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Volume 19 Issue 169

Tuesday, September 01, 2020

MBA Offers Recommendations to FHFA on New GSE Capital Framework

The Mortgage Bankers Association asked the Federal Housing Finance Agency to restructure the capital framework for Fannie Mae and Freddie Mac, moving from past business models to a market utility approach that enables them to meet all of their obligations.

MBA: Share of Mortgage Loans in Forbearance Flat at 7.20%

The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported the percentage of loans in forbearance stayed flat for the second straight week, holding at 7.20% as of Aug. 23.

MBA: Pandemic Takes Aim at Commercial, Multifamily Mortgage Delinquency Rates

The coronavirus pandemic had a "dramatic and immediate impact" on delinquency rates for some mortgages backed by commercial and multifamily properties in the second quarter, although most continued to perform well, the Mortgage Bankers Association said today in two reports.

‘Strong and Resilient:’ CoreLogic Home Price Index at 2-Year High

CoreLogic, Irvine, Calif., said its U.S. Home Price Index jumped to a 5.5% year-over-year increase in July, its highest level since 2018. Month over month, the Index rose by 1.2%.

MBA Chart of the Week: Home Sales and Purchase Applications

As the U.S. economy works its way through the current pandemic and recession, housing has been a clear bright spot in an otherwise dire time. This week’s chart highlights the “V” shaped recovery exhibited by various measures of housing health.

MBA VideOS

mPower Moments: Teressa Lurk on Managing Teams--and Toddlers

mPower Moments: Teressa Lurk on Managing Teams--and Toddlers

MBANow: Mike Flood Discusses Rental Assistance

MBANow: Mike Flood Discusses Rental Assistance

MBA Washington Update 8/24/20

MBA Washington Update 8/24/20

MBANow: MBA Chief Economist Mike Fratantoni

MBANow: MBA Chief Economist Mike Fratantoni

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TOP NATIONAL NEWS

Non-Agency Loans are in Need of Forbearance Assistance Too
Waters to FHFA: Postponing New Refi Fee Won’t Cut It
Why the Coming Foreclosure Crisis Will Look Nothing Like the Last One
As Eviction Moratoriums End, What Will Happen in Pennsylvania, Nevada, Florida and California?
Banks, Consumer Groups Both Got What they Wanted in ‘Mini-CFPB’ Bill
Rocket Analysts Mixed on Mortgage Lender’s Trajectory
CoreLogic’s Hostile Bidders Claim Company is Muddying Voting Process
Hurricane Laura Wallops Areas with High Mortgage Delinquency Rates
New Yorkers Flee for Florida and Texas as Mobility Surges
Retail Eviction Proceedings Pick Up as Economy Restarts
J.C. Penney Sale Talks Stall, Pushing Retailer to Brink
Top Fed Official Says New Framework Provides More Humble Approach to Setting Rates

MBA NEWS

MBA Virtual Human Resources Symposium Sept. 10-11
Attend MBA Fall Virtual Conferences with Path to Diversity Scholarship
MBA Education Webinar Sept. 24: Lending 2021: Will You Change the Way You Work to Compete?
MBA Education School of Mortgage Banking I Online (Sept. 8-29)
NAMMBA Connect 2020–The Future of Lending Virtual Conference Sept. 17-18

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Quote

"The pace of new forbearance requests has been relatively flat across investor types, but for those with GSE loans, the rate of exits from forbearance regularly exceeds the rate of new requests. The exception in these trends are borrowers with Ginnie Mae loans. The loss of enhanced unemployment insurance benefits, coupled with a consistently high rate of layoffs and uncertainty about the job market, are having a disproportionate impact on FHA and VA borrowers.” --Mike Fratantoni, MBA Senior Vice President and Chief Economist.

STATLINK

August 31, 2020

Sponsored Content from Pavaso: Data Privacy and Working with eClosing Service Providers

Overlooking this factor when choosing an eClosing technology service provider could cost you.

August 31, 2020

Life Insurance Commercial Mortgage Return Index Surges

Commercial mortgage investments held by life insurance companies posted a 4.58 percent total return in the second quarter, a major reversal from the first quarter’s negative 1 percent return, said Trepp LLC, New York.

August 31, 2020

People in the News Sept. 1, 2020

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Promontory MortgagePath LLC, Danbury, Conn., named Scott Turnquest as Chief Technology Officer and Jordan Higgins and Kim Joyce as Regional Vice Presidents.

August 31, 2020

MBA Education Path to Diversity Scholar Profile: Ashley Duffy

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(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)

August 31, 2020

Bridge Over Troubled Water: Debt Funds and Mortgage REITs Come of Age During COVID-19

It can be challenging to raise capital for public companies involved in commercial real estate lending against a backdrop of falling stock prices. This has led to an inward focus on activities such as asset management and building liquidity for public mortgage REITs, making these market participants less active for new loan originations.

August 31, 2020

A Conversation with Scott Gesell, CEO of Gateway First Bank

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Scott Gesell was recently appointed as CEO of Gateway First Bank, Tulsa, Okla. He has been an integral part of Gateway First Bank’s leadership since 2013. During his time at Gateway, he played a leading role in the merger of a 100-year-old community bank with a 20-year-old mortgage company to become Gateway First Bank.

August 31, 2020

MBA Advocacy Update Sept. 1, 2020

On Tuesday, the Federal Housing Finance Agency announced steps to limit the impact on both lenders and consumers of its newly issued 50-basis-point GSE Adverse Market Refinance Fee. Following two weeks of sustained MBA-led advocacy with its coalition partners, FHFA delayed the implementation date of the fee from September 1 to December 1.

August 31, 2020

Dealmaker: Berkadia Closes $31M Apartment Property Sale

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Berkadia arranged the $30.6 million sale and financing for Turtle Creek Apartment Homes, a 232-unit garden-style apartment community 15 miles north of downtown Tampa, Fla.

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