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Volume 18 | Issue 53 | Tuesday, March 19, 2019

The Lede

 

Builder Confidence Holds Steady in March

Home builder confidence in the market for newly built single-family homes held steady in March, the National Association of Home Builders reported yesterday.

 

Top National News

 
A Clear Path Forward for the CFPB

MReport, Mar. 18, 2019--Krista Franks Brock
With the Consumer Financial Protection Bureau appearing at a juncture set to "critically examine" its practices following the release of 12 requests for information last year, the Mortgage Bankers Association released last week its own proposed "roadmap" forward for the bureau.

PwC Reaches $335 Million settlement with FDIC over Taylor, Bean & Whitaker/Colonial Bank Audits

HousingWire, Mar. 18, 2019--Ben Lane
PricewaterhouseCoopers will pay $335 million to the Federal Deposit Insurance Corp. in a settlement that ends claims that the auditor failed in its duties by not discovering the accounting malfeasance that led to the late-2000s collapse of Colonial Bank, which funded the mortgages originated by Taylor, Bean & Whitaker.

Lower FICOs, Higher DTIs Prompt a Change in FHA Loan Underwriting

National Mortgage News, Mar. 18, 2019--Bonnie Sinnock (subscription)
The Federal Housing Administration is returning to manual reviews of higher-risk loans it insures because it's finding that a growing share have lower credit scores, higher debt-to-income ratios, or both.

Strong Home Purchase Season Could Deter Economic Slowdown

National Mortgage News, Mar. 18, 2019--Brad Finkelstein (subscription)
A strong spring home purchase season could reverse the downward trends in single-family construction and remodeling activity and help deter an economic downturn, a report from BuildFax said.

This Housing Market Clue Predicts Pending Economic Slowdown

HousingWire, Mar. 18, 2019--Jessica Guerin
One critical clue from the housing market has emerged to suggest economic growth is likely to backslide, and that is a steady decline in single-family authorizations. In essence: Construction activity appears to be slowing.

This Bubble-Era Mortgage Trick Could Smash Major U.S. Housing Markets

MarketWatch, Mar. 18, 2019--Keith Jurow
The author says cash-out refinances could leave some housing markets particularly vulnerable to the same issues that plagued them during the Great Recession.

Residential Finance News

 
MBANow: First American Mortgage Solutions President Kevin Wall

The Mortgage Bankers Association released an MBANow interview with Kevin Wall, President of First American Mortgage Solutions, Santa Ana, Calif.

San Francisco 'Worst' Metro for First-Time Homebuyers

Six of the worst metros for first time home buyers are in California, with San Francisco topping--or rather, bottoming--the list, said Bankrate.com, New York.

Residential Briefs

CoreLogic, Irvine, Calif., launched PanoramIQ, designed to deliver a more complete view of property data with more current and reliable sources than public-record data alone.

Commercial/Multifamily News

 
Apartment Rent Growth Hits 10-Month High

Apartment rent prices grew at their fastest rate in 10 months in February after decreasing last fall for the first time in years, reported Zillow, Seattle.

Commercial/Multifamily Briefs

Collateral Analytics, Honolulu, launched a new automated valuation model to help lenders monitor commercial property values and provide access to CRE valuations.

Dealmaker: Quantum Capital Partners Secures $38M

Quantum Capital Partners, Beverly Hills, Calif., secured $38 million in short- and long-term debt to refinance a three-property downtown Los Angeles portfolio for Robhana Group, Beverly Hills.

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.

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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