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Volume 18 | Issue 43 | Tuesday, March 05, 2019

The Lede


CFPB Issues Advance Notice of Proposed Rulemaking on PACE Financing

The Consumer Financial Protection Bureau yesterday issued an Advance Notice of Proposed Rulemaking on residential Property Assessed Clean Energy (PACE) financing.


Top National News

The Lineup Hotseat: Trish Gregovich, Tournament Director, Ellie Mae Classic

HousingWire, Mar. 4, 2019
The Ellie Mae Classic is part of the PGA Tour's qualifying Tour and benefts the MBA Opens Doors Foundation, the Warriors Community Foundation, Youth on Course and The First Tee. We spoke with Trish Gregovich, Tournament Director, to fnd out more about the Ellie Mae-PGA Tour collaboration.

Housing Secretary Ben Carson Says He Intends to Leave After First Term

Washington Post, Mar. 4, 2019--Tracy Jan
Housing and Urban Development Secretary Ben Carson says he intends to leave his post at the end of President Trump's first term.

Why Baby Boomer Homeownership is Growing Faster than Millennials

National Mortgage News, Mar. 4, 2019--Elina Tarkazikis, Austin Kilgore (subscription)
While millennials today comprise the largest cohort of homebuyers, the aging baby boomer generation has created 7.86 million more homeowners and 2.82 million renters age 60 and older--growth rates higher than any other demographic.

REITs Take On New Shine Amid Fed's Softened View on Rates

Wall Street Journal, March 4, 2019 --Jessica Menton (subsription)
The Federal Reserve's dovish tilt this year has been a boon for real estate shares that had been pressured by a threat of higher interest rates. Investors are scooping up REIT shares because of their large dividends and strong earnings growth.

American Mortgage Consultants Buys Third Party Title Search Firm

National Mortgage News, Mar. 4, 2019--Bonnie Sinnock (subscription)
American Mortgage Consultants has acquired title search outsourcer String Real Estate Information Services as part of ongoing efforts to support all the services secondary-market clients need to conduct trades.

Goldman Sachs Surpasses $1.25 Billion in Customer Relief in Massive Toxic Mortgage Bond Settlement

HousingWire, Mar. 4, 2019--Ben Lane
Goldman Sachs recently surpassed the $1.25 billion mark in the $1.8 billion in customer relief the company is required to provide as part of its $5 billion settlement reached in April 2016 over toxic mortgage bonds.

U.S. Construction Spending Falls, Fourth Quarter GDP Seen Revised Lower

Reuters, Mar. 4, 2019--Lucia Mutikani
U.S. construction spending unexpectedly fell in December as investment in both private and public projects dropped, leading economists to expect that the government will trim its economic growth estimate for the fourth quarter.

Residential Finance News

Home Flipping Falls to 7-Year Low in 2018

ATTOM Data Solutions, Irvine, Calif., said home flipping activity fell in 2018 by nearly 4 percent from a year earlier to its lowest level since 2011.

Falling Rates Drive Jump in Loan Defect Risk

First American Financial Corp., Santa Ana, Calif., released its Loan Application Defect Index for January, showing frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased by 4.6 percent compared December, the fifth consecutive monthly increase.

Genworth: 2018 ‘Best Purchase Year for First-Time Homebuyers since 2006'

Genworth Mortgage Insurance, Richmond, Va., released its quarterly First-Time Homebuyer Market Report, showing 2.07 million first-time homebuyers purchased single-family homes in 2018, the most since 2006.

Residential Briefs

Altisource Portfolio Solutions S.A., Luxembourg, launched its bundled FHA product designed to provide customized asset management services for delinquent FHA loans.

Commercial/Multifamily News

Report Cites Obstacles To Multifamily Development

The most significant barrier new multifamily development faces is the rising cost of construction, reported Colliers International, Toronto.

Commercial/Multifamily Briefs

Nuveen Real Estate launched its U.S. Cities Multifamily Fund, an open-end perpetual life real estate investment vehicle that will acquire and manage institutional-quality multifamily rental properties across the United States.

Dealmaker: Associated Bank Secures $31M

Associated Bank, Green Bay, Wis., secured $31.2 million for multifamily and retail assets in Chicago and Buffalo Grove, Ill.

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 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.

MBA Member Advantage Program Adds New Partners

Your MBA membership entitles you to discounts on services such as office supplies, car rental, shipping, employee benefit services and more though our affinity program: MBA Member Advantage.

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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