National Real Estate Investor, Oct. 25, 2017–Beth Mattson-TeigThe continued liquidity for the riskiest tranche of comercial mortgage-backed securities loan pools is good news for borrowers.
Category: Top National News
U.S. Mortgage Supply Seen Falling in 2018: MBA
Reuters, Oct. 24, 2017–Richard LeongU.S. lenders are expected to issue a smaller amount of mortgages in 2018 on a sharp drop in refinancing demand, but loan originations will pick up in 2019, the Mortgage Bankers Association said on Tuesday.
FHFA’s Watt Defends URLA Language Preference Update
National Mortgage Professional, Oct. 24, 2017–Phil HallFederal Housing Finance Agency Director Mel Watt used his appearance at the Mortgage Bankers Association’s Annual Convention to defended his agency’s decision to include a new language preference question in the upcoming Uniform Residential Loan Application.
Lord & Taylor Sells NYC Flagship Store for $850M
Wall Street Journal, Oct. 24, 2017–Suzanne Kapner, Eliot Brown (subscription)Lord & Taylor is selling its flagship New York City store for $850 million, a move that will convert most of the landmark building into office space and the headquarters of real estate startup WeWork Cos.
Big Mall Operator Does the Unthinkable–Builds a Mall
Wall Street Journal, Oct. 24, 2017–Suanne Kapner (subscription)On a bright August morning, GGP Inc., one of the country’s largest mall operators, did the unthinkable. It broke ground on a new shopping mall, a seemingly risky bet in a world where retailers are closing hundreds of stores and malls across the country are trying to reinvent themselves. It could be one of the last enclosed malls ever built in the U.S.
Four Questions as Senate Vote Nears on CFPB Arbitration Rule
National Mortgage News, Oct. 24, 2017–Kate Berry, Ian McKendry (subscription)The GOP appears to have barely enough votes to roll back the contentious CFPB rule, and floor debate was expected to begin Tuesday with a final vote possible at any time. But victory was not assured, as key GOP senators were still a question mark.
Higher Costs, MSR Loss Weigh Down Flagstar’s Quarterly Results
American Banker, Oct. 24, 2017–John Reosti (subscription)Flagstar Bancorp in Troy, Mich., reported lower earnings after higher expenses and a loss tied to mortgage-servicing rights offset revenue from commercial loan growth.
MBA Experts on GSE Reform: Where Does Risk Fall When it Comes to Reform?
HousingWire, Oct. 24, 2017–Brena SwansonAs conservations have slowly shifted from almost a joke to more of a serious possibility under the new administration, several experts at the Mortgage Bankers Association’s 2017 annual convention and expo weighed in on the probability reform and what lies ahead for reform.
HELOC Production Forecasted to Double
Mortgage Daily, Oct. 24, 2017Origination of new credit lines secured by residential properties is expected to double over the next five years thanks to improving market conditions, said TransUnion.
Mortgage Bankers Boost Outlook Nearly $200 Billion
Mortgage Daily, oct. 24, 2017The Mortgage Bankers Association, which disclosed its latest expectations in its MBA Mortgage Finance Forecast, raised its fourth-quarter prediction from $370 billion in last month’s outlook, while the first-quarter 2018 projection increased from $345 billion.