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Volume 16 | Issue 169 | Friday, September 01, 2017

The Lede

 

Pending Home Sales Stumble Again

Pending home sales stumbled again in July, the fourth decline in the past five months, the National Association of Realtors said yesterday.

 

Residential Finance News

 
Buzzworthy with Ann Fulmer: Risk Management, Borrower Liens and Judgments

Lien and judgment data are important, because it reflects on a borrower's character as well as his or her propensity and ability to pay. If that's true, then why aren't the bureaus reporting that data anymore?

MBA Offices Closed Today, Monday

Mortgage Bankers Association offices will be closed this Friday, Sept. 1 and Monday, Sept. 4 in observance of the Labor Day weekend.

Residential Briefs

HUD said it will speed federal disaster assistance to Texas and provide support to homeowners and low-income renters forced from their homes due to Hurricane Harvey.

Commercial/Multifamily News

 
Hurricane Harvey Brings Uncertainty to Texas CRE

Hurricane Harvey has been downgraded to a tropical depression, but Texas commercial real estate will feel the storm's effects for a long time to come, analysts say.

Dealmaker: Newmark Arranges $52M for Retail, Office, Multifamily Assets

Newmark, San Francisco, arranged $52 million in financing for retail, office and multifamily properties in Arizona and Washington.

MBA News

 
MISMO Seeks Nominations for Standards Governance Committee

MISMO seeks nominations of qualified industry professionals to serve on its Standards Governance Committees for two-year terms beginning in January.

MBA Risk Management, QA & Fraud Prevention Forum in Miami Sept. 24-26

The Mortgage Bankers Association's Risk Management, Quality Assurance and Fraud Prevention Forum takes place Sept. 24-26 at the InterContinental Miami.

MBA 2017 Human Resources Symposium Sept. 14-15

The Mortgage Bankers Association's annual Human Resources Symposium takes place Sept. 14-15 at the Residence Inn Arlington Capital View in Arlington, Va. (Washington, D.C.)

MBA Accounting/Financial Management Conference Nov. 13-15

The Mortgage Bankers Association's Accounting/Financial Management Conference 2017 takes place Nov. 13-15 at the Grand Hyatt San Antonio.

Top National News

 
5 Ways Servicers are Helping Homeowners Affected by Harvey

National Mortgage News, Aug. 31, 2017--Elina Tarkazikis (free article)
As Hurricane Harvey continues to wreak havoc in Texas and Louisiana, servicers and other mortgage industry resources stand at the ready to help displaced homeowners. (MBA mention)

MBA: The Cost to Produce a Mortgage Falls Closer to Historic Lows

HousingWire, Aug. 31, 2017--Brena Swanson
Business started to pick up moving into the busy spring home buying season, the Mortgage Bankers Association's latest Quarterly Mortgage Bankers Performance report found.

Read This Before Getting a Reverse Mortgage

MarketWatch, Aug. 31, 2017--Jacob Passy
HUD announced on Tuesday that it will makes changes to the reverse-mortgage program to reduce the risk the program presents to the government and taxpayers. "This is a statement that the program is important," said David Stevens, president and CEO of the Mortgage Bankers Association. "For certain seniors, it's their only option."

Mortgage Rates Continue their Four-Month Slide

Washington Post, Aug. 31, 2017--Kathy Orton
"Rates remained low last week as tension between North Korea and the global community continued to mount, fueling a flight to quality and keeping investors in safer U.S. Treasuries," said Joel Kan, MBA economist.

How the Mortgage Interest Deduction Could be Cut in Tax Reform

CNNMoney, Aug. 31, 2017--Jeanne Sahadi
Tax writers are looking to replace some of the revenue they'd lose from the trillions in tax cuts they want to make. And the mortgage deduction is one of the most expensive tax breaks on the books, estimated to cost more than $80 billion a year in the next decade.

Mnuchin Says Trump Administration, Congress to Release Tax Plan Details in Coming Weeks

Wall Street Journal, Aug. 31, 2017--Richard Rubin (subscription)
The Trump administration and top congressional officials intend to release a more detailed tax plan in the next few weeks, Treasury Secretary Steven Mnuchin said in an interview.

Wells Opened Far More Fake Accounts than Originally Estimated

American Banker, Aug. 31, 2017--Kate Berry (subscription)
Wells Fargo said Thursday that employees opened 3.5 million potentially unauthorized consumer accounts over a nearly eight-year period, a 67% increase from its earlier estimate.

Fannie's Delinquency Drops to New Post-Crisis Low

Mortgage Daily, Sept. 1, 2017
Serious delinquency at Fannie Mae fell to the lowest level in the past decade. New business maintained.

CFPB Sets Loan Limits for High-Cost Mortgages

National Mortgage News, Aug. 31, 2017--Elina Tarkazikis (subscription)
The Home Ownership Equity Protection Act loan threshold rose slightly to $21,032, from $20,579. The adjusted points and fees dollar trigger for high-cost mortgages in 2018 will be $1,052, up from $1,029, according to a final rule filed in the Federal Register this week.

Senior Federal Home Loan Bank Execs Indicted

Mortgage Daily, Aug. 31, 2017
Senior executives of the Federal Home Loan Bank of Dallas have been indicted for using funds from the organization to pay for personal expenses.

NYDFS Cybersecurity Rules Now in Effect for Financial Institutions

HousingWire, Aug. 31, 2017--Brena Swanson
The New York Department of Financial Services reminded financial institutions that the first compliance date of New York's cybersecurity regulation was on Aug. 28.

New 2017 Low for Mortgage Rates, Could Go Lower

Mortgage Daily, Aug. 31, 2017--Sam Garcia
Interest rates on single-family loans this past week fell to the lowest level since last year, and the next report could see a similar decline.

About MBA Newslink

President and CEO: David H. Stevens, 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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