HousingWire, Feb. 12, 2019–Kelsey RamirezEllie Mae announced Tuesday it entered into an agreement to be acquired by Thoma Bravo, a private equity investment firm. The deal is an all-cash transaction of $3.7 billion.
Category: Top National News
Powell Says Economy Is ‘Strong’ But Prosperity Missing Some Places
Bloomberg, Feb. 12, 2019–Steve MatthewsFederal Reserve Chairman Jerome Powell said the U.S. economy is “strong” though its benefits haven’t been felt evenly across the country.
Black Knight, Others Complete D&B Acquisition; Foley Ascends to Chairman
The Mortgage Leader, Feb. 12, 2019An investor group led by Black Knight Inc. and others has completed the acquisition of Dun & Bradstreet Inc., which had already been announced. The other lead investors include Cannae, CC Capital Partners, Bilcar, and funds affiliated with Thomas H. Lee Partners.
Debt Funds Have Banks Struggling to Keep Pace, Fretful Lenders Declare
Commercial Observer, Feb. 12, 2019–Matt GrossmanThe past decade has marked a great business cycle for lenders of all stripes. But bank executives at the Mortgage Bankers’ Association‘s conference in San Diego yesterday betrayed a sense of wariness that they’re being squeezed out of the running for good returns on palatable deals.
Multifamily Mortgage Lending Jumped 32% in the Fourth Quarter
HousingWire, Feb. 12, 2019–Ben LaneThe Mortgage Bankers Association recently predicted multifamily lending was on track to set another record in 2018. And now that 2018 is over, we’re starting to get a look at just how good of a year it was for multifamily lending.
Debt Funds’ Rising Influence Evident at MBA CREF
Commercial Property Executive, Feb. 12, 2019–Therese FitzgeraldDebt funds originated about $67 billion in mortgages in 2018-about 10 percent of total originations, up from $52 billion in 2017 and $32 billion in 2016, according to Jamie Woodwell, vice president of Commercial-Multifamily Research at the Mortgage Bankers Association. “They are clearly a significant player,” he said.
SunTrust Exec Says BB&T Merger Is All About Tech
Commercial Observer, Feb. 12, 2019–Matt GrossmanMarcy Fink, the chief administrative officer at SunTrust Commercial Real Estate, said that her institution’s upcoming merger with BB&T Bank is designed to build the scale needed for massive technology investments. She made the comments while speaking on a panel at the Mortgage Bankers Association conference in San Diego.
State AGs Assail CFPB Plan to Build Fintech Sandbox
American Banker, Feb. 12, 2019–Kate Berry (subscription)Twenty-two Democratic state attorneys general said the Consumer Financial Protection Bureau lacks sweeping authority to create a fintech sandbox that provides immunity from state law.
Fading Tailwinds Will Limit U.S. Economic Growth in 2019, Says MBA’s Chief Economist
RE Busines Online, Feb. 11, 2019–Matt ValleyDespite a strong U.S. job market, GDP growth will slow now that the tailwind from the Tax Cuts and Jobs Act has largely dissipated, predicts Michael Fratantoni, chief economist with the Mortgage Bankers Association.
Multifamily and CRE Mortgage Lending Projected to Match Record High
National Mortgage News, Feb. 11, 2019–Paul Centopani (subscription)Stable equity and debt availability should keep multifamily and commercial real estate originations in line with 2017’s peak, according to the Mortgage Bankers Association.