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Volume 18 | Issue 179 | Tuesday, September 17, 2019

The Lede


Broeksmit: Industry Must Be Voice to Balance Risk, Regulation

CHICAGO--The real estate finance industry faces a daunting challenge to balance risk in a rapidly changing market. Here at the Mortgage Bankers Association's Risk Management, QA and Fraud Prevention Forum, MBA President & CEO Robert Broeksmit, CMB, addressed these challenges and how MBA is helping its members meet them.


Top National News

Bill for Transit-Oriented Affordable Housing Gets Support from MBA

National Mortgage News, Sept. 16, 2019--Paul Centopani (subscription)
With the ongoing issue of the affordable housing crisis, the Mortgage Bankers Association got behind the Build More Housing Near Transit Act, a bipartisan bill introduced in the House.

Digital Mortgage Lender Seeks to Hire 1,000 in Charlotte Over Next Five Years

Charlotte Business Journal, Sept. 16, 2019--Ashley Fahey, Caroline Hudson
A fast-growing digital mortgage lender has ambitious hiring goals for its new office in Charlotte, N.C. New York-based seeks to hire 100 people by year's end and 1,000 within five years.

Average FICO Score Stands at Record High

HousingWire, Sept. 16, 2019--Kathleen Howley
The average FICO score stands at 706, a record high. That compares with 686 at the 2009 end of the Great Recession and it eclipses the 690 at the 2006 height of the housing bubble.

Average U.S. Rent Climbs to $1,472 in August

HousingWire, Aug. 16, 2019--Alcynna Lloyd
America's rental prices continued to grow in August, as RentCafé indicates the nation's average rent increased $47 from the previous year.

Why Fintech Rollouts are Magnets for Fraud

American Banker, Sept. 16, 2019--Penny Crosman (subscription)
It's a familiar scenario: A financial company offers a new high-tech service, and hackers immediately begin trying to game the system and drain money out of it.

Opportunity Zones Catch the Eye of CRE Investors

Commercial Observer, Sept. 16, 2019
Meridian Capital reported 11 percent of CRE owners surveyed said they have used opportunity zone tax incentives as part of their financing stack during the last two years.

Residential Finance News

MBA Letters Address QM Patch, Ginnie Mae Stress Tests

The Mortgage Bankers Association, in several letters yesterday, offered recommendations to the Consumer Financial Protection Bureau on the soon-to-expire Qualified Mortgage "Patch" and to Ginnie Mae on its proposed stress testing framework.

MBA: August New Home Purchase Applications Up 0.2% from July; Up 33% from Year Ago

The Mortgage Bankers Association's Builder Application Survey data for August shows mortgage applications for new home purchases increased by 0.2 percent from July but by 33 percent from a year ago.

MISMO Seeks Input on New Business Glossary

MISMO®, the mortgage industry standards organization, is seeking industry feedback during a 60-day public comment period on its new Business Glossary, an online educational resource of industry business terms and data point descriptions, created for mortgage professionals.

Commercial/Multifamily News

MBA Survey: Life Insurance Cos. Could Fund Additional $10B in Multifamily Lending in 2020

Life insurance companies could increase their multifamily lending volumes by $10 billion in 2020 from 2018 volumes, the Mortgage Bankers Association reported.

Commercial/Multifamily Briefs

Blackstone, New York, closed its latest global real estate fund, Blackstone Real Estate Partners IX, at $20.5 billion of total capital commitments, making it the largest current real estate fund.

Dealmaker: Newmark Realty Capital Secures $47M

Newmark Realty Capital, San Francisco, secured $47 million for Idaho, California and Texas assets.

MBA News

Keith Urban Highlights Concert MBA at Annual 19

Keith Urban, 2018 Country Music Association and Academy of Country Music Entertainer of the Year and four-time Grammy Award winner, highlights Concert MBA at Annual19, the Mortgage Bankers Association's Annual Convention & Expo, Oct. 27-30 in Austin, Texas.

MBA Education Free Webinar: Mortgage Accounting II: Loan Level Accounting Sept. 18

MBA Education presents a free webinar, Mortgage Accounting II: Loan Level Accounting Register Now, on Wednesday, Sept. 18 from 2:00-3:30 p.m. ET.

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

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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