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Volume 18 | Issue 181 | Thursday, September 19, 2019

The Lede


CFPB to Enhance Consumer Complaint Database

The Consumer Financial Protection Bureau announced it will continue publication of consumer complaints, data fields and narrative descriptions through the Bureau's Consumer Complaint Database while making several enhancements to the information available to users of the database.


Top National News

Mortgage Demand From Buyers Jumps Just as Interest Rates Spike

CNBC, Sept. 18, 2019--Diana Olick
Total mortgage application volume was flat for the week, down a slight 0.1%, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was still 67% higher than the same week one year ago, when rates were much higher.

Fed Chairman Jerome Powell Masters the Art of Saying Nothing

Wall Street Journal, Sept. 19, 2019--Greg Ip (subscription)
By refusing to elaborate on what the central bank will do next, Powell leaves less room for misinterpretation and forces market to think for itself.

Led by Trump Appointee, CFPB is Back in the Enforcement Business

National Mortgage News, Sept. 18, 2019--Kate Berry (subscription)
The Consumer Financial Protection Bureau has ratcheted up investigations and enforcement actions in the past few months, an apparent shift by the agency under Director Kathy Kraninger, who had initially signaled that supervision would be the primary focus in her tenure.

Mortgage Investors Need Not Fear Supply Surge From New Housing

Bloomberg, Sept. 18, 2019--Christopher Maloney
Mortgage investors are unlikely to see a net supply surge even should interest rates continue to move lower, if only because the pace of new home construction is far slower than it used to be.

This Key Construction Indicator Just Tanked

CNBC, Sept. 18, 2019--Diana Olick
Demand for commercial real estate design services plummeted into negative territory in August, after already soft scores in July.

Residential Finance News

August Housing Starts Jump 12.3%

August housing starts rose by 12.3 percent and by 6.6 percent from a year ago, HUD and the Census Bureau reported yesterday.

Fed Lowers Interest Rates

The Federal Open Market Committee, as expected, lowered the federal funds rate by 25 basis points following its policy meeting yesterday.

FHFA Ends Mortgage Servicing Rights Financing Pilot Program

The Federal Housing Finance Agency yesterday announced the end of the Mortgage Servicing Rights financing pilot program for Fannie Mae and Freddie Mac.

Commercial/Multifamily News

Single-Family Rent Growth Slips

CoreLogic, Irvine, Calif., said rent prices in single-family rental properties increased 2.9 percent year-over-year in July, down slightly year over year.

Dealmaker: Walker & Dunlop Arranges $27M For Hotel, Multifamily

Walker & Dunlop, Bethesda, Md., structured $27.4 million for hotel and apartment assets in Florida and Delaware.

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 Fundamentals and Best Practices in Mortgage Accounting in San Diego Nov. 19

MBA Education presents a half-day workshop, Fundamentals and Best Practices in Mortgage Accounting, at the Marriott Marquis San Diego Marina on Tuesday, Nov. 19 in conjunction with the MBA Accounting and Financial Management Conference.

Upcoming MBA Education School of Mortgage Banking III Courses

MBA Education presents its School of Mortgage Banking Course III, with sessions scheduled for this fall and winter.

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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