, a new report says. Between 2011 and 2016, officials of the Florida Housing Finance Corp. charged the Hardest Hit Fund all or part of the cost of attending conferences in San Diego, Orlando, Miami, Boston and Nashville, Tenn.

Hudson Yards Bets $2 Billion a New Manhattan Mall Can Succeed

Bloomberg, Mar. 7, 2019--Lily Katz, Kim Bhasin
The Shops at Hudson Yards, opening to the public March 15, has been given the herculean task of luring consumers to what was once a commercial desert-a section of Manhattan's West Side hemmed in by a commuter rail yard and the massive Jacob Javits Convention Center.

Residential Finance News

 
February Mortgage Credit Availability Up 0.6%

Mortgage credit availability increased in February, the second consecutive monthly gain, the Mortgage Bankers Association reported this morning.

Black Knight: Affordability Outlook Improves As Prices Slow

Black Knight, Jacksonville, Fla., said annual home price appreciation slowed in December for the 10th consecutive month in December, from a high of 6.8 percent annual growth last February to 4.6 percent at the end of the year.

Commercial/Multifamily News

 
Investors Look to Secondary Markets, Alternative Assets

The search for yield this late in the cycle is enticing more commercial real estate investors into secondary markets and alternative assets, analysts said.

Dealmaker: Maverick Commercial Mortgage Arranges $101M

Maverick Commercial Mortgage, Chicago, closed $100.8 million for condominium and office assets in Illinois and Indiana.

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.

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 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

MBA NewsLink, a daily electronic publication, is a member benefit free to employees of MBA member companies, and available by paid subscription to non-members. For membership information, click here.

If this email has been forwarded to you, please visit our web site to subscribe.

The links at the end of each abstract are to the publisher, publication, or article. Some links may require registration or subscription.

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.