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Volume 18 | Issue 48 | Tuesday, March 12, 2019

The Lede


MBA Releases New Paper, The Roadmap to CFPB 2.0

The Mortgage Bankers Association yesterday released a new paper, The Roadmap to CFPB 2.0, which details recommendations to ensure stability and consistent consumer protections in the Consumer Financial Protection Bureau's practices and consumer financial laws.


Top National News

MBA Releases 'The Roadmap to CFPB 2.0'

National Mortgage Professional, Mar. 11, 2019--Phil Hall
The Mortgage Bankers Association published "The Roadmap to CFPB 2.0," a new paper that offers the trade group's recommendations on strengthening the mission of the Consumer Financial Protection Bureau.

DC's Housing Market Has a New Kind of Buyer, and It's Needed

WTOP, Mar. 11, 2019--Jeff Clabaugh
"The past couple of weeks seeing an increase in the average loan size suggests that some move-up buyers are entering the market and even some activity at the higher end pushing up that loan size," said Mike Fratantoni, chief economist with the Mortgage Bankers Association.

Takeaways from Trump Budget: CFPB Reform, FHA Fees and Student Loans

National Mortgage News, Mar. 11, 2019--Neil Haggerty, Kate Berry (free article)
Republican lawmakers have sought to reform the CFPB's funding every year since the bureau was created, in 2011, by proposing to add the agency to congressional appropriations. The president's budget proposes much of the same. Yet it is unlikely that Congress--particularly the Democratic-controlled House--would enact such a measure.

Insurance Rates Seen Rising in Flood-Prone Areas With Trump Plan

Bloomberg, Mar. 12, 2019--Christopher Flavelle
FEMA said it didn't yet know what the effect of the new system would be on premiums. But rates are likely to go up in neighborhoods with the greatest exposure to flood risks, which could hurt property values in those areas, according to Michael Berman, a former chairman of the Mortgage Bankers Association.

CECL Spells Trouble for Small Banks, Consumers

American Banker, Mar. 11, 2019--Blaine Luetkemeyer (free article)
The author, a Democrat from Missouri on the House Financial Services Committee, says the Current Expected Credit Loss standard proposed by the Financial Accounting Standards Board threatens to eliminate some lending services and restrict access to credit, particularly for low-income families.

Wells Fargo's Sloan to Congress: 'We are Taking Responsibility'

National Mortgage News, Mar. 11, 2019--Hannah Lang (free article)
Ahead of his testimony to Congress, Wells Fargo CEO Tim Sloan said that the megabank has worked to address past issues and is equally committed to preventing new problems from arising.

Homeownership is on the Rise Thanks to Young Buyers

The Mortgage Reports, Mar. 11, 2019--Aly J. Yale
More and more Americans are becoming homeowners--and younger generations are leading the charge. According to new data, owner households grew by more than 1 million last quarter, marking the eighth quarter in a row to see such growth.

Residential Finance News

Fannie Mae, Freddie Mac Begin Accepting Forward UMBS Trades

Fannie Mae and Freddie Mac yesterday announced they will begin accepting forward Uniform Mortgage-Backed Security trades with a trade date on or after March 12 and settlement dates on or after June 3.

CoreLogic: December Delinquency, Foreclosure Rates at 19-Year Low

CoreLogic, Irvine, Calif., said despite elevated delinquency rates in areas affected by hurricanes and wildfires, overall delinquency and foreclosure rates fell to levels not see since 2000.

Buyer Power Increasing in West Coast Markets

Limited inventory and rapid price appreciation have kept sellers firmly in the driver's seat for several years as the United States recovered from the housing market collapse. Now, says Zillow Inc., Seattle, buyers are gaining more negotiating power as the housing market slows, especially in some of the nation's hottest markets.

Commercial/Multifamily News

CMBS Delinquency Rate Falls Below 3%

The commercial mortgage-backed securities delinquency rate crossed another threshold in February, falling below 3 percent for the first time since May 2009, reported Trepp, New York.

Commercial/Multifamily Briefs

CBRE, Los Angeles, acquired Florida Valuation Group, a commercial real estate appraisal firm that specializes in right-of-way appraisal and litigation support related to eminent domain proceedings in the Southeast.

Dealmaker: Dwight Capital Closes Four Loans Totaling $129M

Dwight Capital, New York, closed four two 223(f) loans totaling $128.9 million in Nevada, North Carolina, Indiana and Texas.

MBA News

MBA National Advocacy Conference in D.C. Apr. 2-3

The Mortgage Bankers Association's annual National Advocacy Conference takes place Apr. 2-3 at the Capital Hilton in Washington, D.C.

MBA Legal Issues & Regulatory Compliance Conference in New Orleans May 5-8

The Mortgage Bankers Association's Legal Issues & Regulatory Compliance Conference takes place May 5-8 at the Hyatt Regency New Orleans.

MBA School of Mortgage Banking II in San Antonio Apr. 9-12

MBA Education presents its popular School of Mortgage Banking Course II Apr. 9-12 in San Antonio.

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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