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Volume 18 | Issue 88 | Tuesday, May 07, 2019

The Lede

 

Black Knight: Servicing Retention at 13-Year Low

Black Knight, Jacksonville, Fla., reported the share of borrowers who remain with their prior servicer post-refinance reached record lows, creating possible challenges in an ever more competitive marketplace.

 

Top National News

 
Q&A: Marcia Davies, Mortgage Bankers Association

Scotsman Guide, May 6, 2019--Jim Davis
Eight years ago, Marcia Davies took at a job at the Mortgage Bankers Association. Attending MBA-sponsored conferences, Davies noticed women often did not know each other. Davies decided to do something about that. In 2016, she launched mPower--MBA Promoting Opportunities for Women to Extend their Reach--a networking platform for women in the real estate finance industry.

CMB: 'The Industry Standard of Professional Success'

Mortgage Media, May 6, 2019
In a recent panel discussion, former MBA President & CEO Dave Stevens--a CMB himself--spoke with four people who are active in the area of helping professionals on the pathway to attain the Certified Mortgage Banker (CMB) designation from the Mortgage Bankers Association.

Critics Say HUD Bid to Restrict Down Payment Programs Skirts Law

American Banker, May 6, 2019--Hannah Lang (subscription)
The National Homebuyers Fund and the Chenoa Fund, the latter of which is fighting the policy in court, say HUD tried to avoid scrutiny last month when it imposed new restrictions outside a formal rulemaking process. HUD's mere letter to lenders seeking to "clarify" preexisting rules could threaten the funds' very existence, they say.

5 Reasons Nonbank Mortgage Lenders Look to Break New Ground

National Mortgage News, May 6, 2019--Bonnie Sinnock (subscription)
With new single-family home inventory a bright spot in the consumer real estate market, lending against the construction of new homes offers one of the few ways to expand.

Gateway Mortgage Group Completes Bank Acquisition

National Mortgage Professional, May 6, 2019--Phil Hall
Gateway Mortgage Group LLC has completed its merger with Farmers Exchange Bank to form Gateway First Bank.

PIMCO Mortgage Trust Sets Terms of IPO, to Raise About $1 Billion

MarketWatch, May 6, 2019--Tomi Kilgore
The real estate investment trust plans to use "a significant portion" of the proceeds from the IPO to buy agency residential mortgage backed securities and, over time, excess mortgage servicing rights and residential mortgage loans.

The 55+ Housing Market is Booming

HousingWire, May 6, 2019--Jessica Guerin
The 55+ housing market is thriving right now as more Baby Boomers look to invest in a new nest to live out their retirement dreams.

Residential Finance News

 
CoreLogic: March Home Price Appreciation Slows to Under 4%

CoreLogic, Irvine, Calif., said March annual home price appreciation slowed to just 3.7 percent, although it noted price appreciation could tick up to nearly 5 percent by year-end.

Phoenix Regains Top 'Migration Destination' in 1Q

Redfin, Seattle, reported 25 percent of its website home searchers looked to move to another metro area in the first quarter, up from 23 percent last year, tying its highest level on record.

Commercial/Multifamily News

 
CBRE: 1st Quarter CRE Lending Up 18%

Commercial real estate lending activity started 2019 strong as equity and debt markets were calmed by the Federal Reserve's decision to hold firm on rates, reported CBRE, Los Angeles.

Dealmaker: Park Hotels to Buy Chesapeake Lodging Trust for $2.7B

Park Hotels & Resorts, Tysons Va., agreed to buy fellow real estate investment trust Chesapeake Lodging Trust, Arlington, Va., in a $2.7 billion deal.

MBA News

 
MBA Document Custody Workshop June 20

The Mortgage Bankers Association's popular Document Custody Workshop takes place Thursday, June 20 at the Ritz-Carlton Tysons Corner in McLean, Va.

MBA Compliance Essentials Offers Certified Mortgage Compliance Professional Designation Level 1

Earn recognition for your mortgage compliance expertise: MBA Education and the MBA Compliance Essentials program offer the only certification and designation program geared exclusively towards compliance professionals in the mortgage finance industry, the Certified Mortgage Compliance Professional (CMCP).

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.

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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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.