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Volume 17 | Issue 155 | Friday, August 10, 2018

The Lede


ATTOM: 1 in 10 U.S. Properties Remain ‘Seriously Underwater'

ATTOM Data Solutions, Irvine, Calif., reported 5.5 million U.S. properties as "seriously underwater" in the second quarter, representing 10.1 percent of all properties with a mortgage.


Top National News

Mortgage Rates Dip After a Weak Jobs Report

Washington Post, Aug. 9, 2018--Kathy Orton
Mortgage rates retreated this week after weaker-than-expected employment data. The Mortgage Bankers Association reported mortgage applications fell.

Mortgage Applications Rise for New Homes

Scotsman Guide, Aug. 9, 2018--Victor Whitman
Mortgage applications for new-home purchases rose through the month of July and were running ahead of the pace of last year, the Mortgage Bankers Association reported.

Ditech Lost $40.5M in First Full Period after Bankruptcy

National Mortgage News, Aug. 9, 2018--Brad Finkelstein (subscription)
"Our second-quarter performance did not meet our expectations, and we are continuing to take actions that we believe will help the company return to sustained profitability," said Tom Marano, who assumed the CEO and president roles after Ditech exited Chapter 11.

Fannie Mae Warns of Raft of Fake Employers Being Used on Borrowers' Mortgages

HousingWire, Aug. 9, 2018--Ben Lane
The government-sponsored enterprise issued a new warning this week, identifying 10 new purported employers that do not seem to actually exist.

Who's on First? The Confusing State of Federal Fintech Regulation

American Banker, Aug. 9, 2018--Rachel Witkowski (subscription)
Federal agencies have recently rolled out a series of efforts aimed at collaborating more on fintech regulation, but one key question remains: who is taking the lead?

Luxury Housing Market Continues to Sizzle

National Mortgaage Professional, Aug. 9, 2018--Phil Hall
Luxury home sales recorded double-digit annualized gains in 19 markets during July as the number of sales at or above the $1 million mark spiked by 13 percent from one year ago.

Biggest Players in Real Estate Appraisals

Mortgage Daily, Aug. 9, 2018
During the past five years, the nation's real estate appraisal market has been on a declining trend. Behind the trend are increased regulations.

Mortgage Originations Up at Finance of America

Mortgage Daily, Aug. 9, 2018
New quarterly mortgage business was better at Finance of America Holdings LLC. But the size of the company's servicing portfolio and staff was down.

Redfin Doubling Down on Direct Home Buying, Plans Expansion of Redfin Now

HousingWire, Aug. 9, 2018--Ben Lane
The company said that its direct buying program saw "outstanding" growth in the second quarter, but, as of now, the program is just a drop in the overall housing market bucket.

'There Isn't Enough of Anyone' Recruiters Say of Hiring for CRE Positions

National Real Estate Investor, Aug. 9, 2018--Mary Diduch
As the unemployment rate remains extremely low, commercial real estate companies are eager to add experienced employees--if only they can find them.

Residential Finance News

MBANow: MBA Chief Economist Mike Fratantoni on Mortgage Industry Outlook

The Mortgage Bankers Association released a new MBANow video featuring MBA Chief Economist Mike Fratantoni, who discusses rising interest rates and the lack of housing inventory whilst giving us his outlook for the mortgage industry thru 2018.

More Cities Join $1 Million Median Home Value Rankings

A fairly exclusive club is about to get bigger, and although home buyers probably won't like it, jumbo mortgage lenders probably will.

Boomers, Millennials Trigger Geographic Shifts

Trulia, San Francisco, says as baby boomers enter their golden years and Millennials move up in the workforce, a great geographic demographic shift is taking place in the U.S., with clear preferences as to where they and others go to live.

Commercial/Multifamily News

Office Supply-and-Demand Dynamics Change

Changing supply-and-demand dynamics will take center stage in the office market in late 2018 and into 2019, said JLL, Chicago.

Dealmaker: NorthMarq Capital Secures $62M for Multifamily

NorthMarq Capital, Minneapolis, secured $62.3 million for multifamily assets in Washington and Wisconsin.

MBA News

Kelly Clarkson Highlights ConcertMBA at MBA Annual Convention & Expo

ConcertMBA at the Mortgage Bankers Association 2018 Annual Convention & Expo this year features award-winning singer and songwriter Kelly Clarkson.

MBA Education School of Mortgage Banking Course III Sept. 18-21 in Washington

MBA Education presents its School of Mortgage Banking Course III, Sept. 18-21 at MBA headquarters in Washington, D.C.

MBA Education Advanced Risk Management Concepts Workshop Sept. 23

MBA Education presents a special Advanced Risk Management Concepts Workshop on Sept. 23 at the JW Marriott L.A. Live in Los Angeles in conjunction with the MBA Risk Management & Quality Assurance Forum.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan 202/557-2855 

Editorial Director: Michael Tucker 202/557-2851 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856

Advertising Opportunities: Bill Farmakis 203/834-8832

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