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Volume 18 | Issue 153 | Thursday, August 08, 2019

The Lede

 

July Mortgage Credit Availability Decreases

Mortgage credit availability decreased in Jul, according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association that analyzes data from Ellie Mae's AllRegs Market Clarity business information tool.

 

Top National News

 
Mortgage Refinances Spike 12% on Big Rate Drop, But Homebuyers Pull Back Again

CNBC, Aug. 7, 2019--Diana Olick
Total mortgage application volume rose 5.3% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 46.5% higher than a year ago, when rates were significantly higher.

Falling Yields Rock U.S. Mortgage Bond Market

Reuters, Aug. 7, 2019--Richard Leong
Some $8.4 trillion in mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae have been rocked by the swift decline in bond yields on worries that a wave of mortgage refinancing would erode the value of these bonds. (MBA mention)

Black Knight's Earnings Down on Hit from Dun & Bradstreet Investent

National Mortgage News, Aug. 7, 2019--Brad Finkelstein (subscription)
Black Knight's second-quarter earnings dropped 20% from the previous year as it took a hit from its indirect investment in Dun & Bradstreet, offsetting a 7% increase in revenue.

Former Freddie CEO: Trump's Treasury Sees GSE Reform as 'Mostly Happened'

HousingWire, Aug. 7, 2019--Kathleen Howley
In a 17-page paper published on Monday, "GSE Reform: None or Mostly Done?", Former Freddie Mac CEO Donald Layton reveals a conversation he had a few months ago in a meeting with an unnamed senior official in the U.S. Treasury who told him: "GSE reform has already mostly happened."

Could There Ever Be Negative Long-Term Mortgage Rates in the U.S.?

National Mortgage News, Aug. 7, 2019--Bonnie Sinnock (subscription)
Falling rates: The phrase is music to a mortgage originator's ears. But is it possible, even when it comes to the volume stimulating effects that a favorable rate environment brings, for there to eventually be too much of a good thing?

Mall Landlords Weigh Becoming Lenders to Blunt Retail Apocalypse

Bloomberg, Aug. 7, 2019--Laruen Coleman-Lochner, Eliza Ronalds-Hannon
Mall landlords accustomed to offering rent reductions to ailing retailers are mulling a new strategy to forestall the industry's collapse: positioning themselves as lenders to tenants struggling to stay afloat.

Residential Finance News

 
ATTOM: Foreclosure Filings Down 18% in First Half of Year

ATTOM Data Solutions, Irvine, Calif., reported an 18% drop in U.S. foreclosure filings in the first six months of the year and an 82 percent decline from the peak of foreclosures.

More Than Half of Homebuyers, Sellers Oppose Housing Density; a Quarter Support

Redfin, Seattle, released a survey reporting homebuyers and sellers are nearly twice as likely to oppose the building of dense housing in their neighborhood than they are to support it.

Residential Briefs

LendEDU, Hoboken, N.J., released the first part of a two-part study on trends among current Millennial homeowners, noting this generation often pays for private mortgage insurance, in addition to leaving little wiggle room to meet monthly mortgage payments.

Commercial/Multifamily News

 
CMBS Supply-Demand Fundamentals Stable; Freddie Mac Defeasance Jumps

Commercial property market supply and demand fundamentals slipped one point in the first quarter but remained stable, reported Moody's Investors Service, New York.

Dealmaker: Dwight Capital Closes $96M

Dwight Capital, New York, closed $95.7 million in multifamily loans in Nevada, Maryland, Michigan and Texas.

MBA News

 
MBA Annual19 Comes to Austin, Texas Oct. 27-30

The Mortgage Bankers Association's Annual Convention & Expo takes place Oct. 27-30 at the Austin Convention Center in Austin, Texas. 

Upcoming MBA Education School of Mortgage Banking I Courses

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

Save on FedEx Shipping through MBA Member Advantage Program

Through the MBA Member Advantage Program, you can save up to 29 percent on small package shipping with FedEx.

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.