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Volume 15 | Issue 182 | Tuesday, September 20, 2016

The Lede

 

MBA: Commercial/Multifamily Debt Outstanding Reaches Record $2.9T

Commercial and multifamily mortgage debt outstanding increased by $39.9 billion in the second quarter as three of the four major investor groups increased their holdings, the Mortgage Bankers Association reported today.

 

Top National News

 
Lenders Have Adjusted to New Mortgage Rules: CFPB

National Mortgage News, Sept. 19, 2016--Collins, Brian

MBA President and Chief Executive David Stevens said that a lot of the CFPB rules required by the Dodd-Frank Act have been implemented. "They are working well. Homeownership is expanding," he said.

GSE Reform Should Follow Ginnie Mae Model: Tozer

National Mortgage News, Sept. 19, 2016--Sichelman, Lew

Next administration must act swiftly to move reform of Fannie Mae and Freddie Mac off dead center, and Ginnie Mae President Ted Tozer suggested that the model for a new secondary market is already in place.

Wells Fargo's John Stumpf Takes Center Stage at Senate

Wall Street Journal, Sept. 20, 2016--Borak, Donna; Carney, John

The Wells Fargo chief executive will testify before the Senate Banking Committee.

Fannie Raises Refi Forecast, Cuts Purchase

Mortgage Daily, Sept. 19, 2016

Q3 total mortgage production projected at $519 billion.

GSEs to Raise Conforming Loan Limits in 2017?

HousingWire, Sept. 19, 2016--Ramirez, Kelsey

FHFA housing price index at 2007 levels, which could trigger an increase.

U.S. Bancorp: Millennials Concerned they Can't Save for a Home

HousingWire, Sept. 19, 2016--Ramirez, Kelsey

Student debt will delay homebuying for more than five years for most.

Money Is Pouring Into Property Deals Banks Won't Touch

Bloomberg, Sept. 19, 2016--Mulholland, Sarah; Perlberg, Heather

Heightened commercial real estate lending scrutiny paves the way for lightly regulated investors to gain a bigger toehold in lucrative deals.

The Federal Reserve Confronts a Possibility it Never Expected: No Exit

Washington Post, Sept. 19, 2016--Mui, Ylan Q. 

Instead of executing its stimulus exit strategy--raise interest rates and shrink its balance sheet--the Federal Reserve is confronting the possibility that its temporary economic recovery measures will remain in place indefinitely.

S&P Real Estate Sector Rises in First Day of Trading

CNBC, Sept. 19, 2016--Imbert, Fred

There's a new sector in the closely followed S&P 500, and it's off to a good start.

Mortgage Rates: Why The Fed Won't Raise Interest Levels

OurBroker.Com, Sept. 19, 2016--Miller, Peter G.

On Wednesday the Fed will announce whether or not it will raise bank rates. Here's a clue: It won't.

Democratic and Republican Party Platforms Set Out Housing Policy

GoRion, Sept. 19, 2016--Curry, Kerry

The presidential candidates haven't said much about housing or mortgage finance on the campaign trail but housing has always been a fundamental plank of each party platform.

MBS Issuance at All-Time High at Ginnie Mae

Mortgage Daily, Sept. 19, 2016

$48.4 billion in MBS issuance during August.

PHH Mortgage to Lay Off 91 at Location in Amherst

Buffalo News, Sept. 19, 2016--Glynn, Matt

The cuts represent 31 perent of its workforce outside Buffalo.

Renting Still Cheaper Than Owning In Major U.S. Markets, Despite Low Mortgage Rates

The Street, Sept. 19, 2016--Morrissey, Janet

Average monthly cost of owning a home is 28% higher than renting in major U.S. markets, according to a report by Robert W. Baird & Co.

Xenith Bank to Quit Mortgage Business, Citing Compliance Costs

American Banker, Sept. 19, 2016--Kellard, Joseph

Will sell certain assets to Cornerstone Home Lending.

Holding Off: Why High-Mortgage-Rate Loans Aren't Being Refinanced

DSNews, Sept. 19, 2016--Honea, Brian

CoreLogic found that 41 percent of mortgages, representing 31 percent of the outstanding unpaid principal balance, have mortgage rates greater than 4.38 percent.

Residential Finance News

 
Q/A with Patricia Raymo of loanDepot

'Success requires teamwork, teamwork requires leadership and leadership requires confidence.'

RE/MAX: August Sales, Prices Up Steadily

Sales Up by Nearly 6%; Home Prices Up by 5.1%

Commercial/Multifamily News

 
Small-Cap Sales Dip, But Remain Strong

Year-to-Date Figure Challenges 2015's Record Sales Volume

Dealmaker: Boulder Group Arranges $16M Movie Theater Sale

Higher Yields Than Investment-Grade Retail Assets

MBA News

 
Join Red Sox Legends Jim Rice, Jason Varitek at MBA Annual Convention & Expo

Clara Shih Leads Special Session, 'Will Loan Officers Become Obsolete?'

MBA Education HMDA Implementation Workshop in Los Angeles Sept. 28

Held in Conjunction with MBA Risk Management/Quality Assurance Conference

MBA Premier Member Profile: Dart Appraisal

(One in a continuing series of Premier Members of the Mortgage Bankers Association.)

MBA Education Budgeting and Financial Planning for Non-Believers Sept. 21

Webinar Explores Importance of Budgeting in Mortgage Industry

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.