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Volume 18 | Issue 180 | Wednesday, September 18, 2019

The Lede


Mortgage Applications Flat in MBA Weekly Survey

Mortgage applications barely moved from one week earlier as interest rates jumped back above 4 percent, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending September 13.


Top National News

Life Insurance Companies to Fuel Multifamily Surge in 2020

HousingWire, Sept. 17, 2019--Kelsey Ramírez
Life insurance companies are set to create a surge in multifamily lending in 2020, according to a new study from the Mortgage Bankers Association.

MISMO Seeks Industry Input on New Business Glossary

National Mortgage Professional, Sept. 17, 2019
MISMO 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.

New Home Purchase Mortgage Apps Rise 33 Percent in August

National Mortgage Professional, Sept. 17, 2019
Builder Application Survey data from the Mortgage Bankers Association for August shows mortgage apps for new home purchases increased 33 percent compared to a year ago. Compared to July, applications decreased by 0.2 percent.

Housing Industry Calls for End of QM Patch, DTI Limits

HousingWire, Sept. 17, 2019--Kelsey Ramirez
A rule that allows government-sponsored enterprises Fannie Mae and Freddie Mac to sidestep stricter mortgage underwriting requirements is set to expire in 2021, and while that may seem like a ways away, its pending removal has sparked widespread debate throughout the industry. (MBA mention)

Fed Jumps Into Market to Push Down Rates, a First Since the Financial Crisis

New York Times, Sept. 18, 2019--Jeanna Smialek, Matt Phillips
The Federal Reserve Bank of New York had to spring into action to keep the effective fed funds rate in line after it rose to the very top of the Fed's range of 2 to 2.25 percent.

CFPB's Kraninger Agrees: Her Job Security is Unconstitutional

National Mortgage News, Sept. 17, 2019--Kate Berry (subscription)
Kathy Kraninger, the director of the Consumer Financial Protection Bureau, gave more support Tuesday to the Trump administration's position that the agency she runs exceeds constitutional limits.

Senate Dems Urge CFPB to Extend QM Patch

American Banker, Sept. 17, 2019--Neil Haggerty (subscription)
Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules.

Residential Finance News

The Crime Scene: FBI Provides Update on Fraud

CHICAGO--Kyle Armstrong, Supervisory Special Agent with the Federal Bureau of Investigation, said mortgage fraud is hitting every part of the U.S. in every one of the Bureau's 56 field offices.

Balancing Risk in a Changing Market

CHICAGO--The real estate finance industry is experiencing large swings in volume, in part because of strong movement in mortgage interest rates, which are at more than three-year lows. Many lenders are moving to a more digital process to lower costs, increase efficiency and improve the customer experience.

Commercial/Multifamily News

MBA, Others Urge Terrorism Risk Insurance Act Reauthorization

The Mortgage Bankers Association and more than 100 other organizations representing various business interests urged Congress to reauthorize the Terrorism Risk Insurance Act, which is set to expire at year-end 2020.

Dealmaker: JLL Arranges $193M in Chicago, New York

JLL, Chicago, arranged $193 million for a Chicago mixed-use development and a New York office property.

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 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.

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.

MBA Compliance Essentials Offers Certified Mortgage Compliance Professional Designation Level 1

Earn recognition for your mortgage compliance expertise: MBA Education and the MBA Compliance Essentials program offer the only certification and designation program geared exclusively towards compliance professionals in the mortgage finance industry, the Certified Mortgage Compliance Professional (CMCP).

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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