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Volume 18 | Issue 117 | Tuesday, June 18, 2019

The Lede

 

June Builder Confidence Remains ‘Solid' Despite Slight Drop

Builder confidence in the market for newly built single-family homes fell two points to 64 in June, the National Association of Home Builders reported yesterday.

 

Top National News

 
Mortgage Market Heating Up for Many Credit Unions

Credit Union Times, June 17, 2019--Jim DuPlessis
Real estate originations went through a long, dark winter, but credit union managers contacted this month said conditions started warming this spring. Some are even raising their forecasts for the year, citing an uptick in refinances as rates for fixed mortgages have unexpectedly fallen. (MBA mention)

Fed Faces Unfamiliar Dilemma With Rate Projection

Wall Street Journal, June 17, 2019--Nick Timiraos (subscription)
The so-called dot plot hasn't existed during a period when markets expected the central bank's next move would be to cut rates and not to raise them.

The Big Question for the Fed This Week: Did We Make a Mistake?

New York Times, June 17, 2019--Neil Irwin
This week, at a two-day policy meeting ending Wednesday, Federal Reserve policymakers will, implicitly, be discussing whether they've raised interest rates too much, too soon.

N.Y. Attorney General Urges CFPB to Dismiss Proposed HMDA Rule

National Mortgage Professional, June 17, 2019--Phil Hall
New York State Attorney General Letitia James urged the Consumer Financial Protection Bureau not to adopt its recently-proposed rule that would undermine the ability to enforce fair lending laws and prevent discrimination in the mortgage lending market.

CFPB Chief's Equal-Opportunity Calendar

National Mortgage News, June 17, 2019--Kate Berry (subscription)
In her first four and a half months on the job, Consumer Financial Protection Bureau Director Kathy Kraninger was no stranger to Capitol Hill, holding in-person meetings with lawmakers more than twice as often as her predecessor did during a similar time frame.

HomeStreet Bank Sells Off More of Its Mortgage Business to HomeBridge

HousingWire, June 17, 2019--Ben Lane
HomeStreet Bank's move away from mortgages is nearing its completion, as the bank announced Monday that it completed the second part of the sale of a sizable piece of its origination business to Homebridge Financial Services.

Residential Finance News

 
FHFA: GSEs Sell $22.2B in Non-Performing Loans in 2018

The Federal Housing Finance Agency released its report 2018 Enterprise Non-Performing Loan Sales Report, showing Fannie Mae and Freddie Mac sold 117,466 NPLs with a total unpaid principal balance of $22.2 billion through Dec. 31.

ATTOM: Completed Foreclosures Down 50% from Year Ago

ATTOM Data Solutions, Irvine, Calif., reported 56,152 foreclosure filings in May, up by 1 percent from April but down by 22 percent from a year ago. Additionally, it said completed foreclosures fell by 50 percent from a year ago.

Commercial/Multifamily News

 
MISMO Releases Expanded Rent Roll Dataset, Use Cases for Member Comment

MISMO released an enhanced version of its multifamily and commercial rent roll dataset for member comment; comments are due Monday, July 15.

Coming Soon to Grocery Stores: Smaller Formats, Automated Checkout

Grocery stores--long a staple of strip-center retail--are changing, and many are shrinking and becoming more automated, said CBRE, Los Angeles.

Dealmaker: HFF arranges $171M for Office, Industrial

Holliday Fenoglio Fowler, Houston, secured $154.7 million in joint venture equity and construction financing for One Esterra Park, a Class A office property under development in Redmond, Wash.

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 Path to Diversity Scholarship Program

The Path to Diversity Scholarship Program recognizes existing industry professionals who are seeking to advance their careers through continuing education. Recipients receive a voucher to cover course registration fees, up to a maximum of $2,000, for popular MBA Education courses and designation programs.

Save on FedEx Shipping through MBA Member Advantage Program

Through the MBA Member Advantage Program, you can save up to 29 percent on small package shipping with FedEx.

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.