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Volume 18 | Issue 107 | Tuesday, June 04, 2019

The Lede


MBA Survey on LIBOR Transition Finds Mix of Preparation, Uncertainty Among Commercial/Multifamily Real Estate Firms

Commercial and multifamily real estate finance firms are preparing for the transition away from the London Interbank Offered Rate (LIBOR), but there is little uniformity when it comes to the details, according to the results of a new survey by the Mortgage Bankers Association's LIBOR Outreach Committee.


Top National News

2019 Rising Star: ​​​​​​​Amber Lawrence

HousingWire, June 3, 2019
Amber Lawrence is associate director of education operations and programming at the Mortgage Bankers Association. As a core member of the organization's education leadership team, Lawrence manages its professional certification and designation programs. Working alongside the CMB Leadership Society, Lawrence currently oversees the curriculum of more than 730 active CMBs.

Outlook for U.S. Mortgage Rates Remains Stable, Housing Crunch Continues, June 4, 2019--Lew Sichelman
The prediction is more of the same, says Mike Frantantoni, chief economist with the Mortgage Bankers Association.

House Approves Much-Delayed $19.1B Disaster Aid Bill

The Hill, June 3, 2019--Juliegrace Brufke
The House on Monday passed a $19.1 billion disaster relief package, finally sending legislation to the White House that had been repeatedly blocked by conservatives over the Memorial Day recess.

GSEs' Uniform Mortgage-Backed Security Launches

MReport, June 3, 2019--Seth Wellborn
On Monday, Fannie Mae and Freddie Mac marked completion of their Single-Security Initiative with launch of the Uniform Mortgage-Backed Security .

FHFA's Calabria Urges Reg Relief for Homebuilders

American Banker, June 3, 2019--Hannah Lang (subscription)
Federal Housing Finance Agency Director Mark Calabria blamed "burdensome" homebuilding regulations at the local level for helping to drive up housing costs nationwide.

Trade Risks Prompt Predictions for Fed Rate Cuts

Wall Street Journal, June 4, 2019--Nick Timiraos (subscription)
President Trump has pursued tariffs and wants the Federal Reserve to cut rates. Economists are projecting that uncertainty created by the administration's actions on the former will prompt the Fed to deliver the latter later this year.

With Volume Growth Elusive, Mortgage Companies Look for Partners

National Mortgage News, June 3, 2019--Brad Finkelstein (subscription)
Mortgage company merger and acquisition activity, on the upswing over the past three years, is expected to intensify as originations stay flat and production costs rise.

The Mall Meltdown Continues

Wall Street Journal, June 3, 2019--Elizabeth Winkler (subscription)
Mall-based retailers reported dismal earnings last week, reminding investors of the sector's fundamental problems.

Residential Finance News

House Committee to Vote Today on FY2020 T-HUD Bill; MBA Urges Support

The House Appropriations Committee is scheduled to meet this morning to consider a Fiscal Year 2020 appropriations bill that would provide FHA with Mortgage Bankers Association-supported staffing and systems upgrades.

Black Knight, CoreLogic Tell Different Home Appreciation Stories

Black Knight, Jacksonville, Fla., said home prices rose by just 1 percent in March, bringing annual appreciation to just 3.8 percent, the first time since 2012 that home prices have fallen below the 25-year average of 3.9 percent.

Defect Risk Down for 1st Time in 8 Months

First American Financial Corp., Santa Ana, Calif., said frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications decreased by 4.2 percent in April from March, marking the first monthly decline since last July.

Commercial/Multifamily News

Report Sees Robust Office Sector Absorption

Despite steadily growing new office supply, robust absorption held the sector's vacancy rate steady at 13.7 percent in April, said Yardi Matrix, Santa Barbara, Calif.

Dealmaker: Blackstone to Buy GLP Industrial Assets for $19B

Blackstone, New York, agreed to acquire 179 million square feet of urban infill logistics assets from Global Logistic Properties, Singapore, in one of the largest-ever private real estate transactions.

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.

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 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.

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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