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Volume 17 | Issue 177 | Wednesday, September 12, 2018

The Lede

 

Federal Agencies Issue Statement Clarifying 'Regulation by Enforcement'

Five federal agencies, including the Consumer Financial Protection Bureau, issued a statement yesterday confirming that supervisory guidance does not have the force and effect of law, and the agencies do not take enforcement actions based on supervisory guidance.

 

Top National News

 
Mortgage Credit Tightens in August

Scotsman Guide, Sept. 11, 2018--Victor Whitman
Mortgage credit tightened marginally in August for the first time in four months, the Mortgage Bankers Association reported.

A Decade After the Financial Crisis, Mortgage Market Still Needs Fixes

The Hill, Sept. 11, 2018--James Lockhart
"There is no excuse for the continued massive government involvement in housing finance," Lockhart says. "As we did 10 years ago, the Federal Housing Finance Agency must work with Congress and the administration to reform the mortgage market."

How Ginnie Mae Could Break Stalemate on GSE Reform

National Mortgage News, Sept. 11, 2018--Hannah Lang (subscription)
Housing finance reform is still likely years away, but two major hurdles may already be cleared. A key sticking point in earlier attempts to overhaul the system was whether it will still have government backing. A related question also creeping up at times: What agency will be the source of that backing?

RealPage Completes $100 Million Acquisition of LeaseLabs

HousingWire, Sept. 11, 2018--Ben Lane
The acquisition of LeaseLabs is just the latest for RealPage, a provider of software and data analytics to the real estate industry. This is RealPage's sixth since January 2017 and pushes the company's total outlay for its recent expansion past $1 billion.

The Government May Want to Buy Your Dying Mall

Wall Street Journal, Sept. 11, 2018--Esther Fung (subscription)
These municipalities, concerned that vacated retail centers will blight the landscape and drag down surrounding property values, have been buying up malls they fear are being starved of capital by the private sector.

New York's World Trade Center Struggles to Fill Office Space

Wall Street Journal, Sept. 11, 2018--Peter Grant (subscription)
Nearly 20% of One World Trade Center remains empty four years after it opened.

Record U.S. Job Openings, Quits Rate Boost Wage Growth Outlook

Reuters, Sept. 11, 2018--Lucia Mutikani
U.S. job openings surged to a record high in July and more Americans voluntarily quit their jobs, pointing to sustained labor market strength and confidence that could soon spur faster wage growth.

Residential Finance News

 
Applications Down Again in MBA Weekly Survey

With mortgage rates on the rise, a sharp drop in refinance applications more than offset a modest increase in purchase applications, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending September 7.

MBA Offers Recommendations to Agriculture Dept. on Technology Fee

In a letter to the Department of Agriculture, the Mortgage Bankers Association offered a series of recommendations on a proposed Guarantee Systems User Fee in the Rural Housing Service's Single-Family Section 502 Guaranteed Loan Program.

As Florence Approaches, Homeowners, Real Estate Finance Industry Holds Breath

It's hard to imagine a crazier weather summer than 2017, with its devastating hurricanes and massive wildfires. To which 2018 appears to be saying: "Hold my beer."

Commercial/Multifamily News

 
Commercial Real Estate Price Growth Wanes

U.S. commercial property price growth lost steam for the fourth consecutive month in July, reported Real Capital Analytics, New York.

Dealmaker: Grandbridge Arranges $68M for Multifamily

Grandbridge Real Estate Capital, Charlotte, N.C., closed $67.5 million in financing for North Carolina, South Carolina and Minnesota multifamily assets.

MBA News

 
MBA Accounting & Financial Management Conference in Orlando Nov. 12-14

The Mortgage Bankers Association's MBA Accounting & Financial Management Conference takes place in Orlando Nov. 12-14.

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 School of Mortgage Banking I in Tampa Nov. 27-30

MBA Education presents its popular School of Mortgage Banking Course I at USAA in Tampa, Fla. Nov. 27-30.

Make Your Voice Heard through MBA Mortgage Action Alliance

The Mortgage Action Alliance is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association.

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.