Not displaying correctly? View in a browser
Volume 18 | Issue 167 | Thursday, August 29, 2019

The Lede


MBA: 2Q Mortgage Production Profits at Highest Level Since 2016

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,675 on each loan they originated in the second quarter, up from $285 per loan in the first quarter, the Mortgage Bankers Association reported this morning.


Top National News

What this Mortgage Expert Says is Behind the Refinancing Boom

CNBC, Aug. 28, 2019
Robert Broeksmit, CMB, Mortgage Bankers Association President and CEO, joins "Squawk on the Street" to discuss the wave of mortgage refinancing as rates fall.

Mortgage Applications Fell as Mini Refinance Boom Lost Some Steam

Mortgage Orb, Aug. 28, 2019--Patrick Barnard
Mortgage application volume fell 6.2% on an adjusted basis during the week ended August 23, with most of the decrease coming from an 8% drop in applications for refinances, according to the Mortgage Bankers Association's Weekly Applications Survey.

Homeowners are Sitting on a Record Amount of Cash, But They're Not Really Tapping It

CNBC, Aug. 28, 2019--Diana Olick
"Savings have increased significantly since before the Great Recession, so the household balance sheet is just in a better position," said Bob Broeksmit, president and CEO of the Mortgage Bankers Association. "Perhaps the need to tap that equity is a little bit lower and there is a little bit more discipline among consumers."

GOP Sen. Johnny Isakson to Resign at End of Year

The Hill, Aug. 28, 2019--Jordain Carney
GOP Sen. Johnny Isakson (Ga.) announced Wednesday that he will step down from the Senate at the end of the year, citing health issues.

Unconventional Mortgages Attract Warning From Regulator

Wall Street Journal, Aug. 29, 2019--Lalita Clozel (subscription)
Asset-depletion loans, also known as asset-dissipation loans, are part of a small but growing subset of the mortgage market that includes subprime loans and other riskier products. They assume borrowers draw from assets to cover a mortgage, rather than just income.

Fintech Firm Buys Hip Pocket Platform for Mortgage Leads

National Mortgage Professional, Aug. 28, 2019--Phil Hall
HT Mobile Apps, an Ann Arbor, Mich.-based fintech, acquired Hip Pocket, an online platform designed to use social influence and personalized consultation for generating new and qualified mortgage and retirement leads. Terms of the deal were not disclosed.

Residential Finance News

Opportunity Zone Home Prices Well Below National Levels

ATTOM Data Solutions, Irvine, Calif., said in "opportunity zones"--special areas of the U.S. aimed at spurring improvement and development-nearly half of homes have median home prices below $150,000.

Black Knight: Tappable Equity at Record $6.3 Trillion

Black Knight, Jacksonville, Fla., said after falling through the second half of last year, tappable equity saw its second consecutive quarterly increase, hitting a record high $6.3 trillion in the second quarter.

Commercial/Multifamily News

Opportunities in an Evolving Retail Sector

An evolving retail sector is providing opportunities for investors and giving underwriters more confidence in retail's long-term outlook, said Marcus & Millichap, Calabasas, Calif.

Dealmaker: Atlanta Office Tower Trades for $205M

Investment firm KKR, New York, and Banyan Street Capital, Miami, acquired Salesforce Tower in Atlanta for $205 million.

MBA News

MBA Risk Management, QA and Fraud Prevention Forum in Chicago Sept. 15-17

The Mortgage Bankers Association's Risk Management, QA and Fraud Prevention Forum takes place Sept. 15-17 at the Sheraton Grand Chicago.

MBA Education Foundational Elements of Mortgage Servicing Rights Workshop in San Diego Nov. 19

MBA Education presents Foundational Elements of Mortgage Servicing Rights Workshop, at the Marriott Marquis San Diego Marina on Tuesday, Nov. 19 in conjunction with the MBA Accounting and Financial Management Conference.

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

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

MBA NewsLink, a daily electronic publication, is a member benefit free to employees of MBA member companies, and available by paid subscription to non-members. For membership information, click here.

If this email has been forwarded to you, please visit our web site to subscribe.

The links at the end of each abstract are to the publisher, publication, or article. Some links may require registration or subscription.

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