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Volume 18 | Issue 98 | Tuesday, May 21, 2019

The Lede


Broeksmit: Housing Finance Reform Entering Critical Phase

NEW YORK--Mortgage Bankers Association President & CEO Robert Broeksmit, CMB, said housing finance reform is "critically important" to the real estate finance industry, to consumers and the American economy.


Top National News

MBA's Broeksmit Seeks Increased Action on Housing Policy Changes

National Mortgage Professional, May 20, 2019--Phil Hall
Bob Broeksmit, president and CEO of the Mortgage Bankers Association, challenged both Congress and federal regulators to ratchet up efforts in enacting sweeping new housing policy changes.

New U.S. Mortgages Seen Rising to $1.682 Trillion in 2019: MBA Chief Economist

Reuters, May 20, 2019--Richard Leong
A modest pickup in home sales this year would help raise issuance of loans for that category to $1.244 trillion from $1.185 trillion last year, Michael Fratantoni told reporters at a press conference during MBA's National Secondary Market conference.

Opinion When Will Non-QM Loans and HELOCs Take Off?

National Mortgage News, May 20, 2019--Christopher Whalen (Free content)
As the Mortgage Bankers Association convenes its annual secondary market conference in New York, one of the big questions on the minds of many mortgage bankers, warehouse lenders and vendors is whether the market for nonagency or non-qualified mortgages, including home equity lines of credit, will really start to grow as an asset class.

How Expertise-on-Demand Can Improve Quality Control for Servicers

HousingWire, May 20, 2019--Angie Derix 
Loan servicers have to navigate a continuously changing mortgage landscape. Perhaps the biggest challenge, especially for small, growing and non-bank servicers, is ensuring that quality control is maintained even when new demands emerge. (MBA mention)

Fed Chairman Powell Warns of Economic Risks From Rising Business Debt

Wall Street Joural, May 20, 2019--Nick Timiraos, Andrew Ackerman (subscription)
Federal Reserve Chairman Jerome Powell said financial regulators must take seriously potential dangers that rising levels of business debt pose to the U.S. economy but said some comparisons to last decade's subprime-mortgage bubble overstate the risks.

CFPB's Assistant Enforcement Chief Resigns

National Mortgage News, May 20, 2019--Kate Berry (subscription)
Kristen Donoghue, the assistant director for enforcement at the Consumer Financial Protection Bureau, has resigned, sources said.

Residential Finance News

Calabria: Housing Finance System Status Quo 'Not an Option'

NEW YORK--Federal Housing Finance Agency Director Mark Calabria reiterated his vow to end the conservatorships of Fannie Mae and Freddie Mac and called for new legislation in Congress to address meaningful housing finance reform.

Vacant Homes Fetch Less Money and Take Longer to Sell

The financial crisis taught mortgage lenders, servicers and policymakers that vacant homes pose major problems-from maintenance, blight, lower neighborhood property values and crime. Now, with the crisis largely behind, a different kind of issue faces vacant properties, said Redfin, Seattle.

Commercial/Multifamily News

Personality Types--and Their Competitive Advantages

LOS ANGELES--Knowing your personality type and those of your co-workers can give you a competitive advantage, behavioral expert Dan Silvert said here at the MBA Commercial/Multifamily Servicing & Technology Conference.

Commercial/Multifamily Briefs

LightBox, New York, acquired Real Capital Markets and Digital Map Products.

Dealmaker: Hunt Real Estate Capital Provides $41M in Freddie Mac Funding

Hunt Real Estate Capital, New York, provided $40.7 million in Freddie Mac funding for multifamily assets in Ohio and California.

MBA News

MBA Risk Management, QA and Fraud Prevention Forum in Chicago Sept. 15-17

The Mortgage Bankers Association's Risk Management, QA and Fraud Prevention Forum takes place Sept. 15-17 at the Sheraton Grand Chicago.

Upcoming MBA Education School of Mortgage Banking I Courses

MBA Education presents its popular School of Mortgage Banking Course I this summer and fall.

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

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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