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SUBSCRIBE ? Volume 12 | Issue 39 | Wednesday, February 27, 2013
The Lede
MBA Letter Asks CFPB for Clarification on QM Rule
The Mortgage Bankers Association sent a letter this week to the Consumer Financial Protection Bureau, providing additional comments on the points and fees calculations in the Ability to Repay/Qualified Mortgage rule and asking for further clarification on several items contained in the rule.
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Top National News

Residential Finance News

Commercial/Multifamily News

MBA News

Article Abstracts

Top National News

Ben Bernanke: Find Sequester Alternative
Politico, Feb. 26, 2013--Kim, Seung Min
Federal Reserve chairman warns lawmakers that sequestration would place "significant" burden on economy.
(More)

JPMorgan Mortgage, Community Units to Lose 19,000 Jobs
Bloomberg Businessweek, Feb. 26, 2013--Kopecki, Dawn
The lender wil cut up to 15,000 jobs from its mortgage unit through 2014.
(More)

Hensarling Resumes Attack on Dodd-Frank, CFPB
American Banker, Feb. 26, 2013--Finkle, Victoria
House Financial Services Committee chairman had harsh words for law, agency during speech at credit union conference.
(More) (subscription required)

Bank Profits Jump as Bad Loans Shrink
Wall Street Journal, Feb. 26, 2013--Crittendon, Michael
Federal Deposit Insurance Corp. said banks' fourth quarter income up 37 percent from a year ago.
(More) (subscription required)

Senate Panel Backs Treasury Choice
New York Times, Feb. 26, 2013--Lowrey, Annie
Senate Finance Committee moves nomination of Jacob Lew to full Senate for confirmation vote.
(More)


Residential Finance News

'REO to Rental' Draws Investors Back into Real Estate
DALLAS--Since peaking at 69 percent in 2006, the U.S. homeownership rate has fallen to its current 65.4 percent. That's a lot of former homeowners.
Full Story

Government Agencies, GSEs Seek Alignment with Servicers
DALLAS--"No one here needs to be told that there's been a paradigm shift in the servicing industry over the past few years," said Pete Mills, senior vice president of residential policy and member services with the Mortgage Bankers Association. "You've been seeing it and living it."
Full Story

Mortgage Applications Down Again in MBA Weekly Survey
Mortgage applications fell for the third consecutive week and for the sixth time in eight weeks since the new year, the Mortgage Bankers Association reported this morning in its Weekly Applications Survey for the week ending Feb. 22.
Full Story

New Home Sales Start Year Strong; Consumer Confidence Rebounds
New single-family houses hit the year running in January, the Census Bureau and HUD reported yesterday.
Full Story


Commercial/Multifamily News

Office Property Price Gap to Narrow and Other Trends: CBRE
The pricing gap between suburban office assets and downtown properties will narrow in 2013, said CBRE Econometric Advisors, Boston.
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Dealmaker of the Day
Apollo Commercial Real Estate Finance, New York, closed two mezzanine financing transactions totaling $43 million in New York and Rochester, Minn.
Full Story


MBA News

MBA Launches Compliance Essentials Series
The Mortgage Bankers Association launched of a new compliance program to help companies in the mortgage finance industry navigate their businesses through new compliance rules recently released by the Consumer Financial Protection Bureau.
Full Story

MBA National Fraud Issues Conference Apr. 14-17
The Mortgage Bankers Association's National Fraud Issues Conference takes place Apr. 14-17 at the Westin Diplomat in Hollywood/Fort Lauderdale, Fla.
Full Story

MBA Opens Doors Foundation Helps Needy Families
The Mortgage Bankers Association and its member organizations have created the MBA Opens Doors Foundation to sponsor philanthropic activities focused on homeownership and community support.
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Stat




Quote

"Without the REO to rental market, the entire housing market would be so much worse now."
--Laurie Hawkes, president of American Residential Properties, Scottsdale, Ariz.

About MBA NewsLink
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Editor: Mike Sorohan 202/557-2855
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David H. Stevens, President and CEO, Mortgage Bankers Association

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