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Volume 15 | Issue 189 | Thursday, September 29, 2016

The Lede

 

A Bright, Predictable Line Between Underwriting, Credit Availability

LOS ANGELES--In the aftermath of the financial crisis and facing new regulatory requirements, mortgage lenders tightened underwriting standards. The results were seismic.

 

Top National News

 
Drop in Refinancing Pushes Mortgage Applications Lower by 0.7%

CNBC, Sept. 28, 2016--Olick, Diana 

"Refinance volume dipped for the week, but purchase application volume continues to show 2016 as a strong year," said Mortgage Bankers Association Chief Economist Michael Fratantoni.

Freddie Mac Launches New Front-End Risk Transfer Offering

National Mortgage Professional, Sept. 28, 2016

"Mortgage insurance offers a well-developed, scalable solution that would benefit consumers and is something that all lenders could use today," said Mortgage Bankers Association President and CEO David Stevens, CMB.

Best Month for Freddie's New Biz in Over 3 Years

Mortgage Daily, Sept. 28, 2016

August secondary activity totaled $45.9 billion.

New York Announces New Requirements for Maintenance of Zombie Homes

Housing Wire, Sept. 28, 2016--Lane, Ben

New regulation will hold lenders and mortgage servicers "accountable."

Credit Suisse, Barclays Said to Be in Mortgage-Settlement Talks

Bloomberg, Sept. 28, 2016--McLaughlin, David; Schoenberg, Tom

Deutsche Bank AG isn't the only lender wrestling with the U.S. to resolve an investigation into toxic mortgage bonds: Credit Suisse Group AG and Barclays Plc are also each in settlement talks with the Justice Department.

Ditech Settles Charges of Borrower Harassment

Mortgage Daily, Sept. 28, 2016

Walter Investment Management Corp.'s mortgage banking subsidiary has agreed to settle charges that it harassed delinquent Massachusetts borrowers for four years.

Justice Dept. to Banks: Cooperate in Civil Investigations--Or Else

National Mortgage News, Sept. 28, 2016--Berry, Kate

Banks now expected to "materially assist" the agency in providing documents, access to witnesses and even inculpatory documentary evidence such as emails and text messages.

Don't Look Now, But Banks Are Offering Mortgages Again

MarketWatch, Sept. 28, 2016--Riquer, Andrea

Urban Institute data show banks are making more mortgage loans.

The Fatal Price Tag of Not Investing in Digital Innovations for Millennials

HousingWire, Sept 28, 2016--Swanson, Brena

If banks choose not to invest, they risk losing the next generationof consumers. 

European Banks and the Great Mortgage Settlement Game

Wall Street Journal, Sept. 28, 2016--Davies, Paul

Credit Suisse has the least wiggle room and will be watching outcome of Deutsche Bank's mortgage case closely.

Fewer Students Are Defaulting On Loans After Leaving College

Wall Street Journal, Sept. 28, 2016--Mitchell, Josh

But figure remains high despite solid labor market.

Wave of Mortgage LOS Integrations

Mortgage Daily, Sept. 28, 2016--Garcia, Sam

Integrations promise to make access to products easier.

Crowdfunded REITs Gain Momentum

National Real Estate Investor, Sept. 28, 2016--Mattson-Teig, Beth  

Crowdfunding firms are stepping into the REIT space to make a bigger play for commercial real estate investor capital.

California's Housing Shortage Will Hamper the Economy, Reports Say

Los Angeles Times, Sept. 28, 2016--Kitroeff, Natalie 

California's lackof housing will slow the state's economic growth, two new studies say.

U.S. Core Capital Goods Orders Rise for Third Straight Month

Reuters, Sept. 28, 2016--Mutikani, Lucia

'Positive signal' for business investment outlook. 

Residential Finance News

 
FHFA: Fannie Mae, Freddie Mac Seriously Delinquent Rate Lowest Since 2008

3.7 Million GSE Foreclosure Prevention Actions Since 2008

Commercial/Multifamily News

 
KBRA: CMBS Loan Defaults Continue Decline

'Tide May Be Turning for Future Resolutions'

Dealmaker: Douglas Emmett Pays $140M For Santa Monica Office Building

Joint Venture With Institutional Investors Including Qatar Investment Authority

MBA News

 
CREF Returns to San Diego Feb. 19-22

Four Days of Networking, Relationship-Building, Dealmaking

Mortgage Action Alliance Action Week Begins Oct. 3

Goal to Increase Mortgage Action Alliance Membership to 15,000  

MBA Education Fundamentals and Best Practices in Mortgage Accounting Workshop Nov. 15

Held in Conjunction with MBA Accounting & Financial Management Conference

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.