The Lede

Washington Post, June 13, 2019--Kathy OrtonAfter more than a month of declines, mortgage rates paused their descent ahead of next week's Federal Reserve meeting. (MBA mention)

World Property Journal, June 13, 2019--Monsef RachidAccording to the Mortgage Bankers Association's latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report, the level of commercial/multifamily mortgage debt outstanding in the U.S. rose by $45.4 billion (1.3 percent) in the first quarter.

Wall Street Journal, June 13, 2019--Kate Davidson (subscription)More than three quarters of economists surveyed by The Wall Street Journal expect the Federal Reserve's next move will be to lower interest rates, which most expect to happen by the fall.

Mortgage Media, June 13, 2019A coalition of housing groups came together to comment jointly to the Consumer Financial Protection Bureau (CFPB) regarding its plans to change regulations about data collection under the Home Mortgage Disclosure Act, including on its impact to commercial and multifamily loans. (MBA mention)

HousingWire, June 13, 2019--Jessica GuerinThe bill - H.R. 3141, "The FHA Loan Affordability Act of 2019" - would repeal FHA's policy that requires borrowers to pay mortgage insurance for the life of the loan. Instead, payments would cease when the outstanding loan balance reaches 78% of the home's original value.

Bloomberg, June 13, 2019--Caleb MelbyPresidential candidate Elizabeth Warren and another Democratic senator are asking whether Kushner Cos. "may have received special treatment" on a U.S.-government-backed loan of about $800 million.

National Mortgage Professional, June 13, 2019--Phil HallThe Mortgage Bankers Association announced a strategic initiative aimed at creating affordable housing partnerships in the policy and business arenas, with the goal of promoting more sustainable, affordable homes for purchase and rental by underserved people and communities.

USA Today, June 13, 2019 (Editorial)The editorial asserts while the concept of allowing seniors to unlock the wealth they have in their homes is sound, the reality is that reverse mortgages add complexity and risk at a time in people's lives when they should be reducing both. "When so many such loans are going into default, it's a clear sign that something is amiss."

National Mortgage News, June 13, 2019--Hannah Lang (subscription)HUD issued an opinion that borrowers in the Deferred Action for Childhood Arrivals program are ineligible for Federal Housing Administration loans. The ruling, conveyed in a letter by HUD Assistant Secretary Len Wolfson, appeared to contradict recent comments by Secretary Ben Carson, who reportedly told lawmakers at a House hearing, "I'm sure we have plenty of DACA recipients who have FHA-backed loans."

American Banker, June 13, 2019--Kate Berry (subscription)The Fed's 24-page summary delves into the major concerns about reforming the Community Reinvestment Act, including updating assessment boundaries, evaluating how banks are tested, and clarifying which activities are eligible for CRA credit.

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