President Donald Trump signed a $19.1 billion disaster aid bill last week that included an extension of the National Flood Insurance Program until September 30. Also, the the GSEs began issuance of the new Uniform Mortgage-Backed Security.
Mortgage Lending More Profitable for Independent Lenders
Mortgage Professional America, June 7, 2019--Steve Randall
To Stop Robocalls, Parties Need to Understand Who Is a Robocaller
Wall Street Journal, June 9, 2019--Sara Krouse (subscription)
FHA is Increasing Lending to Riskier Borrowers
HousingWire, June 7, 2019--Ben Lane
Rewrite of Bank Rules Makes Little Progress, Frustrating Republicans
Wall Street Journal, June 10, 2019--Andrew Ackerman, Gabriel T. Rubin (subscription)
Mnuchin Dashes Investor Dreams of Quick Fannie-Freddie Windfall
Bloomberg, June 10, 2019--Saleha Mohsin, Austin Weinstein
Can Fannie, Freddie be Overhauled Without Congress?
National Mortgage News, June 7, 2019--Hannah Lang (subscription)
New Spotlights Shine on Homeownership Disparities
National Mortgage Professional, June 7, 2019--Phil Hall
Construction Miscues and Mishaps
UExpress, June 7, 2019--Lew Sichelman
Why Tier 2 Cities Have Real Estate Buyers' Attention
Forbes, June 7, 2019--Evan Gentry
Hiring Slows in May; Unemployment Remains at 50-Year Low
The economy slowed more than expected during May with 75,000 new jobs created compared to 224,000 in April, the Bureau of Labor Statistics reported Friday.
1Q Negative Equity Share Falls to 4.1%
CoreLogic, Irvine, Calif., said 17,000 residential properties regained equity in the first quarter, bringing the total number of mortgaged homes in negative equity to 2.2 million, or 4.1 percent of all mortgage properties.
The Week Ahead
The Mortgage Bankers Assocation releases its Quarterly Commercial/Multifamily Delinquency Report today, June 10; its monthly Mortgage Credit Availability Index this Tuesday, June 11; and its Weekly Applications Survey this Wednesday, June 12; and its monthly Builder Applications Survey this Thursday, June 13.
1Q Commercial, Multifamily Mortgage Delinquencies At Record Lows
Commercial and multifamily mortgage delinquencies fell to near-record lows in the first quarter, the Mortgage Bankers Association reported.
MBA Chart of the Week: Transition from LIBOR
The vast majority of commercial and multifamily mortgage lenders report they are working on the transition away from LIBOR, but the devil is in the details. Most firms are already taking steps, but they also report relying on regulators and industry bodies to make decisions before they take certain actions.
Dealmaker: Newmark Realty Capital Arranges $76M
Newmark Realty Capital, San Francisco, arranged $75.6 million in permanent and construction financing for Washington retail and industrial assets.
MBA Condominium Lending Workshop in D.C. July 18
The Mortgage Bankers Association's annual Condominium Workshop takes place Thursday, July 18 at the Marriott Marquis in Washington, D.C.
CREF Market Intelligence Symposium in New York July 10-11
The Mortgage Bankers Association CREF Market Intelligence Symposium cuts through the clutter to provide hard facts about the state of commercial real estate markets--what we do and don't know.