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Volume 17 | Issue 188 | Thursday, September 27, 2018

The Lede


MBA Report: 2Q Commercial/Multifamily Mortgage Debt Up $52.3 Billion

Commercial/multifamily mortgage debt outstanding increased by $52.3 billion in the second quarter as all four major investor groups increased their holdings, the Mortgage Bankers Association reported this morning.


Top National News

Mortgage Applications Rise 2.9% as Interest Rates Move Even Higher

CNBC, Sept. 26, 2018--Diana Olick
Total mortgage application volume rose 2.9 percent last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 15.5 percent lower than the same week one year ago, when interest rates were nearly a full percentage point lower.

CFPB Report on Data Collection is Silent on Threat of Breaches

National Mortgage News, Sept. 26, 2018--Kate Berry (subscription)
The Consumer Financial Protection Bureau this week issued a report and a request for information as part of an effort to assess the effectiveness of how data is collected, used and reused.

Fannie Mae Launches Challenge for Healthy Affordable Housing Solutions

Housing Wire, Sept. 26, 2018--Alcynna Lloyd
The Call for Ideas on Healthy Affordable Housing is an extension of the company's Innovation Challenge, which is a key component of Fannie Mae's Sustainable Communities Initiative.

Diversity and Inclusion is a Men's Issue, Too

American Banker, Sept. 26, 2018--LeeAnne B. Linderman (subscription)
Whether you call it "power" or "influence," men in our industry have the majority of "it." That is why men must own diversity and inclusion--and follow the examples of those who already do.

Caution: Potential Inverted Yield Curve Ahead

National Real Estate Investor, Sept. 26, 2018--Beth Mattson-Teig
This week's Federal Reserve Board meeting is once again shining a spotlight on rising interest rates and what has remained a stubbornly flat yield curve.

Freddie to Buy Shared Equity Mortgages

Mortgage Daily, Sept. 26, 2018
In an effort to support homeownership in low-to mid-income markets, Freddie Mac will join its secondary mortgage cousin in purchasing shared-equity mortgages.

Sen. Warren Introduces Housing Bill

Mortgage Daily, Sept. 26, 2018
Sen. Elizabeth Warren, D-Mass., introduced housing legislation she says will eliminate the housing supply shortage and create more than a million new jobs. The proposed law would be funded through higher taxes on wealthy families.

Sandler Law Group Buys Out McGlinchey Stafford Youngblood and Associates

HousingWire, Sept. 26, 2018--Jeremiah Jensen
Sandler Law Group, a Texas-based firm that specializes in residential mortgages and owner of Asurity Technologies, acquired McGlinchey Stafford & Youngblood and Associates, a closing and fulfillment services provider for the mortgage lending industry.

Residential Finance News

MBA, Trade Groups Ask Bureau to Change LO Compensation Rule

The Mortgage Bankers Association and nearly a dozen industry trade groups asked the Bureau of Consumer Financial Protection to change its Loan Originator Compensation Rule to better protect consumers and reduce lenders' regulatory burdens.

August New Home Sales Up 3.5%

New home sales rose by a modest 3.5 percent in August, tempered by downward revisions from the past three months, HUD and the Census Bureau reported yesterday.

Fed Raises Target Funds Rate to 2.25 Percent

The Federal Open Market Committee, as expected, voted to raise the federal funds rate to its highest level since August 2008.

Commercial/Multifamily News

Hotel Pipeline Reaches Record

The global hotel construction pipeline has never been larger and the U.S. has more properties in the pipeline than any other country, reported Lodging Econometrics, Portsmouth, N.H.

Dealmaker: Bellwether Enterprise Closes $29M for Multifamily

Bellwether Enterprise Real Estate Capital, Cleveland, closed $21.4 million in loans to preserve a five-property affordable multifamily portfolio totaling 370 units in the San Francisco Bay area.

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.

Call for Speakers: MBA Whole Loan Trading Workshop--Deadline Sept. 28

The Mortgage Bankers Association's Whole Loan Trading Workshop takes place in Houston on Thursday, Nov. 8. Interested speakers are encouraged to submit proposals by Friday, Sept. 28.

MBA Education Effective Internal Audit Function: Beyond the Basics Webinar Sept. 27

MBA Education presents a webinar, MBA Education Effective Internal Audit Function: Beyond the Basics, on Wednesday, Sept. 27 from 2:00-3:30 p.m. ET.

MBA Education Roadmap for Moving from Paper to Digital Webinars Oct. 2, Oct. 4

MBA Education offers an informative two-part webinar series, Roadmap for Moving from Paper to Digital, on Tuesday, Oct. 2 and Thursday, Oct. 4.

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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