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Volume 17 | Issue 137 | Tuesday, July 17, 2018

The Lede


The 'Coming Exodus' of Older Homeowners

The Baby Boom generation (1946-1964) has an enormous housing market footprint, inhabiting 32 million owner-occupied homes and accounting for two out of five homeowners in the United States with an estimated value of $13.5 trillion. And when they decide to divest, said Fannie Mae, Washington, D.C., the impact could spur fears of a "bursting generational housing bubble."


Top National News

As CRE Lending Landscape Shifts, Nonbank Lenders Step Up

Forbes, July 16, 2018--Evan Gentry
Even though CRE loans celebrated a record-breaking year in 2017, according to a Mortgage Bankers Association report, the CRE market also started to see slowing property value growth and decelerating property sales.

Real Estate Pros are a Diverse Bunch, Let's Find More

Mortgage Professional America, July 16, 2018--Steve Randall
Career Building Communities is a collaboration of 29 real estate organizations, representing more than 10 million jobs, with the mission to highlight diverse career paths available in the industry. The Mortgage Bankers Association is among those who have joined the initiative.

BofA Earnings, Mortgage Originations Up

Mortgage Daily, July 16, 2018
Quarterly earnings were stronger at Bank of America Corp. as originations improved. The payroll expanded, and the residential and commercial mortgage portfolios grew.

Waters, Hensarling Put Forth Massive Bipartisan Economic Growth Bill

HousingWire, July 16, 2018--Kelsey Ramirez
The enormous bipartisan push for the legislative package, known as the JOBS and Investor Confidence Act of 2018, is made up of 32 individual pieces of legislation that have passed the committee or House this congressional session with broad bipartisan and sometimes even unanimous support.

Fed's Powell Has Some Explaining to Do on Stress Test Moves

American Banker, July 16, 2018--Victoria Finkle (subscription)
When Federal Reserve Chairman Jerome Powell faces lawmakers this week, one big question will almost certainly be: Is the central bank playing favorites among the big banks?

Mortgages Matter More than Jobs to Voters

MarketWatch, July 16, 2017--Andrea Riquier
In "Mortgage Market Credit Conditions and U.S. Presidential Elections," Alexis Antoniades of Georgetown University and Charles W. Calomiris of Columbia University show that changes in the availability of mortgage credit affect voting patterns in presidential elections. In turn, that influences politicians' behavior.

Monthly Issuance Rises at Ginnie Mae

Mortgage Daily, July 16, 2018
Issuance of Ginnie Mae mortgage-backed securities amounted to $36.999 billion during June, according to data released Monday by the government-owned organization.

The Business Case for Sustainability in Commercial Real Estate

National Real Estate Investor, July 16, 2018--Sofya Shuster
The importance of sustainability in commercial real estate as a growth engine is now recognized by market participants both on the equity and on the debt side.

Residential Finance News

Genworth: Rising Rates, Alternative Mortgage Products Biggest Market Challenges

Genworth Mortgage Insurance, Richmond, Va., said a survey of mortgage professionals at this spring's Mortgage Bankers Association National Secondary Market Conference & Expo cited rising mortgage rates the re-emergence of alternative mortgage products as biggest challenges facing the mortgage market this year.

Residential Briefs

Ginnie Mae, Washington, D.C., said issuance of its mortgage-backed securities totaled $37 billion in June.

Commercial/Multifamily News

Hotel Rates, Bookings Continue to Grow

North American hotel owners continued to experience "significant" growth across all travel segments in the second quarter, reported TravelClick, New York.

Dealmaker: Passco Cos. Acquires Fla. Multifamily Community for $70M

Passco Cos. Irvine, Calif., acquired multifamily community The Point at Tamaya in Jacksonville, Fla., from Waypoint Residential, Boca Raton, Fla. and Rohdie Management, New York, for $70 million.

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.

MBA Diversity & Inclusion Awards Entry Deadline July 27

The Mortgage Bankers Association is accepting nominations for its annual residential Diversity and Inclusion Awards, to be presented at the MBA Annual Convention & Expo in October. Nomination deadline is Friday, July 27.

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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