Not displaying correctly? View in a browser
Volume 18 | Issue 175 | Wednesday, September 11, 2019

The Lede


Mortgage Applications Increase in MBA Weekly Applications Survey

Mortgage applications increased from one week earlier as mortgage interest rates continued to hover at three-year lows, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending September 6.


Top National News

Mortgage Bankers Predict Commercial, Multifamily Will Reach New Highs

National Mortgage News, Sept. 10, 2019--Bonnie Sinnock (subscription)
Lower interest rates are expected to drive financing secured by income-producing properties to new heights by year-end, according to the Mortgage Bankers Association.

Mortgage Bankers Applaud Treasury's Plan for Housing Finance Reform

Financial Regulation News, Sept. 10, 2019--Dave Kovaleski
The Mortgage Bankers Association commended the Treasury Department on its plan to reform the housing finance system. "The reports recognize the need to better coordinate the roles of FHA and the GSEs," said MBA President and CEO Robert Broeksmit, CMB.

Officials Spar with Senators over Plan for Mortgage Giants

Associated Press, Sept. 10, 2019--Marcy Gordon
Trump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would raise home borrowing costs and neglect lower-income homeowners.

Path to a GSE Bill Still Fraught Despite Treasury Plan

National Mortgage News, Sept. 10, 2019--Hannah Lang (subscription)
Senators' examination Tuesday of the Trump administration's housing finance reform plan made two things clear: Lawmakers feel urgency to move legislation, but addressing obstacles that have stalled congressional action for years still eludes them.

Median U.S. Household Income Showed No Growth in 2018

Wall Street Journal, Sept. 10, 2019--Janet Adamy, Paul Overberg (subscription)
American incomes remained essentially flat in 2018 after three straight years of growth, according to Census Bureau figures released Tuesday that offer a broad look at U.S. households' financial well-being.

Average FICO Credit Score Hits New High--Which is Good News for Borrowers and the Economy

Washington Post, Sept. 10, 2019-Michelle Singletary
Since reaching a bottom of 686 in October 2009 during the Great Recession, the national average FICO score has been steadily increasing. Key drivers of the improvement in scores have been the U.S. economic recovery, consumer credit educational efforts and an initiative by the credit bureaus that has led to certain accounts in collections being removed from people's credit files.

New Study Raises Concern on College Graduate DTI Levels

National Mortgage Professional, Sept. 10, 2019--Phil Hall
The average college graduate in 2018 carried a student loan debt of $28,565, according to new data from LendEDU, which noted this debt load can have a serious impact of the young borrowers' debt-to-income ratios.

Fidelity National, Stewart Call of $1.2 Billion Merger after FTC Moved to Block Deal

HousingWire, Sept. 10, 2019--Ben Lane
Just days after the Federal Trade Commission tapped the brakes on the $1.2 billion merger of Fidelity National Financial and Stewart Information Services, the deal that would have combined two of the country's largest title insurance providers is now dead.

Long Hotel Rally Losing Steam as Supply Swells, Business Travel Falls

Wall Street Journal, Sept. 10, 2019--Esther Fung (subscription)
A nearly decade-long rally for the hotel business is showing signs of petering out. Hotel owners in large cities say they are getting squeezed by weaker business-traveler demand, higher labor costs and a crush of new hotel projects that is weighing on room rates.

Residential Finance News

Survey Says New Construction Shortage to Persist Until At Least 2022

New home construction shortages-the bane of current housing market-is likely to remain below historical averages until at least 2022, according to a survey of economists and real estate analysts conducted by Zillow Inc., Seattle, and Pulsenomics LLC, Boston.

CoreLogic Reports 11.4% Decrease in 2Q Mortgage Fraud Risk

CoreLogic, Irvine, Calif., released its quarterly Mortgage Fraud Report, showing an 11.4% year-over-year decrease in fraud risk at the end of the second quarter.

Fannie Mae: Housing Sentiment Inches Higher, Driven by Mortgage Rate Outlook

Fannie Mae, Washington, D.C., said its Home Purchase Sentiment Index increased by 0.1 points in August to 93.8, a new survey high.

Commercial/Multifamily News

CMBS Delinquency Rate Reaches Another Post-Crisis Low

The commercial mortgage-backed securities delinquency rate fell again in August, setting another post-crisis low in the process, reported Trepp LLC, New York.

Commercial/Multifamily Briefs

Private mortgage lender BridgeCore Capital, Beverly Hills, Calif., expanded its commercial loan program to include a complementary second mortgage/mezzanine loan product for borrowers seeking short-term bridge financing on commercial properties.

Dealmaker: Meridian Capital Group Arranges $60M

Meridian Capital Group, New York, arranged $59.5 million in financing for two New York mixed-use properties.

MBA News

MBA Risk Management, QA and Fraud Prevention Forum in Chicago Sept. 15-17

The Mortgage Bankers Association's Risk Management, QA and Fraud Prevention Forum takes place Sept. 15-17 at the Sheraton Grand Chicago.

MBA Education/Compliance Essentials Managing the Risks of CFPB and State Examinations Sept. 15

MBA Education and Compliance Essentials present a workshop, Managing the Risks of CFPB and State Examinations, on Sunday, Sept. 15 at the Sheraton Grand Chicago, in conjunction with the MBA Risk Management, QA and Fraud Prevention Summit.

MBA Education Foundational Elements of Mortgage Servicing Rights Workshop in San Diego Nov. 19

MBA Education presents Foundational Elements of Mortgage Servicing Rights Workshop, at the Marriott Marquis San Diego Marina on Tuesday, Nov. 19 in conjunction with the MBA Accounting and Financial Management Conference.

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

MBA NewsLink, a daily electronic publication, is a member benefit free to employees of MBA member companies, and available by paid subscription to non-members. For membership information, click here.

If this email has been forwarded to you, please visit our web site to subscribe.

The links at the end of each abstract are to the publisher, publication, or article. Some links may require registration or subscription.

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