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Volume 18 | Issue 174 | Tuesday, September 10, 2019

The Lede


MBA Forecasts Record Commercial/Multifamily Mortgage Originations, Multifamily Lending

The Mortgage Bankers Association forecasts commercial and multifamily mortgage bankers will close a record $652 billion of loans backed by income-producing properties this year, 14 percent higher than last year's record volume ($574 billion).


Top National News

Fannie Mae: Declining Mortgage Rates Propel Nation's Home Buying Outlook to New High

HousingWire, Sept. 9, 2019--Alcynna Lloyd
As homebuyer demand rises, the Mortgage Bankers Association indicates that refinance demand is also growing. According to the organization's latest Mortgage Applications Survey, August's refinance volume was more than 150% higher than the same time period in 2018.

Fannie, Freddie Getting Closer to Retaining Their Earnings

Wall Street Journal, Sept. 9, 2019--Kate Davidson (subscription)
Treasury Secretary Steven Mnuchin said Monday he expects an agreement soon to allow Fannie Mae and Freddie Mac to begin retaining their earnings, one of the first steps in the administration's plan to return the mortgage-finance companies to private hands.

Enforcement Actions are Still a Tool in CFPB Arsenal, Kraninger Says

American Banker, Sept. 9, 2019--Hannah Lang (subscription)
The Consumer Financial Protection Bureau is stepping up its enforcement actions after her predecessor had temporarily frozen the agency's ability to use the tool, said Director Kathy Kraninger.

FTC to Block Fidelity's Acquisition of Stewart on Competitive Grounds

National Mortgage News, Sept. 9, 2019--Brad Finkelstein (subscription)
The Federal Trade Commission wants to block the merger of Fidelity National Financial and Stewart Information Services stating the deal would reduce competition for title insurance, including for large commercial real estate transactions.

Beyond "Best Efforts": Why Commercial Real Estate Needs to Catch Up on Diversity

Urban Land magazine, Sept. 9, 2019--Kirk Sikes, Evan Mitchell, Sommer Heyman
In commercial real estate, we are rewarded for staying ahead of the curve and identifying opportunities that others miss. If we refuse to acknowledge the competitive advantage that diversity offers in our pursuit of returns, we are willingly accepting lower yields and additional risk.

Residential Finance News

MISMO Releases Final Remote Online Notarization Standards

MISMO®, the mortgage industry standards organization, released its finalized Remote Online Notarization standards. The RON standards allow the use of audio-visual communication devices to notarize documents in a virtual online environment.

Black Knight: Servicer Retention Rates Improve Significantly Among Rate-Driven Refinance Transactions

Black Knight, Jacksonville, Fla., said falling interest rates and easy access to refinance candidates pushed retention rates up in second quarter, with servicers retaining 24% of refinancing borrowers, the highest such retention rate since late 2017.

Commercial/Multifamily News

Wells Fargo, PNC/Midland Lead MBA 2019 Mid-Year Commercial/Multifamily Servicer Rankings

The Mortgage Bankers Association released its mid-year rankings of commercial and multifamily mortgage servicers' volumes as of June 30, showing Wells Fargo Bank NA, PNC Real Estate/Midland Loan Services, KeyBank NA, Berkadia Commercial Mortgage LLC and CBRE Loan Services with highest volumes.

Dealmaker: Cushman & Wakefield Closes Two Sales Totaling $117M

Cushman & Wakefield, Chicago, negotiated property sales in California and Florida totaling $117 million.

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 Advanced Risk Management Concepts Workshop in Chicago Sept. 15

MBA Education presents a special edition of its Advanced Risk Management Concepts Workshop on Sunday, Sept. 15 in conjunction with the MBA Risk Management, Quality Assurance and Fraud Prevention Forum in Chicago.

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

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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