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Volume 17 | Issue 132 | Tuesday, July 10, 2018

The Lede

 

RIHA Study Examines Link Between Parking, Real Estate

The Mortgage Bankers Association's Research Institute for Housing America released a new report that examines one of the most basic trends in real estate: land use. Specifically, parking.

 

Top National News

 
A Farewell to ARMs? Americans Still Shunning Adjustable-Rate Mortgages 10 Years After the Crisis

MarketWatch, July 9, 2018--Andrea Riquier
As the financial crisis gathered steam, Americans fled adjustable-rate mortgages. The share of all mortgage applications with floating rates sank below 1% in late 2008. A decade later, their share still remains low: 6% in early June, according to the Mortgage Bankers Association, versus an average of about 20% in the ten years before 2008.

More White Knuckles for Lenders as Flood Insurance Deadline Approaches

National Mortgage News, July 9, 2018--Hannah Long (subscription)
Congress has until July 31 to renew the program or risk a lapse in coverage, which would create a new round of headaches for lenders and real estate agents. Home sales in high-risk flood areas could stall, and policyholders would be unable to renew their insurance in the middle of hurricane season.

15 Surprising Real Estate Trends Impacting 2018

Forbes, July 9, 2018
Fifteen members of Forbes Real Estate Council share what real estate trends or market shifts they have been most surprised to see so far in 2018, from blockchain advancements to the return of co-ops, rising home prices and more.

Fannie's Take on Paying for PMI Seeks to Avoid 'Charter Creep' Criticism

National Mortgage News, July 10, 2018--Brad Finkelstein (subscription)
A Fannie Mae test to handle the private mortgage insurance process for lenders may raise concerns about charter creep, but the effort reflects its mandate to explore new credit-risk transfer alternatives.

Supreme Court Shuffle: 5 Possible Reverberations for Banks

American Banker, July 9, 2018--Kate Berry, Hannah Long (subscription)
A Supreme Court that moves even further to the right with the appointment of Judge Brett Kavanaugh could make the policy horizon even brighter for the financial services industry.

Mortgage Tech Enables Lenders to Close Without LO

Mortgage Daily, July 9, 2018
An enhancement to a widely used loan origination platform can enable a home lender to close a loan without a mortgage originator--though some clients require a human touch.

Rent Just Jumped to All-Time High

HousingWire, July 9, 2018--Ben Lane
Newly released data from RentCafé and Yardi Matrix shows that nationwide rents just hit a record high in June, crossing the $1,400 threshold for the first time ever.

Chicago Targets ‘Zombie Housing' for Renewal, Block by Block

U.S. News & World Report, July 9, 2018--Anne Marie Kukec
The city, nonprofit community groups, financial institutions and others are partnering to revitalize housing left behind in the foreclosure crisis.

Rental Scammer Ordered to Repay $5.2 Million to Deceived Customers

HousingWire, July 9, 2018--Ben Lane
According to the Federal Trade Commission, Michael Brown and his company, Credit Bureau Center, were found to have cheated consumers into signing up for ongoing credit monitoring services.

Tax Reform's Underrated Commercial Real Estate Impact Amid Residential Frenzy

Daily Business Review, July 9, 2018--Jaime Sturgis
Following the approval of the federal tax reform bill, much of the discussion has centered on the legislation's disproportionately negative impact on tax-heavy states and the anticipated influx of residents from those states relocating to tax-free states like Florida.

Residential Finance News

 
MBA: June Mortgage Credit Availability Up Again

Mortgage credit availability increased in June, continuing an upward trend over the past several months, the Mortgage Bankers Association reported this morning.

EscrowTab Earns MISMO Software Certification for Paperless Signing Technology

MISMO® announced EscrowTab, Inc., a provider of paperless closing technology, has received MISMO certification for its EscrowTab software product.

Mulvaney Taps Brian Johnson as Bureau Acting Deputy Director

It's been a busy few weeks at the Bureau of Consumer Financial Protection/Consumer Financial Protection Bureau, personnel-wise.

Despite Record Tappable Equity, Borrowing Hits 4-Year Low

Black Knight, Jacksonville, Fla., said despite record-setting levels of "tappable" equity growth in the first quarter, the share of total equity withdrawn by borrowers hit a four-year low.

Commercial/Multifamily News

 
Single-Tenant Net Lease Cap Rates Diverge

Single-tenant net lease property cap rate changes varied significantly by sector in the second quarter, new reports said.

Dealmaker: Fannie Mae Provides $26 Million LIHTC Investment Financing for Queens Development

Fannie Mae, Washington, D.C., announced a $26 million Low-Income Housing Tax Credit equity investment to facilitate construction of Far Rockaway Village, a 457-unit residential development in the Far Rockaway area of Queens, N.Y.

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.

MBA Education School of Loan Origination II Sept. 11-27

MBA Education presents its School of Loan Origination II instructor-guided online course from Sept. 11-27.

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 Servicing Workshop Aug. 8-9

MBA Education presents its Advance Servicing Workshop in Irving, Texas Aug. 8-9.

About MBA Newslink

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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 

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