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Volume 18 | Issue 114 | Thursday, June 13, 2019

The Lede


MBA, Trade Groups Urge CFPB to Raise HMDA Reporting Threshold

The Mortgage Bankers Association and a half-dozen other industry trade groups urged the Consumer Financial Protection Bureau to increase the threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans.


Top National News

Here's What the Surge in Mortgage Applications Means for the Housing Sector

CNBC, June 12, 2019
Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association, appeared on "Squawk Box," noting with so many Millennials entering their prime home-buying years, prospective borrowers and those looking to refinance should call their mortgage banker to take advantage of historically low mortgage rates.

Mortgage Applications Surge on Refinances as Rates Hit 21-Month Low

USA Today, June 12, 2019--Yan Zhang
Americans are scrambling to refinance mortgages as borrowing costs tumble. With mortgage rates falling to the lowest level since September 2017, total mortgage applications surged 26.8% last week, led by an increase in refinancing, the Mortgage Bankers Association said Wednesday.

Growth of Multifamily, CRE Loan Debt Shows Strong Interest in Sector

National Mortgage News, June 12, 2019--Paul Centopani (subscription)
Commercial and multifamily mortgage debt outstanding grew 1.3% in in the first quarter of 2019, aided by low mortgage rates and the steady incline of property values, according to the Mortgage Bankers Association.

Fannie-Freddie Regulator Asks Congress to Help End U.S. Control

Bloomberg, June 12, 2019--Austin Weinstein
Fannie Mae and Freddie Mac's chief regulator, Federal Housing Finance Agency Director Mark Calabria, is calling on Congress to pass housing-finance reform legislation that sets a path to return the companies to private hands.

House Poised to Advance Flood Insurance Reform, Beneficial Owner Rules

American Banker, June 12, 2019--Neil Haggerty (subscription)
The House Financial Services Committee was poised Wednesday to approve a bill reforming the National Flood Insurance Program, with key members of both parties voicing their support.

Is Your Home at Risk of Flooding? The Data Is Hard to Find

Wall Street Journal, June 13, 2019--Laura Kusisto (subscription)
Flood maps are outdated and information about whether a property has flooded before isn't always disclosed.

MERS, NYSE Owner Intercontinental Exchange Increases Mortgage Presence By Buying Simplifile

HousingWire, June 12, 2019--Ben Lane
ICE announced Wednesday it acquired Simplifile, which acts as an electronic liaison between lenders, settlement agents and county recording offices, for $335 million.

Most Millennial Renters Expect to Buy a Home in the Next Five Years

National Mortgage News, June 12, 2019--Brad Finkelstein (subscription)
Two-thirds of millennial and Generation-Z renters expect to purchase a home in the next five years, although their aspirations for homeownership slipped from a year ago, a Pulsenomics survey found.

BB&T, SunTrust to Rebrand as Truist

HousingWire, June 12, 2019--Jessica Guerin
The combined holding company will be named Truist Financial Corporation and the combined bank will be named Truist Bank, the companies said. The new names will not be official and the companies will remain separate entities until the merger is complete, a milestone the banks said they expect to hit in the third or fourth quarter.

Residential Finance News

MBA: May New Home Purchase Applications Up 0.1%

Mortgage applications for new home purchases increased by 0.1 percent in May from April and by 20.1 percent from a year ago, the Mortgage Bankers Association reported this morning.

MBA Launches New Affordable Housing Initiative

The Mortgage Bankers Association launched a new strategic initiative to help develop stronger and more effective affordable housing partnerships in both the policy and business arenas.

MBA's Krystal Thomas, Andrea Oh Presented with Women in Housing Finance Inc.'s 40 under 40 Award

The Mortgage Bankers Association's Krystal Thomas, Government Program Specialist, and Andrea Oh, Policy Advisor, were recognized by Women in Housing and Finance Inc.'s 2019 40 under 40 awards.

Commercial/Multifamily News

CRE Executives Bullish as Tax Reform Measures Take Shape

Commercial real estate executives show optimism about the country's economic strength and expect real estate market activity to grow despite the aging economic cycle, reported law firm Akerman LLP, Miami.

Dealmaker: Greystone Arranges $415M for Hudson Yards Development

Greystone, New York, arranged a $415 million construction loan for Douglaston Development's 931-unit mixed-use residential development at 601 W. 29th Street on Manhattan's Far West Side.

MBA News

MBA Annual19 Comes to Austin, Texas Oct. 27-30

The Mortgage Bankers Association's Annual Convention & Expo takes place Oct. 27-30 at the Austin Convention Center in Austin, Texas.

Upcoming MBA School of Mortgage Banking II Courses

MBA Education presents its popular School of Mortgage Banking Course II in several locations this summer and fall.

MBA Education Opportunity Zone Webinar June 19: A Guide to Evolving Program Rules

The U.S. Treasury issued Qualified Opportunity Zone program regulations on April 17. Join MBA Education and members of Ballard Spahr's Qualified Opportunity Zone team for an overview of the QOZ program and dive into how this new set of regulations will impact investments in real estate and operating businesses located in QOZs.

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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