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Volume 18 | Issue 163 | Friday, August 23, 2019

The Lede


Millennial Home Buyers Increasing, But Still Face Barriers

Despite increases in Millennial participation in the home-buying market, two reports suggest Millennials continue to face barriers that impede their entry into the market.


Top National News

30-Year Mortgage Rate Falls to Its Lowest Level in Nearly Three Years

Washington Post, Aug. 22, 2019--Kathy Orton
Economic uncertainty drove mortgage rates down, according to Freddie Mac data released Thursday, with the popular 30-year reaching its lowest level in nearly three years. (MBA mention)

Multifamily Borrowing Surges 10% in Q2

HousingWire, Aug. 22, 2019--Kelsey Ramirez
Mortgage originations in commercial and multifamily surged 10% annually in the second quarter, according to the Mortgage Banker Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

How Low Will Fixed-Rate Mortgages Go?

Orange County Register, Aug. 22, 2019--Jeff Lazerson
"Never say never," said Mike Fratantoni, chief economist of the Mortgage Bankers Association when asked if the U.S. could see negative mortgage rates.

The Inverted Yield Curve is Doing Something Weird to Mortgage Rates

CNBC, Aug. 22, 2019--Diana Olick
It's very odd to suddenly see ARMs showing higher interest rates than the traditional 30-year fixed, which is what is currently showing for average purchase mortgage rates. Refinance rates are still lower for ARMs.

What to Watch for at Fed's Jackson Hole Symposium

Wall Street Journal, Aug. 23, 2019--Nick Timiraos (subscription)
Federal Reserve officials will be joined by academic economists and central bankers from around the world at a mountain resort near Jackson Hole, Wyo., on Friday and Saturday for the Kansas City Fed's annual economic symposium.

Phone Companies Ink Deal With All 50 States And D.C. To Combat Robocalls

NPR, Aug. 22, 2019--Brakkton Booker
The agreement, which amounts to a set of anti-robocall principles, is aimed at combating and preventing the phone-ringing annoyance. The tech giants will also provide other call blocking and call labeling for those customers who want more screening tools.

As U.S. Watchdog Retreats, Mortgage Firms Reprise Cozy Marketing Arrangements

Reuters, Aug. 22, 2019--Katanga Johnson, Michelle Price
U.S. mortgage firms are getting back into joint marketing and advertising arrangements, reviving a controversial practice that was effectively banned in the aftermath of the 2007-2008 subprime mortgage crisis.

First-Time Homebuyers Need More Than Just Lower Mortgage Rates

Bloomberg, Aug. 22, 2019--Prashant Gopal
Mortgage rates in the U.S. dropped closer to historic lows this week, but that may do little to help first-time buyers as starter homes vanish.

Lenders Using IRS System Must Pay For Upgrade, But It May Be Worth It

National Mortgage News, Aug. 22, 2019--Bonnie Sinnock (subscription)
Fees that new legislation will force the Internal Revenue Service to charge users for system modernization will fund improvements that could dramatically shorten processing times for mortgage companies' tax transcript requests.

Overcoming Fintech Hurdles

Mortgage Media, Aug. 22, 2019
Earlier this month at the CMBA Mortgage Innovators Conference, held in San Diego, Mortgage Media spoke with many industry leaders and visionaries about a wide range of topics related to fintech and innovation.

Residential Finance News

It's Official: Refis on the Rise

The current low mortgage interest rate environment has homeowners scrambling to refinance their mortgages. But you probably already knew that.

Residential Briefs

Exceleras, Glencoe, Ill., released a scheduled software update to its DispoSolutions REO software. The updated functionality increases user ability to create and manage custom tasks, making the application more flexible and configurable to meet changing user needs. In addition, recent updates streamline the eviction process.

Commercial/Multifamily News

Small-Cap CRE Market Poised For Late-Stage Course Adjustment

The small-cap commercial real estate space market and investment trends have flattened out and appear vulnerable, said Boxwood Means, Stamford, Conn.

Dealmaker: Marcus & Millichap Brokers Two Multifamily Sales

Marcus & Millichap, Calabasas, Calif., brokered two apartment property sales totaling $82.4 million.

MBA News

Keith Urban Highlights Concert MBA at Annual 19

Keith Urban, 2018 Country Music Association and Academy of Country Music Entertainer of the Year and four-time Grammy Award winner, highlights Concert MBA at Annual19, the Mortgage Bankers Association's Annual Convention & Expo, Oct. 27-30 in Austin, Texas.

MISMO Seeks Input on Consent Language for Tax Transcripts to Comply with Taxpayer First Act

MISMO®, the mortgage industry standards organization, seeks industry participants to collaborate on developing standardized language to gain consent for use of tax transcripts by stakeholders throughout the mortgage process.

Upcoming MBA Education School of Mortgage Banking I Courses

MBA Education presents its popular School of Mortgage Banking Course I this summer and fall.

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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