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‘Continuity and Consistency’ Fortify Freddie Mac’s 2Q Earnings
National Mortgage News, July 31, 2019--Paul Centopani (subscription)Freddie Mac continues to churn out steady financial returns, with the growth in first-time home buyers and credit risk transfers providing the GSE stable footing when a recession comes, according to new CEO David Brickman.
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Mortgage Applications Fall for the Third Straight Week, Despite Lower Interest Rates
CNBC, July 31, 2019--Diana OlickOverall volume for mortgage applications fell 1.4% last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was still 35% higher than a year ago, when interest rates were significantly higher.
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Fiserv Completes Purchase of First Data
HousingWire, July 31, 2019--Jessica GuerinFirst Data is now Fiserv, the company announced Wednesday, revealing that it has officially completed its $22 billion acquisition of the payments giant to create what will no doubt be a fintech monolith.
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2019 Woman of Influence: ​​​​​​​Susan Stewart
HousingWire, Aug. 1, 2019An industry veteran with nearly 30 years in the mortgage business, Susan Stewart is the CEO of SWBC Mortgage, a Texas-based mortgage lender.
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Tapping Homes for Cash to Get Tougher Under New FHA Limits
Wall Street Journal, Aug. 1, 2019--Ben Eisen (subscription)The Federal Housing Administration, which insures loans for mostly first-time buyers, plans to announce Thursday it will limit cash-out refinancings in its program. Borrowers will be able to pull cash out only when the new loan amounts to 80% of the value of the home or less, down from 85%.
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HUD Plan Would Raise Bar for Claims of Fair Lending Abuse
National Mortgage News, July 31, 2019--Hannah Lang (subscription)Under a HUD proposal that circulated Wednesday but has not officially been unveiled, a consumer would have to follow a more rigorous five-step framework to demonstrate that discrimination occurred. The "disparate impact" doctrine can be used to punish lenders for discriminatory effects even if none were intended.
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CMBS Issuance Focuses on ‘Bulletproof’ Retail Loans
National Real Estate Investor, July 31, 2019--Beth Mattson-TeigInvestors are getting increasingly concerned about the outlook for retail-backed commercial mortgage-backed securities 2.0 loans.
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MBA News

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.
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