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Volume 18 | Issue 165 | Tuesday, August 27, 2019

The Lede


Low Mortgage Rates Hasn't Been Catalyst for Home Building, Mortgages

Despite the lowest interest rates in three years and a resulting uptick in refinancing--the Mortgage Bankers Association last week reported refinance application activity was 180 percent higher than a year ago--several reports said the rate drop doesn't appear to be having the desired effect on housing activity.


Top National News

Refinance Now or Wait in a Very, Very Long Line

The Mortgage Reports, Aug. 26, 2019--Peter Miller
You might be delaying your plans to apply for a refinance. And that could be a mistake. (MBA mention)

The Western States CREF Conference is More Dynamic than Ever

Mortgage Professional America, Aug. 26, 2019--Kimberly Green
Planning the same conference for more than two decades could put an organizing committee in a bit of a rut. Rather than featuring the same old panel discussions on industrial, multifamily, and office, however, the California Mortgage Bankers Association organizing committee behind the annual Western States Commercial Real Estate Finance conference listened to their members on the ground.

A Primer on the Future of Fannie, Freddie

Wall Street Journal, Aug. 27, 2019--Andrew Ackerman (subscription)
The Trump administration is close to releasing a blueprint for overhauling Fannie Mae and Freddie Mac, two companies that back half of the nation's $10 trillion mortgage market. The firms have been in government conservatorship since the 2008 financial crisis, and administration officials say it is time to return them to the private sector.

6 Banking Issues to Watch When Congress Reconvenes

American Banker, Aug. 26, 2019--Neil Haggerty, Joe Adler (subscription)
When lawmakers return from their late-summer break on Sept. 9, there are a host of unresolved financial services issues facing them, including efforts to let bankers serve the marijuana industry to reforms of anti-money-laundering requirements.

GOP Rep. Sean Duffy Resigning from Congress

The Hill, Aug. 26, 2019--Juliegrace Brufke
Rep. Sean Duffy, R-Wis., announced on Monday he is resigning from Congress after being elected to his fifth term in 2018, citing family issues.

Process Changes Can Bring New Business to Mortgage Lenders

National Mortgage News, Aug. 26, 2019--Steve Smith (free article)
The author, with Finicity, says not only is digitization poised to get loan officers the information they need faster than ever before, but it can also reduce errors or fraud stemming from manual data entry and extraction.

FICO Scores for Refi Borrowers Reach Six-Year High, Ellie Mae Says

HousingWire, Aug. 26, 2019--Kathleen Howley
The average credit score of borrowers who refinanced mortgages in July with loans backed by Fannie Mae and Freddie Mac rose to a six-year high, according to an Ellie Mae report. The score was 750, up from 742 in June.

ZeroDown Raises $100M in Debt Capital

National Mortgage Professional, Aug. 26, 2019--Phil Hall
ZeroDown, a San Francisco-headquartered startup that aims to helps potential homebuyers to acquire property without making a downpayment, closed more than $100 million of debt capital from Credit Suisse.

Residential Finance News

MBA Education Path to Diversity Scholar Profile: Dianna Rodriguez

Dianna Rodriguez is a Paralegal with First Guaranty Mortgage Corp., Arlington, Va., where she has spearheaded several important projects including licensing, acquisition of and an intense Vendor Management overhaul. She is a recipient of the MBA's Path to Diversity Scholarship and is a member of the 2019 class of MBA Future Leaders.

MISMO Seeks Nominations for Standards Governance Committee Members

MISMO seeks nominations for qualified industry professionals to serve on MISMO's Standards Governance Committees for a two-year term beginning in January. Positions are available on both the Residential and Commercial Standards Governance Committees.

Residential Briefs

Collateral Analytics, Honolulu, Hawaii, published a Research Article showing employment, particularly at the local level, serves as a key predictor for home prices.

Commercial/Multifamily News

Forecast Sees Further Slowing for U.S. Hotels

Performance growth projections for the U.S. hotel industry are slipping, two sector analysts said.

Dealmaker: Ashford Hospitality Trust Sells Courtyard Savannah for $30M

Ashford Hospitality Trust, Dallas, sold the 156-room Courtyard Savannah Downtown in Savannah, Ga. to Peachtree Hotel Group, Atlanta, for $29.75 million.

MBA News

mPowering You: MBA's Summit For Women in Real Estate Finance in Austin Oct. 26

mPowering You: MBA's Summit For Women in Real Estate Finance, takes place Saturday, Oct. 26 at the Austin Convention Center in Austin, Texas.

Upcoming MBA Education School of Mortgage Banking III Courses

MBA Education presents its School of Mortgage Banking Course III, with sessions scheduled for this fall and winter.

MBA Education/Compliance Essentials Managing the Risks of CFPB and State Examinations Sept. 15

MBA Education and Compliance Essentials present a workshop, Managing the Risks of CFPB and State Examinations, on Sunday, Sept. 15 at the Sheraton Grand Chicago, in conjunction with the MBA Risk Management, QA and Fraud Prevention Summit.

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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