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Volume 18 | Issue 142 | Wednesday, July 24, 2019

The Lede

 

Mortgage Applications Down Again in MBA Weekly Survey

Mortgage applications fell for a third straight week despite falling interest rates, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending July 19.

 

Top National News

 
Median Home Price Reaches New High

Marketplace, July 23, 2019--Mitchell Hartman
Meanwhile, wages have been rising and mortgage rates have been falling, said Joel Kan at the Mortgage Bankers Association. "That's working to help the affordability challenges in many parts of the country."

NY AG Sues Ditech Over Bankruptcy Filing

National Mortgage Professional, July 23, 2019--Phil Hall
New York Attorney General Letitia James has filed a brief in the U.S. Bankruptcy Court for the Southern District of New York seeking to prevent the bankruptcy filing by Ditech Holding Corp.

J.D. Power: Quicken Loans and State Farm Could Both Reap Serious Rewards From Unique Mortgage Partnership

HousingWire, July 23, 2019--Ben Lane
It's unclear how many of State Farm's nearly 19,000 agents are licensed loan originators (which they'd need to be to originate a mortgage, whether that's through Quicken Loans or State Farm Bank), but the potential of the relationship with Quicken Loans is massive for all parties involved, according to new analysis of the deal from J.D. Power.

Struggling Real Estate Giant Realogy Strikes Deal With Amazon

Wall Street Journal, July 23, 2019--Katherine Clarke, Laura Kusisto (subscription)
Real estate brokerage giant Realogy Holdings launched a new partnership with Amazon.com on Tuesday, a fresh attempt at jumpstarting the property firm's tumbling share price. News of Amazon's partnership with a real estate agency is likely to cause unease in the brokerage industry.

MGIC Earnings Beat Foreshadows Positive Results for Other MIs

National Mortgage News, July 23, 2019--Brad Finkelstein (subscription)
MGIC Investment Corp.'s second-quarter earnings coming in higher than expected can be seen as a positive for the other private mortgage insurers.

A Decade of Low Interest Rates Is Changing Everything

Bloomberg, July 23, 2019--Liz McCormick
Cheap money has transformed the world of borrowers, savers, bankers, money managers and retirees.

Residential Finance News

 
June Existing Home Sales Down 1.7%

Existing home sales weakened in June, the National Association of Realtors reported yesterday.

Residential Briefs

Ellie Mae, Pleasanton, Calif., announced the Encompass Digital Lending Platform will include support for the new government-sponsored enterprise Uniform Residential Loan Application aimed at enabling lenders to start testing and planning their transition to the new redesigned application before the mandatory use deadline of February 1, 2020.

Commercial/Multifamily News

 
Retail Sector Fending Off Worst Fears

Despite fears of an impending retail apocalypse, the sector has been able to ward off the worst of the predictions so far, reported Reis, New York.

Dealmaker: Berkadia Arranges $44M in Apartment Construction Financing

Berkadia announced $44 million in construction financing for Point of View Apartments, a proposed Draper, Utah, multifamily development.

MBA News

 
MBA Regulatory Compliance Conference 2019 in Washington Sept. 22-24

The Mortgage Bankers Association's annual Regulatory Compliance Conference takes place Sept. 22-24 at the Grand Hyatt in Washington, D.C. Early registration deadline is Monday, Aug. 12.

Upcoming MBA Education School of Mortgage Banking I Courses

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

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 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.