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Volume 18 | Issue 91 | Friday, May 10, 2019

The Lede


FHA Proposes New Lender Certification Requirements

The Federal Housing Administration yesterday proposed to overhaul its lender certification requirements, aimed at providing lenders and servicers greater certainty in how to satisfy the agency's compliance requirements.


Top National News

Trade Tensions Push Mortgage Rates Lower For Second Week in a Row

Washington Post, May 9, 2019--Kathy Orton
Concerns about the U.S.-China trade feud pushed mortgage rates lower this week. According to data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 4.1 percent with an average 0.5 point. (MBA mention)

Credit Standards Loosen as Mortgage Lenders Embrace Non-QM, Jumbo Loans

National Mortgage News, May 9, 2019--Elina Tarkazikis (subscription)
Mortgage lending credit standards loosened a bit last month as investors displayed more interest in non-qualified mortgage and nonagency jumbo loans to stay competitive, according to the Mortgage Bankers Association.

Can FHA's Promise of Softer Enforcement Get Lenders Back on Board?

National Mortgage News, May 9, 2019--Hannah Lang (subscription)
The financial services industry welcomed a proposed overhaul of how the Federal Housing Administration identifies False Claims Act violations, but some observers say it remains to be seen if the changes will lure mortgage lenders back to the FHA.

New Congressional Push on Credit Bureau Data Breaches

National Mortgage Professional, May 9, 2019--Phil Hall
A new effort is underway on Capitol Hill to reintroduce the Data Breach Prevention and Compensation Act, which is designed to create a new level of accountability for large credit reporting agencies that were hit with data breaches involving consumer data.

Small Mortgages Are Getting Harder to Come By

Wall Street Journal, May 9, 2019--Ben Eisen (subscription)
Lenders are offering fewer mortgages for cheaper properties even while racing to serve deep-pocketed home buyers.

Ocwen and FIS Agree to Settle Lawsuit Over Alleged Audit Abuses

National Mortgage News, May 9, 2019--Bonnie Sinnock (subscription)
Ocwen Financial and Fidelity Information Services entered into a settlement agreement over allegations involving a regulatory compliance audit the West Palm Beach, Fla.-based servicer was required to pay for.

As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm's Way

Wall Street Journal, May 9, 2019--Erin Ailworth (subscription)
As emergency managers prepare for hurricane and wildfire seasons, they say growing development and higher population in vulnerable areas will likely amplify the damage and devastation.

Residential Finance News

Key Housing Markets Still Seeing Bidding Wars

Redfin, Seattle, despite a noticeable nationwide decline in bidding wars for homes in April, pockets of the country, particularly on the West Coast, remain hot this spring.

22% of Millennials Still Live with Parents

More people age 23-37 are living with their parents than at any time this century, said Zillow Inc., Seattle. Nearly 22% of American millennials--more than 14 million in total--live with a parent or both parents, the highest share for this age group since at least 2000.

Commercial/Multifamily News

Multifamily Most Favored Property Type

Multifamily assets should offer the most favorable investment opportunity this year, followed by industrial properties, said Deloitte and Situs RERC.

Dealmaker: Berkadia Secures $80M for Multifamily

Berkadia, New York, secured $79.6 million for multifamily assets in Virginia and Florida.

MBA News

MISMO Spring Summit June 3-7 in Milwaukee; Registration Now Open

Registration is now open for the MISMO Spring Summit, taking place June 3-7 at the Pfister Hotel in Milwaukee.

MAA Action Week May 13-17

The Mortgage Action Alliance, MBA's free grassroots lobbying network, will hold its fourth annual Action Week May 13-17.

MBA Education Webinar: Technology & CRE Finance--Where Are We & Where Are We Headed? May 29

Join MBA Education for an informative webinar, Technology & CRE Finance: Where Are We & Where Are We Headed?, on Wednesday, May 29 from 2:00-3:30 p.m. ET.

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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