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Volume 17 | Issue 193 | Thursday, October 04, 2018

The Lede


MBA Asks Treasury, IRS to Clarify Business Income Deduction Rules

The Mortgage Bankers this week urged the Treasury Department and the Internal Revenue Service to further clarify its rules governing qualified business income deductions under Section 199A of the Internal Revenue Code.


Top National News

Weekly Mortgage Applications Flatline, Along with Interest Rates

CNBC, Oct. 3, 2018--Diana Olick
Mortgage application volume last week sank 15 percent from last year but was unchanged from the previous week, according to the Mortgage Bankers Association.

More Americans Lying on Mortgage Applications

Fox Business, Oct. 3, 2018--Brittany De Lea
As many as one in 109 mortgage applications had indications of fraud in the second quarter, according to a new study from CoreLogic. That represents a more than 12 percent increase over the same quarter last year.

Senate Dems to Mulvaney: How Did Embattled Aide Get CFPB Job?

National Mortgage News, Oct. 3, 2018--Kate Berry, Rachel Witkowski (subscription)
Senate Democrats on Wednesday called for acting Consumer Financial Protection Bureau Director Mick Mulvaney to explain the vetting process that led to the hiring of a political appointee whose past incendiary writings have caused upheaval at the agency.

Judge Tosses Class Action Suit Against Zillow

HousingWire, Oct. 3, 2018--Jessica Guerin
U.S. District Judge John C. Coughenour tossed out the suit, stating that the investor plaintiffs, in their attempt to prove that Zillow knowingly violated the Real Estate Settlement Procedures Act, actually proved otherwise.

User Experience is Biggest Hindrance in Fight Against Mortgage Fraud

National Mortgage News, Oct. 3, 2018--Paul Centopani (subscription)
Seventy-one percent of financial services firms said customer expectations influence the methods they use to detect fraud, according to Transunion. However, many cyber securitizations lack real-time adjustments or result in poor user experience.

New Listings in September Up Eight Percent YoY

National Mortgage Professional, Oct. 3, 2018--Phil Hall
More than 465,000 new listings of homes for sale were posted in September, an eight percent year-over-year increase and the largest upturn in new listings since 2013, according to new data from

Bank HEL Delinquency Soars

Mortgage Daily, Oct. 4, 2018
Quarterly performance on bank-owned home-equity loans substantially deteriorated, an American Bankers Association report said.

Consumer Bankruptcies Drop from Month, Yr Earlier

Mortgage Daily, Oct. 3, 2018
A sharp drop in monthly consumer bankruptcy filings was complimented by a year-over-year improvement, the American Bankruptcy Institute reported.

Shopping-Mall Vacancies Are Highest in Seven Years After Big-Box Closings

Wall Street Journal, Oct. 3, 2018--Esther Fung (subscription)
Rising shopping-mall vacancies across the U.S. are driving down rents, signaling that many retail centers continue to struggle despite the country's strong economic growth and buoyant consumer confidence.

Residential Finance News

MBA, ACUMA Announce Education/Training Partnership

The Mortgage Bankers Association and the American Credit Union Mortgage Association announced a new education and training partnership that will offer members of ACUMA discounted access to MBA Education products.

FHFA Requests Input on GSE Proposed Duty to Serve Plan Modifications

The Federal Housing Finance Agency requested public input as part of the Agency's consideration of proposed modifications to Fannie Mae and Freddie Mac's 2018-2020 Underserved Markets Plans under the Duty to Serve program.

ATTOM: Home Affordability at Lowest Level in 10 Years

ATTOM Data Solutions, Irvine, Calif., said U.S. home prices in the third quarter were at the least affordable level since Q3 2008.

Commercial/Multifamily News

Flat Office Sector Defies Economic Growth

Defying employment growth trends, the U.S. office market vacancy rate remained flat in the third quarter at 16.6 percent, reported Reis, New York.

Dealmaker: HFF Arranges $215M for Office Assets

Holliday Fenoglio Fowler, Houston, arranged $215 million for office properties in Florida, California and Maryland.

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 Loan Origination II Oct. 30-Nov. 15

MBA Education offers its popular School of Loan Origination II instructor-guided online course from Oct. 30-Nov. 15.

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

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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