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Volume 18 | Issue 122 | Tuesday, June 25, 2019

The Lede

 

Investor Home Buying at Two-Decade High

Home purchasing activity among investors is on the rise, said CoreLogic, Irvine, Calif., with small investors picking up the slack.

 

Top National News

 
Blend Announces $130 Million Capital Raise

HousingWire, June 24, 2019--Jessica Guerin
Mortgage tech startup Blend raised $130 million in a Series E funding round, the company announced Monday. Led by Temasek and General Atlantic, the latest capital raise brings Blend's total funding to $310 million.

Mortgage Bond That Vanished During Financial Crisis Is Back

Wall Street Journal, June 24, 2019--Ben Eisen (subscription)
Cerberus Capital Management LP is bringing back a type of mortgage bond that went extinct during the financial crisis. A unit of the private-equity firm issued bonds Friday backed entirely by home-equity lines of credit.

Warren Sounds Alarm on HUD Hiring of Embattled CFPB Official

National Mortgage News, June 24, 2019--Neil Haggerty (subscription)
Sen. Elizabeth Warren is sounding the alarm on HUD's hiring of a former Consumer Financial Protection Bureau official with a history of controversial writings.

Dozens of Nursing Homes With HUD-Backed Mortgages Have ‘Serious Deficiencies'

New York Times, June 25, 2019--Matthew Goldstein, Robert Gebeloff
Seventy-four nursing homes with mortgages insured against default by the agency, the Department of Housing and Urban Development, are among 478 homes identified this month by two United States senators as having "serious deficiencies."

Health of Housing Markets Report Offers Glowing Diagnosis

National Mortgage Professional, June 24, 2019--Phil Hall
The state of housing is excellent, according to the latest Health of Housing Markets Report from Nationwide Economics. Indeed, the report's proprietary Leading Index of Healthy Housing Markets is at its highest point in three years.

State Regulators Expand Multistate Licensing Process for Fintechs

National Mortgage News, June 24, 2019--Rachel Witkowski (subscription)
Nearly half the state regulators across the nation have agreed to a more uniform standard for processing licenses for money transmitters and money service businesses.

Expert: Quick Closings Sound Great for Consumers, But are They Really?

HousingWire, June 24, 2019--Kelsey Ramirez
A 10-minute closing may sound like it's great for the borrower, but one expert questions if the consumer would really benefit from faster closings.

Residential Finance News

 
MBA Expands Path to Diversity Scholarship Program Eligibility to Select Conferences

The Mortgage Bankers Association announced that scholarships awarded under its popular Path to Diversity (P2D) Scholarship Program can now also be used towards six upcoming MBA conferences where attendees can obtain Continuing Professional Education (CPE), Continuing Legal Education (CLE) or Society of Human Resource Management (SHRM) credits. The scholarships were previously only available for courses offered by MBA Education.

Housing Affordability Showing Up in Unexpected Places

Housing affordability--this year's buzzphrase--is popping up in some of the more unlikely U.S. housing markets, said First American Financial Corp., Santa Ana, Calif.

Residential Briefs

Ginnie Mae, Washington, D.C., announced it removed the previously announced restriction limiting loanDepot to Ginnie Mae II custom pools for VA single-family guaranteed loans.

Commercial/Multifamily News

 
RCLCO: CRE Market Sentiment Slipping

CRE executives' market sentiment has decreased since last summer and is likely to continue to slip, said RCLCO, Washington, D.C.

Dealmaker: American Assets Trust Acquires San Diego Office Asset for $525M

American Assets Trust, San Diego, acquired the La Jolla Commons office asset in San Diego's University Town Center submarket for $525 million.

MBA News

 
Terry McAuliffe, Chris Christie, Margaret Brennan Keynote MBA Annual19 General Session

It's only summer, but the Mortgage Bankers Association's Annual Convention (Oct. 27-30 in Austin, Texas) is already heating up, with former Virginia Gov. Terry McAuliffe, former New Jersey Gov. Chris Christie and CBS News' Fact the Nation host Margaret Brennan keynoting the Politics Today General Session on Tuesday, Oct. 29.

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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