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Volume 18 | Issue 195 | Wednesday, October 09, 2019

The Lede

 

Mortgage Applications Up Again in MBA Weekly Survey

Mortgage applications rose for the second straight week, as key interest rates fell well below 4 percent, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending October 4.

 

Top National News

 
Jumbo Loans Drive Decrease in Mortgage Credit in September

HousingWire, Oct. 8, 2019--Kelsey Ramírez
Mortgage credit availability loosened in September, driven by an increase in jumbo loans, the Mortgage Bankers Association's Mortgage Credit Availability Index reported. The index analyzes data from Ellie Mae's AllRegs Market Clarity business information tool.

Recession Coming? Don't Blame Housing

NBC News, Oct. 8, 2019--Martha C. White
Housing triggered the last recession. This time it's doing well, but not well enough to stop the next downturn. (MBA mention)

This Tax Break for First-Time Home Buyers Could Keep the Housing Market Afloat

MarketWatch, Oct. 9, 2019--Sanjiv Dav
The author, with Caliber Home Loans, says federal tax relief for new homeowners would help millennials and support prices. (MBA mention)

Trump to Curb Use of Federal Guidance in Issuing Regulations

Wall Street Journal, Oct. 8, 2019--Andrew Restuccia (subscription)
President Trump is planning to sign a pair of executive orders on Wednesday meant to limit the use of a tool that the administration argues circumvents the federal rule-making process, according to administration officials.

Pelosi, Waters Defend CFPB's Constitutionality in Supreme Court Brief

National Mortgage News, Oct. 8, 2019--Kate Berry (subscription)
Pelosi and Waters, both California Democrats, filed an amicus brief this week defending the CFPB's single-director leadership structure and language in the Dodd-Frank Act that states the bureau's director can only be removed by the president "for cause."

Federal Reserve to Announce Measures to Increase Supply of Bank Reserves

Wall Street Journal, Oct. 8, 2019--Nick Timiraos (subscription)
The Federal Reserve will soon increase its purchases of short-term Treasury securities in order to avoid any recurrence of the unexpected strains experienced in money markets last month, Fed Chairman Jerome Powell said on Tuesday.

Education Needed to Boost Non-QM Lending Even With Patch's End

National Mortgage News, Oct. 8, 2019--Brad Finkelstein (subscription)
Non-qualified mortgage originations have been on a growth spurt the last two years, growth that has been underpinned by standardization of product terminology and processes that made it easier for market participants to gain a working knowledge of the options available to them.

Residential Finance News

 
FundingShield Receives MISMO Software Certification for Wire Fraud Prevention Technology

MISMO®, the mortgage industry standards organization, recognized FundingShield, an industry leading innovator within the mortgage fintech industry, with its Premiere Level Certification for their wire fraud prevention software.

MBA Washington Report

In this week's Washington Report, MBA Associate Vice President of Political Affairs Alden Knowlton discusses developments on Capitol Hill and in Washington, D.C.

Administration Nominates Brian Montgomery as HUD Deputy Secretary

The White House yesterday nominated Brian Montgomery to be HUD Deputy Secretary.

CoreLogic: Mortgage Delinquency Rate Falls

CoreLogic, Irvine, Calif., reported 3.8 percent of mortgages were in some stage of delinquency in July, down from 4.1 percent a year ago.

Commercial/Multifamily News

 
CRE Prices Grow, Volume Slows

U.S. commercial properties' annual price growth increased in August even as deal volume slid for a second consecutive month, Real Capital Analytics and CoStar reported.

Dealmaker: NorthMarq Closes $37M in Retail, Multifamily

NorthMarq Capital, Minneapolis, closed $36.8 million in retail and multifamily transactions in Florida and Arizona.

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.

Lykken on Lending Features MBA's Marcia Davies and mPowering You Summit

This week's episode of Lykken on Lending features MBA COO Marcia Davies, who discusses mPowering You, MBA's all-day Summit for Women in Real Estate Finance, taking place Saturday, Oct. 26 in Austin, Texas.

Upcoming MBA School of Mortgage Banking II Courses

MBA Education presents its popular School of Mortgage Banking Course II.

Make Your Voice Heard through MBA Mortgage Action Alliance

The Mortgage Action Alliance is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association.

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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One Voice. One Vision. One Resource. The Mortgage Bankers Association  (MBA) is the national association representing the entire real estate finance industry. For more information visit us at mba.org.