The Lede

July Mortgage Credit Availability Decreases
Mortgage credit availability decreased in Jul, according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association that analyzes data from Ellie Mae's AllRegs Market Clarity business information tool.
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Top National News

Mortgage Refinances Spike 12% on Big Rate Drop, But Homebuyers Pull Back Again
CNBC, Aug. 7, 2019--Diana OlickTotal mortgage application volume rose 5.3% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 46.5% higher than a year ago, when rates were significantly higher.
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Black Knight’s Earnings Down on Hit from Dun & Bradstreet Investent
National Mortgage News, Aug. 7, 2019--Brad Finkelstein (subscription)Black Knight's second-quarter earnings dropped 20% from the previous year as it took a hit from its indirect investment in Dun & Bradstreet, offsetting a 7% increase in revenue.
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Former Freddie CEO: Trump’s Treasury Sees GSE Reform as ‘Mostly Happened’
HousingWire, Aug. 7, 2019--Kathleen HowleyIn a 17-page paper published on Monday, "GSE Reform: None or Mostly Done?", Former Freddie Mac CEO Donald Layton reveals a conversation he had a few months ago in a meeting with an unnamed senior official in the U.S. Treasury who told him: "GSE reform has already mostly happened."
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Falling Yields Rock U.S. Mortgage Bond Market
Reuters, Aug. 7, 2019--Richard LeongSome $8.4 trillion in mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae have been rocked by the swift decline in bond yields on worries that a wave of mortgage refinancing would erode the value of these bonds. (MBA mention)
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Could There Ever Be Negative Long-Term Mortgage Rates in the U.S.?
National Mortgage News, Aug. 7, 2019--Bonnie Sinnock (subscription)Falling rates: The phrase is music to a mortgage originator's ears. But is it possible, even when it comes to the volume stimulating effects that a favorable rate environment brings, for there to eventually be too much of a good thing?
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Mall Landlords Weigh Becoming Lenders to Blunt Retail Apocalypse
Bloomberg, Aug. 7, 2019--Laruen Coleman-Lochner, Eliza Ronalds-HannonMall landlords accustomed to offering rent reductions to ailing retailers are mulling a new strategy to forestall the industry's collapse: positioning themselves as lenders to tenants struggling to stay afloat.
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Residential Finance News

ATTOM: Foreclosure Filings Down 18% in First Half of Year
ATTOM Data Solutions, Irvine, Calif., reported an 18% drop in U.S. foreclosure filings in the first six months of the year and an 82 percent decline from the peak of foreclosures.
Residential Briefs
LendEDU, Hoboken, N.J., released the first part of a two-part study on trends among current Millennial homeowners, noting this generation often pays for private mortgage insurance, in addition to leaving little wiggle room to meet monthly mortgage payments.
More Than Half of Homebuyers, Sellers Oppose Housing Density; a Quarter Support
Redfin, Seattle, released a survey reporting homebuyers and sellers are nearly twice as likely to oppose the building of dense housing in their neighborhood than they are to support it.

Commercial/Multifamily News

MBA News

Upcoming MBA Education School of Mortgage Banking I Courses
MBA Education presents its popular School of Mortgage Banking Course I this summer and fall.
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