The Lede
Top National News
Mortgage Rates Continue their Three-Week Slump
Washington Post, Jan. 19, 2017--Orton, KathyMortgage rates receded for the third week in a row as financial markets reacted to a handful of economic news. "Mortgage activity was lackluster last week, with total volume up less than 1 percent on a seasonally adjusted basis," said MBA chief economist Michael Fratantoni.
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Three Factors That Will Impact Financing for Commercial Properties in 2017
National Real Estate Investor, Jan. 18, 2017--Paskover, MitchThe financing market has demonstrated tremendous growth and robust activity this past year. The Mortgage Bankers Association said more than $500 billion in commercial real estate loans were originated, indicating a strong financial landscape for lending.
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MGIC Sees a 5% Increase in Its 4Q Net Income
National Mortgage News, Jan. 19, 2017--Finkelstein, BradMGIC Investment Corp. reported net income of $107.5 million for the fourth quarter, an increase of nearly 5% over the $102.4 million earned in the same period of 2015.
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The Mortgage Market’s $1 Trillion Pocket of Worry
Wall Street Journal, Jan. 19, 2017--Andriotis, AnnamariaBonds backed by certain risky single-family mortgages topped $1 trillion for the first time in November, crossing that threshold amid rising warnings for one corner of the housing market.
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Could the 30-Year Mortgage Survive Without the Government?
Bloomberg, Jan. 19, 2017--Light, JoeSome in the housing industry say that without the government's support, 30-year mortgages may become scarce, leaving home ownership out of reach for many Americans.
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Ignore the Mortgage Market’s Nervous Nellies–These Brokers See Home Sales Growth Doubling in 2017
Marketwatch, Jan. 19, 2017--Riquier, AndreaDespite the recent surge in mortgage rates, the increasingly tight inventory of homes to buy, ever-higher prices and other familiar headwinds, one survey suggests the market may actually improve in 2017.
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How Fintech Can Disrupt the $14T Mortgage Market
Investopedia, Jan. 19, 2017--Friedberg, Barbara A.Fintech, which has already disrupted the payments, banking and financial advisory markets, is beginning to enter the $14 trillion mortgage market. Given the growing popularity of digital financial solutions, there appears to be a demand for electronic mortgage solutions among home buyers and sellers alike.
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Donald Trump Is Expected to Move Quickly to Start Regulatory Rollback
Wall Street Journal, Jan. 19, 2017--Ackerman, Andrew; Harder, AmyPresident-elect Donald Trump is expected to launch swiftly his administration's deregulatory agenda, according to lobbyists who have discussed the matter with the transition team, affecting rules governing everything from investment advice to mortgage insurance and power-plant emissions.
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Four Takeaways from Mnuchin’s Capitol Hill Grilling
National Mortgage News, Jan. 19, 2017--McKendry, IanTreasury Secretary-designate Steven Mnuchin struck a pro-banking industry tone during testimony on Capitol Hill Thursday while tangling with lawmakers over foreclosures, offshore accounts and other issues.
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Trump Treasury Pick Mnuchin Opposes Recap and Release of Fannie Mae, Freddie Mac
HousingWire, Jan. 19, 2017--Lane, Ben"My comments were never that there should be recap and release," Mnuchin said. "For long periods of time, Fannie and Freddie were well run and did not create risk to the government. I believe there are very important entities."
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U.S. Economy Shows Strength on Eve of Trump Presidency
Reuters, Jan. 19, 2017--Mutikani, LuciaU.S. homebuilding rebounded sharply in December as a firming economy boosts demand for rental housing, while an unexpected drop in the number of Americans filing for unemployment benefits last week pointed to a further tightening in the labor market.
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Fidelity National Title Briefly Suspended in CA
Mortgage Daily, Jan. 19, 2017The title insurance unit of Fidelity National Financial Inc. was suspended in California, though the situation has since been rectified.
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Mortgage Business Diminishes at BB&T
Mortgage Daily, Jan. 19, 2017Quarterly home-lending volume at BB&T Corp. turned lower as the size of both the mortgage servicing and investment portfolio was reduced.
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Mortgage Rates Dip But Likely to Jump
Mortgage Daily, Jan. 19, 2017--Garcia, SamInterest rates on residential loans turned modestly lower over the past week. But the next report is likely to reflect a significant surge in rates.
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Mall Closures Ripple Through Small Town America
Wall Street Journal, Jan. 19, 2017--Fung, Esther; Maher, KrisSears and Macy's closings are a one-two punch for communities already battling retail flight and a changing economy.
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Residential Finance News
Commercial/Multifamily News
MBA News
Nominations Open for MBA Insights 2017 Tech All-Star Awards–Deadline Feb. 1
The Mortgage Bankers Association and MBA Insights are accepting nominations for the MBA Insights 2017 Tech All-Star Awards. Nominations will be accepted through Wednesday, Feb. 1.
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MBA Commercial/Multifamily Diversity & Inclusion Leadership Awards Nomination Deadline Today
MBA has created the Commercial/Multifamily Diversity & Inclusion Leadership Awards. Recipients will be recognized at the MBA Commercial Real Estate Finance/Multifamily Housing Convention & Expo, taking place Feb. 19-22 in San Diego. Nomination deadline is today, Friday, Jan. 20.
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MBA Foreclosure Fundamentals Webinar Jan. 26
MBA Education presents Foreclosure Fundamentals, an informative webinar, on Thursday, Jan. 26 from 2:00-3:30 p.m. ET.
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