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Volume 18 | Issue 169 | Tuesday, September 03, 2019

The Lede

 

MBA Advocacy Update

Many agencies dropped significant rulemakings at the end of July that are keeping MBA staff hard at work on numerous comment letters--the QM Patch; Ginnie Mae stress testing; the HUD Disparate Impact rule; and the revised FHA Annual Certification, to name a few. And we continue to wait on the public release of the administration's blueprint on housing finance.

 

Top National News

 
Mortgage Lenders Saw Average Profit Per Loan Rise in the Second Quarter

Mortgage Orb, Aug. 30, 2019--Patrick Barnard
Mortgage lenders reported a net gain of $1,675 on each loan they originated in the second quarter, up from $285 per loan in the first quarter, according to the Mortgage Bankers Association's Quarterly Mortgage Bankers Performance Report.

HW 2019 Insider: Alicia Roundy

HousingWire, Sept. 3, 2019
Alicia Roundy is constantly pushing the Mortgage Bankers Association to evolve from a digital marketing perspective, and widening its exposure through leadership on social media and email marketing.

10 Steps to Housing Finance Reform

MReport, Sept. 1, 2019--Brian O'Reilly
While the public debate has often envisioned and emphasized the need for legislative action, that avenue has been, and continues to be, an uphill battle in an unprecedented partisan political landscape. Still, stable growth in the housing market, strong employment, and the potential for rising interest rates point to the increasing need to establish a "new normal" for housing finance. (MBA mention)

Measuring Increases in Mortgage Debt

MReport, Aug. 30, 2019--Seth Welborn
Mortgage debt is at an all time high as home prices rise to record levels, according to a report from HowMuch.net.

U.S. Mortgage Originations Fell 12.6% Last Year Amid Higher Rates

Reuters, Aug. 30, 2019--Howard Schneider
U.S. home loan originations fell 12.6% last year as the Federal Reserve raised interest rates, pushing borrowing costs higher, and new tax laws capped the deductibility of mortgage interest payments, new government data showed on Friday.

Risky Seller Financing Flourishes Where Homes Are Cheapest

Wall Street Journal, Aug. 30, 2019--Ben Eisen (subscription)
"Contracts for deed," prone to abuse, are often only choice for buyers shut out of mortgage market.

Odd Lots: Cash, Apocalypse, Worries

UExpress, Aug. 30, 2019--Lew Sichelman
A new study found buyers with post-closing liquidity of three months or more were five times less likely to default on their mortgages.

Residential Finance News

 
MBA Chart of the Week: IMB Quarterly Pre-Tax Net Production Profits

Seasonality is part of the mortgage business. Based on MBA's Quarterly Mortgage Bankers Performance Report (the second quarter 2019 report was released this week), independent mortgage banks tend to have higher profitability in the second and third quarters of the year because of the onset of the spring home buying season and subsequent increase in purchase volume.

STRATMOR: Online Testimonials More Valuable to Lenders in Middle of Sales Process than at Start

STRATMOR Group, Greenwood Village, Colo., said as competition for the mortgage borrower's business heats up, a growing number of lenders are looking to online testimonials to help bring in sales--but for those testimonials, timing is everything.

The Week Ahead

Welcome back from the Labor Day holiday and welcome to the unofficial start to fall. Put you white shoes away until next Memorial Day.

Commercial/Multifamily News

 
CRE Properties Make Energy-Efficiency Progress

The commercial real estate industry has made significant progress over the past 10 years in reducing carbon emissions and energy consumption while increasing asset value, reported the Urban Land Institute, Washington, D.C.

Dealmaker: MetLife Loans $308M on Office, Multifamily Assets

MetLife, New York, provided $308 million for office and apartment properties in Utah, Seattle and New York.

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.

Apply Now for MBA Path to Diversity Scholarship Program

The Path to Diversity Scholarship Program recognizes existing industry professionals who are seeking to advance their careers through continuing education. Recipients receive a voucher to cover course registration fees, up to a maximum of $2,000, for popular MBA Education courses and designation programs.

Save on FedEx Shipping through MBA Member Advantage Program

Through the MBA Member Advantage Program, you can save up to 29 percent on small package shipping with FedEx.

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.