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SUBSCRIBE ? Volume 12 | Issue 11 | Wednesday, January 16, 2013
The Lede
Mortgage Applications Continue Early-Year Surge
Mortgage applications, boosted by stable low interest rates, surged for a second straight week to start the new year, the Mortgage Bankers Association reported this morning in its Weekly Applications Survey for the week ending Jan. 11.
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Top National News

Residential Finance News

Commercial/Multifamily News

MBA News

Article Abstracts

Top National News

Recovery in U.S. Saving 8 Million Underwater Homeowners
Bloomberg, Jan. 15, 2013--Perlberg, Heather
JPMorgan Chase & Co. said number of underwater borrowers fell by nearly 4 million last year.

FDIC Gives More Time on Appraisal Rules for High-Risk Loans
Housing Wire, Jan. 15, 2013--Hamilton, Jesse
Agency gives U.S. mortgage lenders additional years to implement new standards.
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Fitch Warns on U.S. Downgrade
Wall Street Journal, Jan. 15, 2013--Neumann, Jeannette
Ratings agency warns that failure to resolve debt issues could result in U.S. downgrade.
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Consumer Borrowing Will Rise in Next Six Months: Survey
American Banker, Jan. 15, 2013--Kline, Alan
Survey of risk managers suggests consumers ready to increase borrowing.
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Mortgages Push the 4Q National Credit Default Rate Up
National Mortgage News, Jan. 15, 2013--Dymi, Amilda
December National Consumer Credit Default Indices up by eight basis points.
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New York Manufacturing Remains in a Funk, Jan. 15, 2013
Empire State Manufacturing Survey falls for sixth consecutive month.

Residential Finance News

Producer Price Index Shows December Decline
The Producer Price Index for finished goods declined by 0.2 percent in December, the third consecutive drop, the Bureau of Labor Statistics reported yesterday.
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MBA Members-Only Conference Call on QM Today at Noon
The Mortgage Bankers Association will host a special Members-Only Conference Call, First Look at the New QM Rule, today, Jan. 16 from noon-1:30 p.m. ET.
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Stevens to Speak at Exchequer Club Today
Mortgage Bankers Association President and CEO David Stevens will address the Washington Exchequer Club this afternoon.
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Commercial/Multifamily News

Single-Tenant Net Lease Cap Rates Remain Near Record Lows
Cap rates for the single-tenant net leased market remained near historic lows across the retail, office and industrial sectors in the fourth quarter, reported The Boulder Group, Northbrook, Ill.
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Dealmaker of the Day
Meridian Capital Group, New York, negotiated $33.6 million in financing for apartment properties in Manhattan, Brooklyn and Queens, N.Y.
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MBA News

MBA National Mortgage Servicing Conference/Expo Feb. 19-22
The Mortgage Bankers Association's National Mortgage Servicing Conference & Expo 2013 takes place Feb. 19-22 at the Gaylord Texan in Dallas.
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CampusMBA Advanced School of Mortgage Servicing Mar. 20-22
Manage a more profitable, compliant and higher-performing organization. Elevate your servicing operation with CampusMBA's NEW Advanced School of Mortgage Servicing March 20-22 in Dallas.
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Research Institute for Housing America, MBA's Think Tank
Research Institute for Housing America is a 501(c)(3) trust fund sponsored by the Mortgage Bankers Association. Its chief purpose is to encourage and aid the pursuit of knowledge of mortgage markets and real estate finance.
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"Core assets with investment-grade tenants will remain in the highest demand, retaining low cap rates for these assets. Cap rates will remain near current levels in 2013 as buyer demand remains high and new development remains limited."
--John Feeney, research director with The Boulder Group, Northbrook, Ill.

About MBA NewsLink
Publisher: Marcia Davies, Senior Vice President, External Relations and Chief of Staff
Editor: Mike Sorohan 202/557-2855
Editorial Director: Michael Tucker 202/557-2851
Advertising Opportunities: Bill Farmakis 203/834-8832
David H. Stevens, President and CEO, Mortgage Bankers Association

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