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Volume 17 | Issue 176 | Tuesday, September 11, 2018

The Lede

 

MBA: August Mortgage Credit Availability Falls

Mortgage credit availability fell in August for the first time in four months, the Mortgage Bankers Association reported this morning.

 

Top National News

 
Three Reasons to Worry About the Housing Market

CBS News, Sept. 10, 2018--Anthony Mirhaydari
Storm clouds are gathering in the housing market as the Federal Reserve pushes interest rates higher, part of its ongoing fight to keep a lid on inflation. Higher rates weigh on home affordability and thus depress demand.

Can We Survive the Next Financial Crisis?

Bloomberg, Sept. 10, 2018--Yalman Onaran
A decade later, amid signs of new asset bubbles, a big question is whether the steps taken after the crisis have made that system strong enough to withstand the next shock.

House Republicans Unveil Plan to Make Individuals' Tax Cuts Permanent

Wall Street Journal, Sept. 10, 2018--Siobhan Hughes, Ann Tergesen (subscription)
House Republicans have introduced legislation to lock in cuts to individual tax rates beyond 2025, a proposal that will have trouble advancing in the Senate but which sends a signal about GOP priorities ahead of competitive midterm elections.

CFPB Trying to Jump Start Trial Disclosures

Mortgage Daily, Sept. 10, 2018
A policy change is being proposed by the Consumer Financial Protection Bureau that is intended to jump start the use of trial disclosure programs.

Boston Fed President Backs Quarterly Rate Increases

Wall Street Journal, Sept. 10, 2018--Nick Timiraos (subscription)
Eric Rosengren says continuing the current pace would push rates closer to a neutral level that would neither spur nor slow growth.

In Reg Relief Just as with Dodd-Frank, Spotlight's Trained on Fed

American Banker, Sept. 10, 2018--Neil Haggerty (subscription)
The Federal Reserve Board commanded much attention after passage of the 2010 Dodd-Frank Act for the agency's expanded authority to supervise big banks. The spotlight is again shining on the central bank as regulators implement a new law to ease regulatory burden.

Closing the Digital Mortgage Gap

National Mortgage News, Sept. 10, 2018--Various Staff (free story)
It's been nearly three years since a watershed moment propelled the concept of a digital mortgage into the public consciousness and sent the industry into a frenzy of innovation and investment.

Banks Lose Thousands of Mortgage Originators

Mortgage Daily, Sept. 10, 2018
Mortgage loan originators who were registered in the Nationwide Mortgage Licensing System as of the second quarter of this year totaled 566,449, up from a year ago.

US Mortgage Sees Opportunity in Down HECM Market

HousingWire, Sept. 10, 2018--Jessica Guerin
The lender has been largely focused on traditional purchase loans, but now it's throwing some weight into growing its reverse mortgage channel.

Residential Finance News

 
Broeksmit, Bradley Join MBA Opens Doors Board of Directors

The MBA Opens Doors Foundation announced two new members joined its Board of Directors: Robert D. (Bob) Broeksmit, CMB, President and CEO of MBA; and Jean Bradley, Vice President of Strategic Business Development with Essent Guaranty, Radnor, Pa.

CoreLogic: Mortgage Delinquency, Foreclosure Rates Lowest for June in 12 Years

For the overwhelming majority of Americans--and mortgage lenders and servicers--there's more good news on mortgage delinquencies and foreclosures.

Residential Briefs

Fannie Mae, Washington, D.C., said its Home Purchase Sentiment Index increased in August for the first time since May, edging up 1.5 points to 88.0. Fannie Mae attributed the uptick to increases in the job- and income-related components.

Commercial/Multifamily News

 
CMBS Delinquency Rate Drops, Loss Severities Increase

The commercial mortgage-backed securities delinquency rate fell again in August for the sixth consecutive month, but large loans liquidated with high loss severities drove up the second quarter's loss severity figure, analysts said.

Commercial/Multifamily Briefs

BridgeCore Capital, Beverly Hills, Calif. commenced operations providing private bridge financing for commercial and non-owner-occupied residential properties throughout California.

Dealmaker: Pebblebrook Hotel Trust, LaSalle Hotel Properties to Merge in $5.2B Deal

Pebblebrook Hotel Trust and LaSalle Hotel Properties, both real estate investment trusts headquartered in Bethesda, Md., agreed to merge in a deal valued at $5.2 billion.

MBA News

 
Academy Award-Winning Actor Geena Davis Keynotes mPower Event at MBA Annual Convention

Academy Award winning actor Geena Davis keynotes the mPower Luncheon on Tuesday, Oct. 16 at the Mortgage Bankers Association's Annual Convention & Expo in Washington, D.C.

MISMO 'Managing Multiple Versions of the MISMO Model' Webinar Sept. 12

MISMO presents a webinar, MISMO Elective--Managing Multiple Versions of the MISMO Model, on Wednesday, Sept. 12 from noon-1:30 p.m. ET.

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 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 jmechem@mba.org

Editor: Mike Sorohan 202/557-2855 msorohan@mba.org 

Editorial Director: Michael Tucker 202/557-2851 mtucker@mba.org 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856 lhall@mba.org

Advertising Opportunities: Bill Farmakis 203/834-8832 bill@jlfarmakis.com

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One Voice. One Vision. One Resource. The Mortgage Bankers Association  (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.