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Volume 18 | Issue 186 | Thursday, September 26, 2019

The Lede


MBA: 2018 Multifamily Lending Jumped 19% to Record High $339.2 Billion

Favorable market conditions helped spur a 19 percent increase in multifamily lending in 2018 to a new high in dollar volume, according to the Mortgage Bankers Association's annual report of the multifamily lending market.


Top National News

Recognizing Women's Voices in Mortgage

DSNews, Sept. 25, 2019--Seth Welborn
Five Star honored the mortgage industry's female leaders Wednesday at the Keystone Awards at the Women in Housing Leadership Banquet. This year, the banquet was a joint presentation of Five Star and mPower, the Mortgage Bankers Association's organization dedicated to advancing and supporting women professionals.

Higher Interest Rates Send Weekly Mortgage Applications Tanking 10%

CNBC, Sept. 25, 2019--Diana Olick
Higher rates over the last two weeks send mortgage applications into a slide, according to the Mortgage Bankers Association. Applications to refinance a loan, which are highly rate-sensitive, fell 15 percent for the week. Purchase mortgage applications fell 3 percent for the week but were a solid 9 percent higher than a year ago.

Mortgage Fraud Risk Plummets Amid A Drop In Interest Rates

Forbes, Sept. 25, 2019--Brenda Richardson
After steadily increasing since late 2016, mortgage fraud risk plummeted by the end of the second quarter of 2019 thanks to lower interest rates that ushered in an influx of low-risk refinance transactions, according to a new report by data and analytics provider CoreLogic. The market also benefited from homes being bought by iBuyers.

New York Fed Boosts Size of Repurchase Operations

Wall Street Journal, Sept. 25, 2015--Daniel Kruger (subscription)
The Federal Reserve Bank of New York said Wednesday it would increase the size of scheduled operations to provide short-term cash loans to financial firms.

Most First-Time Homebuyers Said Process Tougher Than It Should Be

National Mortgage News, Sept. 25, 2019--Brad Finkelstein (subscription)
More than half of recent, as well as prospective, first-time homebuyers said purchasing a house was more difficult than it should be, according to a survey for Framework, an organization that assists new homeowners.

Fitch: End of QM Patch Could Drive RMBS Losses

HousingWire, Sept. 25, 2019--Kelsey Ramirez
High loan-to-value loans could drive losses in residential mortgage backed securities as the Qualified Mortgage Patch expires, according to a new report from Fitch Ratings.

Residential Finance News

MBA Mortgage Market Update

MBA Associate Vice President of Public Affairs Rob Van Raaphorst breaks down the MBA Weekly Applications Survey for the week ending Sept. 20.

August Home Sales Beat Expectations

New home sales beat expectations in August, increasing by 7.1 percent from July and 18 percent from a year ago, HUD and the Census Bureau reported yesterday.

BofA Survey: Americans Prefer Mortgage over Rent

Most Americans prefer a mortgage payment to paying rent monthly, said Bank of America, Charlotte, N.C., in its yearly Homebuyer Insights Report.

Residential Briefs

LBA Ware, Macon, Ga., launched LimeGear, a turnkey business intelligence platform designed to help mortgage lenders leverage their data in a more consistent, insightful and actionable way.

Commercial/Multifamily News

CRE Volume Bounces Back After First Quarter Slowdown

While commercial real estate deal volume dropped in the first quarter, it bounced back in the second, according to new reports.

Dealmaker: NKF Sells $152M New Jersey Life Sciences Campus

Newmark Knight Frank, New York, sold the New Jersey Center of Excellence in Bridgewater, N.J. on behalf of CrossHarbor Capital Partners, Boston, and Advance Realty Investors, Bedminster, N.J.

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 Expands Path to Diversity Scholarship Program Eligibility to Select Conferences

The Mortgage Bankers Association announced scholarships awarded under its popular Path to Diversity (P2D) Scholarship Program can now also be used towards six upcoming MBA conferences where attendees can obtain Continuing Professional Education (CPE), Continuing Legal Education (CLE) or Society of Human Resource Management (SHRM) credits. The scholarships were previously only available for courses offered by MBA Education.

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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