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Volume 18 | Issue 190 | Wednesday, October 02, 2019

The Lede


Mortgage Applications Bounce Back in MBA Weekly Survey

Mortgage applications increased from one week earlier as key interest rates fell back below 4 percent, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending September 27.


Top National News

There’s a Tech Revolution Happening in Commercial Real Estate

Scotsman Guide, Oct. 1, 2019--Victor Whitman
Scotsman Guide interviewed MBA Vice President of Industry Technology Rick Hill about the tech revolution happening right now in commercial real estate.

Kraninger's Stance on CFPB Constitutionality Puts Rules in Limbo

National Mortgage News, Oct. 1, 2019--Kate Berry (subscription)
By declaring that the Consumer Financial Protection Bureau is unconstitutional, CFPB Director Kathy Kraninger has potentially opened a floodgate of litigation against the agency.

Freddie Sees Stronger Housing Market This Fall

Mortgage Professional America, Oct. 1, 2019--Jann Swanson
Despite expecting an economic slowdown as reflected in the gross domestic product, Freddie Mac published a pretty upbeat September forecast as the month, the third quarter, and the government's fiscal year ended on Monday.

CoStar Agrees to Buy Hotel Data Firm STR

Wall Street Journal, Oct. 1, 2019--Peter Grant (subscription)
CoStar Group Inc., which has built a multibillion-dollar business out of selling commercial real estate data, is making its biggest push so far into the hotel business by agreeing to pay $450 million in cash for STR, one of the world's largest hotel data firms, the companies said Tuesday.

Most First-Time Buyers Prefer Remote Financial Literacy Counseling

National Mortgage Professional, Oct. 1, 2019--Phil Hall
When it comes to financial counseling for newcomers to the homebuyer market, the majority of first-time buyers prefer to receive their information remotely rather than during in-person courses, according to a new study from Abt Associates.

Manhattan Resale Home Prices Drop Most Since '11 as Sellers Cave

Bloomberg, Oct. 2, 2019--Oshrat Carmiel
Resale prices for Manhattan apartments tumbled the most in more than eight years, pushed down by buyer demands for discounts in a market swamped with choices.

U.S. Manufacturing Dives to 10-Year Low as Trade Tensions Weigh

Reuters, Oct. 1, 2019--Lucia Mutikani
U.S. manufacturing activity tumbled to a more than 10-year low in September as lingering trade tensions weighed on exports, further heightening financial market fears of a sharp slowdown in economic growth in the third quarter.

Residential Finance News

MBA Opens Doors Foundation Kicks Off 2020 Fundraising Season with More Than $1.8 Million in Donations

The MBA Opens Doors Foundation announced it received $1.81 million in corporate and individual donations during its two-day FY 2020 fundraising campaign in late August.

MBA Education Path to Diversity Scholar Profile: Mario Gonzalez

Mario Gonzalez is a Loss Mitigation Underwriter with Colonial Savings, Fort Worth, Texas.

People in the News

Credit Plus, Salisbury, Md., announced Julie Piepho, CMB, joined its leadership team as Executive Strategic Advisor. She will engage in speaking opportunities while consulting with the firm on various research and product development initiatives.

Commercial/Multifamily News

Falling Rates, Increasing NOIs Boost Apartment Investment

The apartment investment environment improved significantly in the second quarter, Freddie Mac reported.

Dealmaker: Greystone Provides $50M for Multifamily

Greystone, New York, provided $50 million secured by apartment assets in Arizona and Texas.

MBA News

mPowering You: MBA's Summit For Women in Real Estate Finance in Austin Oct. 26

mPowering You: MBA's Summit For Women in Real Estate Finance, takes place Saturday, Oct. 26 at the Austin Convention Center in Austin, Texas.

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.

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.

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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