The Lede

Top National News

MBA Offices Closed July 3, 4
MBA NewsLink Staff Offices of the Mortgage Bankers Association will be closed this Monday, July 3 and Tuesday, July 4 in observance of the Independence Day holiday. MBA NewsLink will publish on Monday, July 3 but will not publish on Tuesday, July 4. On behalf of MBA officers and staff, have a safe and happy holiday.
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Trade Groups Ask FHFA to Extend Input on LEP Request
National Mortgage Professional, June 29, 2017--Phil HallA coalition of industry trade groups has asked the Federal Housing Finance Agency to extend the response period on its proposal to improve language access in mortgage lending and servicing from 45 to 90 days. (MBA mention)
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Federal Banking Agencies Propose Changes to Call Reports
National Law Review, June 29, 2017The Agencies' proposal would adopt the Mortgage Bankers Association method for closed-end installment loans, amortizing loans secured by real estate, any other loan and lease financing receivables with monthly payments, as well as open-end credit with payments scheduled monthly.
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Big Data Tells Mortgage Traders an Amazing Amount About You
Bloomberg, June 29, 2017--Matt SullyGood data is critical for investors in the $9 trillion mortgage bond market. But giving so much mortgage information to investors so quickly is raising fresh concerns among consumer-rights watchdogs that borrowers could suffer a loss of privacy, or even discrimination.
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Mortgage Rates Mixed as Markets Await Direction
Washington Post, June 29, 2017--Kathy Orton"Mortgage rates have been essentially unchanged for the last four weeks," said Mike Fratantoni, MBA chief economist.
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Forestar Terminates Starwood Merger Deal to Go with D.R. Horton’s Stock Purchase Deal
MarketWatch, June 29, 2017--Tomi KilgoreThe announcement comes less than a week after Forestar determined D.R. Horton's deal, which allows it to remain a publicly-traded company, was a "superior proposal" to Starwood's deal to pay $16.00 a share to take the company private.
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U.S. First Quarter Economic Growth Revised Upward on Jump in Consumer Spending
Reuters, June 29, 2017--Lindsay DunsmuirGross domestic product increased at a 1.4 percent annual rate instead of the 1.2 percent reported last month, the Commerce Department said in its final assessment for the period on Thursday.
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Senate Committee Takes First Steps in Making GSE Reform a Key Priority
HousingWire, June 29, 2017--Brena Swanson"Conservatorship of the GSEs has already persisted far longer than was ever intended. And while the Federal Housing Finance Agency has taken important administrative steps during this period, an extended conservatorship is economically and politically unsustainable," MBA President and CEO David Stevens told the Senate Banking Committee.
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GSE Reform Done Right Ensures a Level Playing Field for All
National Mortgage News, June 29, 2017--Hank Cunningham (subscription)The author, who served on the MBA Task Force on a Future Secondary Market, takes issue with investor views on GSE reform and urges the mortgage industry to unify behind common goals.
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Four Issues that Could Trip up Senate Housing Finance Bill
National Mortgage News, June 29, 2017--Ian McKendry (subscription)In a political atmosphere of intense partisan divisions, Republicans and Democrats on the Senate Banking Committee sounded on the same page about how to reform Fannie Mae and Freddie Mac during a panel hearing on Thursday. (MBA mention)
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Here’s Why Small Lenders Should Support GSE Reform
HousingWire, June 29, 2017--Bill CosgroveFormer MBA chairman urges smaller lenders like him to reject notion that GSE reform is bad for them and says failure of Congress to act is their biggest threat.
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Non-QM Is Not The New Subprime
Mortgage Daily, June 29, 2017A new report indicates residential lending to borrowers who don't meet Qualified Mortgage rule requirements is not the same as pre-crisis subprime lending.
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Mortgage Rates Dip to 2017 Low, Likely to Soar
Mortgage Daily, June 30, 2017--Sam GarciaLong-term interest rates on mortgages fell to the lowest level in over seven months. But next week's report is likely to reflect much higher rates.
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Today in MBA Insights
New in today's issue of MBA Insights:  Evaluations are as much a part of the lending arena as the credit underwriting concepts, but when is it appropriate to use this alternative product is of constant debate.
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MBA Education Multifamily Property Inspection Workshop in Chicago July 12-13
MBA Education presents its popular Multifamily Property Inspection Workshop in Chicago July 12-13.
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