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Volume 17 | Issue 152 | Tuesday, August 07, 2018

The Lede


MBA: July Mortgage Credit Availability Up

Mortgage credit availability increased in July, the fourth consecutive monthly increase, the Mortgage Bankers Association reported this morning.


Top National News

Treasury Urges Mortgage Sector to Embrace Digital Tech

National Mortgage News, Aug. 6. 2018--Hannah Long (subscription)
"My sense right now is that the industry is really at a tipping point in terms of adoption of digital mortgage or e-mortgage technologies," said Michael Fratantoni, chief economist for the Mortgage Bankers Association. "The technology is there, the industry desire is there, but there are some regulatory hurdles and the Treasury report identified some of them."

New FDIC Leader Joins Push to Re-Evaluate Banking Rulebook

Wall Street Journal, Aug. 6, 2017--Ryan Tracy (subscription)
Jelena McWilliams signals openness to revamping capital-requirement rules on investing in low-income areas.

CFPB's Regulatory Sandbox Isn't Just About Helping Fintechs

American Banker, Aug. 6, 2018--Kate Berry (subscription)
The Consumer Financial Protection Bureau is moving quickly on a fintech sandbox to remove the regulatory cloud from new firms, but the effort is about more than just fostering innovation.

Mortgage Startup Blend to Offer MetLife Policies With New Unit

Bloomberg, Aug. 6, 2018--Julie Verhage, Katherine Chiglinsky
The San Francisco-based company is launching Blend Insurance Agency. Much like its mortgage platform, the firm will leverage partnerships with large insurers to scale its business by pairing the offerings. One of those initial partners will be MetLife Inc., a U.S. insurer with more than $700 billion in assets.

Zillow Acquiring $1 Billion Mortgage Originator

Mortgage Daily, Aug. 6, 2018
On Monday, the Seattle-based organization announced that it has reached a definitive agreement to acquire Mortgage Lenders of America LLC.

The New Housing Crisis: Shut Out Of The Market

NPR, Aug. 6, 2018--Kirk Sigler
Ten years after the housing collapse during the Great Recession, a new and different housing crisis has emerged. Home values have rebounded, but people who want to buy a new home are often priced out of the market. There are too few homes and too many potential buyers.

North Dakota Seeks Waiver of Appraisal Requirements

Mortgage Daily, Aug. 6. 2018
A severe shortage of real estate appraisers has North Dakota officials making a request to waive appraisal reports, at least temporarily, on some residential loans. Banking regulators see the move as necessary.

Freddie Mac Looks to Cap Rent Increases With New Financing Program

Wall Street Journal, Aug. 7, 2018--Laura Kusisto (subscription)
The initiative acts similar to rent control-which has been gaining traction in many parts of the country-by keeping units in private hands and controlling the rate of rent increases. But it comes with less political baggage because it is voluntary.

Americans Say Buying Home is Most Stressful Event in Modern Life

HousingWire, Aug. 6, 2018--Kelsey Ramirez
Many Americans, about 40%, say buying a new home is the most stressful event in modern life, according to a survey of 2,000 Americans by Another 44% said they felt nervous throughout the home-buying process.

Residential Finance News

June Home Prices Up Nearly 7%; Affordability Seen as Biggest Hurdle

CoreLogic, Irvine, Calif., reported June home prices jumped by 6.8 percent from a year ago and by 0.7 percent from May, belying earlier reports suggesting home price growth had begun to decelerate.

55+ Housing Market Outlook Remains Positive

The National Association of Home Builders said builder confidence in the 55+ single-family housing market remains strong. In the second quarter of this year, the 55+ housing market index increased by one point to 67.

Commercial/Multifamily News

CMBS Supply-Demand Fundamentals Remain Stable

Commercial property market supply and demand fundamentals remained relatively stable in the first quarter, said Moody's Investors Service, New York.

Dealmaker: MetLife Investment Management Acquires Massachusetts Office for $97M

MetLife Investment Management, New York, acquired office building 89 A Street in Needham, Mass. for $96.5 million.

MBA News

MBA Risk Management/QA/Fraud Prevention Forum Sept. 23-25

The Mortgage Bankers Association's annual Risk Management, QA and Fraud Prevention Forum takes place Sept. 23-25 in Los Angeles.

MISMO Fall Summit Sept. 24-28

The MISMO Fall Summit takes place Sept. 24-28 at the Ritz-Carlton in Tyson's Corner, Va., just outside of Washington, D.C.

MBA Compliance Essentials Home Mortgage Disclosure Act Resource Guide Available

MBA Education and MBA Compliance Essentials announce availability of the Compliance Essentials Home Mortgage Disclosure Act Resource Guide.

MBA Compliance Essentials UDAAP & FTC MAP Rule Resource Guide Available

The MBA Compliance Essentials program offers a new Resource Guide: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) & FTC Mortgage Acts and Practices Advertising (MAP) Rule.

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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