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Volume 18 | Issue 156 | Wednesday, August 14, 2019

The Lede


MBA: Mortgage Delinquencies Rise in Second Quarter

Mortgage delinquencies rose in the second quarter as the economy showed signs of slowing, putting more homeowners at risk, the Mortgage Bankers Association reported yesterday.


Top National News

Mapping the Hispanic Homeownership Gap

Urban Institute, Aug. 13, 2019--Sarah Strochak, Caitlin Young, Alanna McCargo
Despite improvements in recent years, Hispanic homeownership still significantly lags behind non-Hispanic white homeownership. The Urban Institute examined the 100 US cities with the largest number of Hispanic households to show the size of the Hispanic homeownership gap and the scope of the affected population across selected U.S. metropolitan areas.

House Committee: Big Bank Leadership is Mostly White, Mostly Male

HousingWire, Aug. 13, 2019--Jessica Guerin
A review of the nation's largest banks by the House Financial Services Committee reveals that not a single female or minority sits at the helm as CEO.

U.S. Mortgage Debt Hits Record, Eclipsing 2008 Peak

Wall Street Journal, Aug. 13, 2019--Harriet Torry (subscription)
Mortgage balances rose by $162 billion in the second quarter to $9.406 trillion, surpassing the high of $9.294 trillion in the third quarter of 2008, the Federal Reserve Bank of New York said Tuesday.

U.S. Will Back More Condominium Loans Aimed at First-Time Buyers

Wall Street Journal, Aug. 14, 2019--Laura Kusisto (subscription)
The move, to be announced Wednesday by the Federal Housing Administration, could help revive the entry-level condo market for first-time buyers because FHA-backed loans require only a 3.5% down payment and lower credit score than conventional loans.

More Signs Point to a Softer Housing Market, Even as Mortgage Rates Fall

CNBC, Aug. 13, 2019--Diana Olick
Just 12% of adults said they plan to buy a home in the next year, according to a survey done in the second quarter of this year by the National Association of Home Builders. That is down from 14% in 2018.

Reform Plan Shouldn't Lead to Ratings Cut in the Near Term: Fitch

National Mortgage News, Aug. 13, 2019--Brad Finkelstein (subscription)
Fannie Mae and Freddie Mac's corporate debt ratings shouldn't be downgraded in the near term as a result of the Treasury Department's to-be-released government-sponsored enterprise reform plan, Fitch Ratings said.

Residential Finance News

Refi 'Wave' Dominates MBA Weekly Applications Survey

The lowest mortgage interest rates in more than three years sparked a sharp increase in refinance activity, the Mortgage Bankers Association reported this morning in its Weekly Applications Survey for the week ending Aug. 9.

FHFA Publishes Final Rule on Credit Score Models

The Federal Housing Finance Agency yesterday announced a final rule on validation and approval of third-party credit score model(s) that can be used by Fannie Mae and Freddie Mac.

Quicken: Home Values at 12-Year High; Owner Perceptions Improve

Quicken Loans, Detroit, said home values rose by 0.6% nationally in July and posted a 4.78% year over year increase to their highest point since January 2007.

Commercial/Multifamily News

How Climate Change Could Change CRE

Real estate developers are responding to the threat of climate change with design changes and new technologies, said the Urban Land Institute, Washington, D.C.

Dealmaker: Hunt Real Estate Capital, Freddie Mac Finance Affordable Housing Portfolio

Hunt Real Estate Capital, New York, provided $192.2 million in Freddie Mac financing for a 1,321-unit Brooklyn, N.Y. multifamily portfolio.

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.

Apply Now for MBA Path to Diversity Scholarship Program

The Path to Diversity Scholarship Program recognizes existing industry professionals who are seeking to advance their careers through continuing education. Recipients receive a voucher to cover course registration fees, up to a maximum of $2,000, for popular MBA Education courses and designation programs.

MBA Compliance Essentials Offers Certified Mortgage Compliance Professional Designation Level 1

Earn recognition for your mortgage compliance expertise: MBA Education and the MBA Compliance Essentials program offer the only certification and designation program geared exclusively towards compliance professionals in the mortgage finance industry, the Certified Mortgage Compliance Professional (CMCP).

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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