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Volume 18 | Issue 192 | Friday, October 04, 2019

The Lede

 

Dispose Distress Early to Minimize Loss Severity

A new study of distressed property dispositions between 2003 and 2017 by Fannie Mae and academic researchers finds loss severity on nonperforming loans is lower when properties are disposed of early, before a lender takes ownership.

 

Top National News

 
Mortgage Rates Hold Steady But Could Be Primed to Move Lower

Washington Post, Oct. 3, 2019--Kathy Orton
Mortgage rates barely budged this week despite downward pressure from lackluster economic news. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average ticked up to 3.65 percent with an average 0.6 point. (MBA mention)

A Recession is Coming? Nobody Told Housing Stocks

MarketWatch, Oct. 3, 2019--Chris Matthews
Data on the housing market has been trending in the opposite direction, with new home construction rising to the fastest pace since 2007 in August, and pending home sales trending up as interest rates fall, improving affordability.

17% of Young Homebuyers Regret Their Purchase, Zillow Survey Shows

Reuters, Oct. 3, 2019--Lucia Mutikani
Coming on the heels of news this week that manufacturing activity plunged to a more than 10-year trough in September, the survey from the Institute for Supply Management on Thursday increased the risks of a recession. For now, a solid labor market is keeping the economy on a moderate growth path. (MBA mention)

Fannie Mae and Freddie Mac Now Appear to Be Here to Stay. How Did that Happen?

HousingWire, Oct. 3, 2019--Ben Lane
When the federal government announced earlier this week that it would allow Fannie Mae and Freddie Mac to rebuild a portion of their capital reserves to a total of $45 billion combined as part of a plan to exit conservatorship, the message was clear: The government-sponsored enterprises are back and they're not likely to go away any time soon.

CFPB Announces New Members of Advisory Committees

HousingWire, Oct. 3, 2019--Kelsey Ramirez
The appointments include new members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council and Academic Research Council. The experts advise the CFPB leadership on a range of consumer financial issues and emerging market trends.

How Mortgage Servicers Can Prepare For the Next Downturn

Mortgage Orb, Oct. 4, 2019--Angela Hurst
To ensure sustainability during a market downturn, mortgage servicers must closely examine their current infrastructure, services and tools to ensure they provide the ability to not only track processes, but also allow users to automatically analyze the viability of different scenarios.

Report Forecasts Housing Construction Slowdown Through 2021

National Mortgage Professional, Oct. 3, 2019--Phil Hall
Inventory problems related to construction costs will hamper the single-family housing market, even though the economy will continue to remain solid, according to Urban Land Institute's latest Real Estate Economic Forecast.

Another Fed Rate Cut Is Expected After Weak Economic Data

New York Times, Oct. 3, 2019--Jenna Smialek
Top Federal Reserve officials have said they are open-minded about whether additional interest rate cuts will be necessary in 2019, but recent economic data are putting that equanimity to the test.

U.S. Recession Risks Up as Services Growth Hits Three-Year Low

Reuters, Oct. 3, 2019--Lucia Mutikani
Coming on the heels of news this week that manufacturing activity plunged to a more than 10-year trough in September, the survey from the Institute for Supply Management on Thursday increased the risks of a recession. For now, a solid labor market is keeping the economy on a moderate growth path.

Residential Finance News

 
MBA Now with Bill Killmer

In this MBA Now video, MBA Chief Lobbyist Bill Killmer discusses recent developments in Washington.

MBA Mortgage Market Update

MBA Vice President of Public Affairs Rob Van Raaphorst breaks down the MBA Weekly Applications Survey for the week ending Sept. 27.

Millennials Moving More Frequently Than Previous Generations

Millennials are moving more often and living in their homes for a shorter period than previous generations, said Zillow Inc., Seattle.

Commercial/Multifamily News

 
Single-Tenant Net Lease Cap Rates Fall Again

Single-tenant net lease cap rates fell across the board in the third quarter, reported The Boulder Group, Wilmette, Ill.

Commercial/Multifamily Briefs

The White House Opportunity and Revitalization Council introduced OpportunityZones.gov, a new information hub for the Opportunity Zones initiative.

Dealmaker: IPA Brokers $147M in Multifamily Sales

Institutional Property Advisors, Calabasas, Calif., brokered $147.1 million in California and Arizona apartment property sales.

MBA News

 
MBA Annual19 Comes to Austin, Texas Oct. 27-30

The Mortgage Bankers Association's Annual Convention & Expo takes place Oct. 27-30 at the Austin Convention Center in Austin, Texas. 

MBA Education Webinars Now Free to MBA Members

Beginning October 1, all MBA member companies in good standing will have more MBA benefits to celebrate, including complimentary access to all online education webinars and webinar recordings.

MBA Education Webinar: Navigating the LIBOR Transition Within the CRE Industry Oct. 8

MBA Education offers a free webinar, Navigating the LIBOR Transition Within the CRE Industry, on Tuesday, Oct. 8 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 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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