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Volume 17 | Issue 26 | Thursday, June 27, 2019

The Lede

 

MBA Urges Long-Term Extension of TRIA

Although the Terrorism Risk Insurance Act--which provides a valuable federal backstop to insurance claims involving terrorism acts--is not set to expire until December 2020, the Senate Banking Committee is bringing up its reauthorization well ahead of time, an action the Mortgage Bankers Association welcomes.

 

Top National News

 
MBA Launches Affordable Housing Initiative

The Title Report, June 25, 2019
The Mortgage Bankers Association recently launched an initiative to promote more sustainable, affordable homes for purchase and rental. "The lack of affordable housing is presenting significant challenges to families across the country," MBA President and CEO Robert Broeksmit, CMB, said. "We need to explore how the lending community can better partner with public, private and non-profit stakeholders to ensure more Americans have access to homes they can afford."

CMBS: A Market That Has A Deeper Role Than The Numbers Indicate

Trepp, June 25, 2019--Jamie Woodwell
The CMBS market is the most transparent part of the $3.4 trillion commercial and multifamily mortgage industries. In addition to easy access to detailed bond, loan and property information, a dedicated group of CMBS analysts at Wall Street shops, rating agencies, private companies and--dare I say--trade groups offers sophisticated insights into every twist and turn of the market.

New York Landlords in a Financial Bind From New Rent Law

Wall Street Journal, June 24, 2019--Will Parker; Konrad Putzier (subscription)
Property investors have spent billions of dollars on apartment buildings for what has been one of the most reliably profitable bets in New York City real estate: converting rent-regulated apartments to market-rate units. But New York's new rent law may cause financial stress for the companies that own these buildings.

Situs Group Merges with American Mortgage Consultants

HousingWire, June 20, 2019--Jessica Guerin
The merged enterprise will rebrand as SitusAMC and offer services and tech services to commercial and residential real estate firms.

Where GSE Reform Could Be Headed and What It Could Mean for Lenders

National Mortgage News, June 19, 2019--Bonnie Sinnock (subscription)
Since becoming Federal Housing Finance Agency director, Mark Calabria has sent ever clearer signals that the White House is prepared to take unilateral action that would at least start Fannie Mae and Freddie Mac back on the path to private-sector ownership.

Dealmaker of the Week

 
Greystone Arranges $415M for Hudson Yards Development

Greystone, New York, arranged a $415 million construction loan for Douglaston Development's 931-unit mixed-use residential development at 601 W. 29th Street on Manhattan's Far West Side.

People in the News

 
Walker & Dunlop Grows Atlanta Property Sales Team

Walker & Dunlop, Bethesda, Md., hired Kyle Palmer as Senior Vice President and Managing Director of Walker & Dunlop Investment Sales.

News and Trends

 
MBA Offices Closed July 4 and 5

MBA offices will be closed on July 4 and 5 in observance of the Independence Day holiday. MBA Commercial/Multifamily NewsLink will publish on Wednesday, July 3 instead. The daily MBA NewsLink issue will publish as usual on Friday, July 5.

MBA Chart of the Week: Housing Market Vacancy Rates

According to Census statistics, the U.S. added 1.5 million households during 2018 but built fewer than 1.2 million new housing units. The result is a tightening inventory--not just of homes for sale, but of homes available to occupy.

RCLCO: CRE Market Sentiment Slipping

CRE executives' market sentiment has decreased since last summer and is likely to continue to slip, said RCLCO, Washington, D.C.

Searching for a Solution to Rental Affordability Challenges

The Harvard University Joint Center for Housing Studies' State of the Nation's Housing report said overall rents rose at a 3.6 percent annual rate in early 2019, twice the pace of overall inflation.

April Single-Family Rents Up 3%

CoreLogic, Irvine, Calif., said low rental home inventory relative to demand fueled growth of single-family rent prices in April.

U.S. Hotel Forecast Downgraded

U.S. hotel sector growth is likely to slow this year and next, STR and Tourism Economics said.

Commercial/Multifamily Briefs

Private equity firm Welsh, Carson, Anderson & Stowe agreed to acquire data provider Green Street Advisors from Golden Gate Capital.

MBA News

 
MBA Education Webinar: Expect the Best, Prepare for the Worst: CRE Loan Workouts 101 Aug. 14

Join MBA Education August 14th from 2:00-3:30PM ET for a webinar that explores the topic of commercial mortgage loan workouts by convening subject matter experts from Trimont Real Estate Advisors, CW Capital, Fitch Ratings, Rialto and PGIM.

Apply Now for MBA Education Commercial/Multifamily Future Leaders Program

The MBA Education Future Leaders Program is an executive leadership development program that delivers a comprehensive curriculum for selected managers who have shown leadership interests and abilities.

MBA Expands Path to Diversity Scholarship Program Eligibility to Select Conferences

The Mortgage Bankers Association announced that scholarships awarded under its popular Path to Diversity (P2D) Scholarship Program can now also be used towards six upcoming MBA conferences where attendees can obtain Continuing Professional Education (CPE), Continuing Legal Education (CLE) or Society of Human Resource Management (SHRM) credits. The scholarships were previously only available for courses offered by MBA Education.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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One Voice. One Vision. One Resource. The Mortgage Bankers Association (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.