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Volume 17 | Issue 162 | Tuesday, August 21, 2018

The Lede

 

MBA: Commercial/Multifamily Originations Up in Second Quarter, on Pace With Year Ago

Second-quarter commercial and multifamily mortgage loan originations came in 4 percent higher from a year ago and 32 percent higher than the first quarter, the Mortgage Bankers Association reported this morning.

 

Top National News

 
MBA: Second Quarter Foreclosure Starts at Lowest Level Since 1987

Mortgage Orb, Aug. 20, 2018--Patrick Barnard
The delinquency rate on one-to-four-unit residential properties fell to a seasonally adjusted rate of 4.36% as of the end of the second quarter, down 27 basis points from the 4.63% previous quarter, but up 12 basis points from 4.24% a year ago, according to the Mortgage Bankers Association.

Mortgage Bankers Cut 3-Yr Purchase Forecast

Mortgage Daily, Aug. 20, 2018
The Mortgage Bankers Association trimmed its third-quarter outlook from $449 billion in last month's report, while the first-quarter 2019 prediction was reduced from $332 billion.

Mel Watt Sued by Government Employee Alleging Sexual Harassment, Retaliation

Wall Street Journal, Aug. 20, 2018--Natalie Andrews (subscription)
A senior federal employee sued the director of the agency that oversees housing-finance giants Fannie Mae and Freddie Mac, accusing Mel Watt of denying her a raise and promotion after she rejected his sexual advances.

HUD Fair Housing Complaint Against Facebook Came Via a Rare Source

National Mortgage News, Aug. 20, 2018--Brad Finkelstein (subscription)
HUD's move, along with a separate statement of interest by the U.S. Attorney for the Southern District of New York in a case filed by fair housing advocates, indicated the practices allegedly continued even after Facebook reported disabling those features after their existence became common knowledge nearly two years earlier.

Judge Tosses Civil Rights Groups' Suit against HUD over Delaying Obama Fair Housing Effort

HousingWire, Aug. 20, 2018--Ben Lane
The rule in question, the Affirmatively Furthering Fair Housing rule, requires cities and towns that receive federal funding to examine local housing patterns for racial bias and design a plan to address any measurable bias.

Can State AGs Really Serve as 'Mini-CFPBs?'

American Banker, Aug. 20, 2018--Kate Berry (subscription)
Late last year, 17 state attorneys general pledged to fill the gap if Consumer Financial Protection Bureau slowed its enforcement activity under acting Director Mick Mulvaney. But their efforts to compensate for a less aggressive CFPB have so far been a mixed bag.

Still Hope for Break-Out in Home Sales Should Inventory Improve

National Mortgage News, Aug. 20, 2018--Elina Tarkazikis (subscription)
An improved economy, a healthy labor market and the large population of millennials should have accelerated home sales much higher, but all hope for more transactions this year is not yet lost.

Judgment Against RE Agent Impacts Mortgage Firms

Mortgage Daily, Aug. 20, 2018--Sam Garcia
A recent decision in a federal lawsuit has a real estate agent liable for negligently passing on fraudulent wiring instructions. The case has implications for mortgage lenders.

Commercial Mortgages: Combination of Good Fundamentals, Low Interest Rates and Excessive Capital Has Owners Taking It Easy

Richmond (Va.) Times-Dispatch, Aug. 20, 2018--Andrew Little
Different parts of the economy are conspiring to enable strong commercial real estate property fundamentals and happy landlords. Steady, increasing demand and supply constraints create good fundamentals in real estate as landlords can charge more for their units, buildings, rooms or spaces.

Residential Finance News

 
MBA August Economic and Mortgage Finance Commentary: Strong Economy, but Housing Market Falling Behind

The U.S. economy continues to forge ahead. GDP growth exceeded 4 percent in the second quarter, the strongest quarter since 2014 and the fifth consecutive quarter above 2 percent. The housing market, however, has not kept up with the strength of the broader economy.

Some Markets See Home Price Cuts

So much for home bidding wars.

Commercial/Multifamily News

 
HUD Aims to Boost Landlord Acceptance of Housing Vouchers

HUD on Monday announced a plan to encourage more apartment owners to participate in its Housing Choice Voucher program.

Dealmaker: Berkeley Point Capital Provides $67M

Berkeley Point Capital, Bethesda, Md. provided $67 million for multifamily communities in three states.

MBA News

 
mPowering You Summit for Women in Real Estate Finance in D.C. Oct. 13

mPowering You, the Mortgage Bankers Association's Summit for Women in Real Estate Finance, takes place Saturday, Oct. 13 at the Walter E. Washington Convention Center in Washington, D.C., ahead of the MBA Annual Convention & Expo.

Upcoming MBA Education School of Mortgage Banking II Courses

MBA Education presents its popular School of Mortgage Banking Course II this summer in Arlington, Va., and Dallas.

MBA Education Introduction to Mortgage Banking Sept. 11-25

MBA Education presents its popular Introduction to Mortgage Banking instructor-guided online course Sept. 11-25.

MBA Disaster Recovery Guide Now Available in Spanish

The Mortgage Bankers Association and the National Association of Hispanic Real Estate Professionals have developed a Spanish-language version of Disaster Recovery: A Resource for Homeowners, a consumer-facing informational guide.

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.