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Volume 18 | Issue 112 | Wednesday, June 12, 2019

The Lede


May Mortgage Credit Availability Up 1.9%

Mortgage credit availability increased in May, according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association that analyzes data from Ellie Mae's AllRegs Market Clarity business information tool.


Top National News

Q1 Commercial and Multifamily Delinquency Rates Stay Low

National Mortgage Professional, June 10, 2019--Phil Hall
The delinquency rates on the commercial and multifamily mortgage sectors remained low during the first quarter, according to new data from the Mortgage Bankers Association.

How Nonbanks' Rising Government Mortgage Market Share Helps Ginnie Mae

National Mortgage News, June 10, 2019--Bonnie Sinnock (subscription)
Ginnie Mae is examining whether the shift in business to nonbank issuers has implications for its ability to guarantee mortgage securities payments beyond those it has historically looked at.

‘Not My People'-Trump Hectoring of Fed Chairman Complicates Rate Calls

Wall Street Journal, June 10, 2019--Nick Timiraos (subscription)
Federal Reserve Chairman Jerome Powell's first six months on the job were smooth sailing. The past six have been the opposite. He has learned that the economic outlook can change suddenly, that communicating with jittery markets is harder than it looks and that President Trump isn't likely to make his job any easier.

Tax Cuts and Jobs Act Will Likely Spur Demand for Entry-Level Homes, Researchers Say

HousingWire, June 10, 2019--Jessica Guerin
Last year, the savings amounted to renters paying $2,716 less in taxes, and homeowners paying $1,508 less, according to researchers at John Burns Real Estate Consulting, which they say could drive some renters toward homeownership.

Freddie Mac Targeting ESG Investors With Green Mortgage Bonds

Bloomberg, June 10, 2019--Adam Tempkin
Freddie Mac is making its first foray into green bonds, starting a new commercial mortgage-backed security program backed by loans to apartment building owners who agree to make their properties more environmentally friendly.

Ocwen All But Drops Ocwen Name, Will Operate as PHH Mortgage and Liberty Home Equity Solutions

HousingWire, June 10, 2019--Jessica Guerin
Ocwen Financial announced Monday it hit two milestones enabling the company to officially service loans through its two primary brands: PHH Mortgage for forward servicing and lending, and Liberty Home Equity Solutions for reverse lending and servicing.

Residential Finance News

House Passes MBA-Supported IRS Tax Bill

The House yesterday passed a Mortgage Bankers Association-supported bill that would substantially revamp the Internal Revenue Service's approach to third-party income verifications.

MBA Awards $90,000 in Path to Diversity Scholarships

The Mortgage Bankers Association announced it awarded more than $90,000 in scholarships to 101 women and minorities under its Path to Diversity Scholarship Program during the first eight months of the 2019 fiscal year.

Ginnie Mae Publishes 2020 Progress Update

Ginnie Mae, Washington, D.C. yesterday released a progress update to its Ginnie Mae 2020 white paper, detailing strides the agency has made toward modernizing its mortgage-backed securities platform, enhancing counterparty risk management and fostering improvements to its program.

Commercial/Multifamily News

Commercial/Multifamily Mortgage Debt Outstanding Approaches $3.5 Trillion

Commercial/multifamily mortgage debt outstanding rose by 1.3 percent ($45.4 billion) in the first quarter, the Mortgage Bankers Association reported this morning.

Dealmaker: KeyBank Arranges $102M for Affordable Housing

KeyBank, Cleveland, arranged $101.6 million for affordable multifamily housing in five states.

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.

MBA Virtual Vendor Marketplace June 12

The Mortgage Bankers Association's inaugural Virtual Vendor Marketplace takes place Wednesday, June 12 from 2:00-3:30 p.m. ET.

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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