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Volume 18 | Issue 116 | Monday, June 17, 2019

The Lede


MBA Advocacy Update

Ginnie Mae released its "Ginnie Mae 2020" progress report and held a two-day summit with issuers, investors and other stakeholders.


Top National News

New Home Mortgage Applications in U.S. Spike 20.1 Percent Annually in May

World Property Journal, June 14, 2019
Based on the Mortgage Bankers Association's latest Builder Application Survey for May, U.S. mortgage applications for new home purchases increased 20.1 percent from a year ago.

Despite Rising Home Prices, Experts Pop Bubble Fears, Jun 17, 2019--Natalie Campisi
Despite housing starts of new homes rising in April, there continues to be a shortage of single-family units, says Joel Kan, associate vice president for industry surveys and forecasts with the Mortgage Bankers Association.

New Piggy-Back Loans Can Lower Your Payments When Buying a Home

Orange County Register, June 14, 2019--Jeff Lazerson
Innovative mortgage industry thinkers are creating mind-boggling second lien purchase money and cash-out financing instruments that will save mortgage shoppers armored cars of cash. (MBA mention)

Quicken Loans Vice Chairman Bill Emerson: Government Used 'Extortionist Tactics' to Pursue 'Bogus' Claims

HousingWire, June 14, 2019--Jessica Guerin
Quicken Loans Vice Chairman Bill Emerson (and former MBA chairman) said the nonbank did not admit to any guilt and that the government realized its "bogus" claims were baseless.

Three Ways to Draw Private Capital Back into Mortgages

National Mortgage News, June 14, 2019--Edward DeMarco (subscription)
Former Federal Housing Finance Agency Director says while bigger picture reform is debated, regulators should take steps today to rebalance public and private risk in the mortgage sector.

How an Obama Fed Appointee is Scuttling Wall Street's Bid to Ease Rules

Reuters, June 14, 2019--Pete Schroeder
As a U.S. Federal Reserve governor, Lael Brainard gets only one vote on proposals that come before the central bank's board. Over the past year, she has used it to combat the Trump administration's efforts to ease rules for Wall Street.

Bankers Rattled as Nonbanks' CRE Lending Spikes

American Banker, June 14, 2019--John Reosti (subscription)
Bankers are growing increasingly concerned that nonbanks will cause headaches in commercial real estate lending.

Can You Afford to Sell?

UExpress, June 14, 2019--Lew Sichelman
In most real estate transactions, the focus is on the purchaser and whether he or she can afford to buy the property. But there is another, equally important question: Can the seller afford to sell?

Residential Finance News

MBA Chart of the Week: IMB Revenue/Expense

Production profitability for independent mortgage banks increased to 7.5 basis points--$285 per loan--in the first quarter, from a reported loss of 11 bps ($200 per loan) in the fourth quarter, according to the MBA Quarterly Mortgage Bankers Performance Report released last week.

Quicken, HUD Settle Lawsuit

A federal mediator on Friday said HUD and Quicken Loans Inc., Detroit, settled an acrimonious lawsuit accusing Quicken of violating the False Claims Act.

The Week Ahead

Washington shifts its attention this week to the Federal Open Market Committee, which meets Tuesday and Wednesday to determine the future direction of economic policy.

Commercial/Multifamily News

Jury Still Out On Opportunity Zones

The Treasury Department recently released Opportunity Zone guidance to make it easier for fund managers to raise capital and developers to begin construction, but it is too soon to see how well they work, analysts said.

Dealmaker: Arbor Funds $21M in Bridge, Acquisition Loans

Arbor Realty Trust, Uniondale, N.Y., funded $20.6 million in bridge and acquisition loans for multifamily properties in Brooklyn, N.Y. and Forest Park, Ga.

MBA News

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.

Apply Now for MBA Education Commercial/Multifamily Future Leaders Program

The MBA Education Future Leaders Program is an executive leadership development program that delivers a comprehensive curriculum for selected managers who have shown leadership interests and abilities. Participants enhance their skills through three hands-on sessions geared toward political activism; business analysis and problem-solving; and experiential learning through collaboration, networking and peer group interaction.

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

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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