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Volume 18 | Issue 130 | Monday, July 08, 2019

The Lede

 

MBA Advocacy Update

A coalition featuring MBA, the Housing Policy Council, the American Bankers Association and the Bank Policy Institute submitted detailed recommendations to FHA on its proposed revisions to the program's loan-level certifications and Defect Taxonomy.

 

Top National News

 
Report: Financial Services Industry Workforce Among Lowest Risk for Phishing Scams

National Mortgage Professional, July 5, 2019--Phil Hall
Among industries facing potential phishing attacks, the employees of the financial services industry are among the lowest risk to fall prey to this form of digital attack, according to a new report from the security company KnowBe4.

All Eyes on Powell Testimony as Jobs Gain...

Bloomberg, July 6, 2019--Simon Kennedy
Federal Reserve Chairman Jerome Powell returns the spotlight this week as he testifies before lawmakers in appearances set to grip financial markets.

Trump Jawbones Fed Yet Again, May Be Grooming Powell Successor

Bloomberg, July 7, 2019--Josh Wingrove, Saleha Mohsin
President Donald Trump wrapped up the weekend as he started it, jawboning the Federal Reserve to lower interest rates at a time when he may be sizing up his two latest picks for Fed governor as successors to Chairman Jerome Powell.

Indiana Man Sentenced to Seven Years for Foreclosure Fraud

National Mortgage News, July 5, 2019--Brad Finkelstein (subscription)
Phillip Yoder pleaded guilty to charges of wire fraud, bank fraud, mail fraud and bankruptcy fraud. He was sentenced to serve 87 months on the first three counts, which were related to foreclosure fraud, while he received 60 months for the separate bankruptcy fraud charges; those sentences will be served concurrently.

Odd Parcels: Stay or Go, LIBOR, Barn Doors

UExpress, July 5, 2019--Lew Sichelman
Sellers who can't decide whether to move into their next homes while their current one remains unsold should consider this: According to a new analysis, empty houses remain on the market longer, and sell for less, than those that are still occupied.

This Startup Wants to Sell You a Slice of a Rental Home

Wall Street Journal, July 8, 2019--Ryan Dezember (subscription)
Roofstock, which operates a website where investors buy and sell occupied rental properties without disturbing tenants, has launched a marketplace where investors can buy stakes as low as 10% in single-family rental homes.

Residential Finance News

 
June Jobs Growth Solid

Employers added 224,000 jobs in June, the Bureau of Labor Statistics reported on Friday.

MBA Chart of the Week: In-House Mortgage Servicer Productivity

The June 28 MBA Chart of the Week focused on productivity for retail mortgage originators. This week, we look at productivity for in-house mortgage servicers, based on data from MBA's annual Servicing Operations Study.

The Week Ahead

Welcome back--and happy summer with a vengeance.

Commercial/Multifamily News

 
Growing Investor Demand for Seniors Housing

Investor appetite for seniors housing is growing. Nearly two-thirds of investors plan to increase their buying over the next 12 months, said CBRE, Los Angeles.

Dealmaker: JLL Income Property Trust Acquires San Diego Medical Office Campus

JLL Income Property Trust, Chicago, acquired Genesee Plaza, a two-building medical office campus in San Diego's University Town Center neighborhood.

MBA News

 
Terry McAuliffe, Chris Christie, Margaret Brennan Keynote MBA Annual19 General Session

It's only summer, but the Mortgage Bankers Association's Annual Convention (Oct. 27-30 in Austin, Texas) is already heating up, with former Virginia Gov. Terry McAuliffe, former New Jersey Gov. Chris Christie and CBS News' Fact the Nation host Margaret Brennan keynoting the Politics Today General Session on Tuesday, Oct. 29.

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.

Upcoming MBA Education School of Mortgage Banking III Courses

MBA Education presents its School of Mortgage Banking Course III Aug. 13-16 at MBA headquarters in Washington, D.C.

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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