The Lede

The persistent lack of adequate housing inventory in the U.S. has its roots in the 2007-2008 financial crisis, said Zillow Inc., Seattle.

Economists have found many ways to quantify the economic effects of the 2007-2008 financial crisis, but one number in particular stands out: $70,000.

Earn recognition for your mortgage compliance expertise: MBA Education and the MBA Compliance Essentials program offer the only certification and designation program geared exclusively towards compliance professionals in the mortgage finance industry, the Certified Mortgage Compliance Professional (CMCP).

American Banker, Aug. 20, 2018--Kate Berry (subscription)Late last year, 17 state attorneys general pledged to fill the gap if Consumer Financial Protection Bureau slowed its enforcement activity under acting Director Mick Mulvaney. But their efforts to compensate for a less aggressive CFPB have so far been a mixed bag.

National Mortgage News, Aug. 20, 2018--Brad Finkelstein (subscription)HUD's move, along with a separate statement of interest by the U.S. Attorney for the Southern District of New York in a case filed by fair housing advocates, indicated the practices allegedly continued even after Facebook reported disabling those features after their existence became common knowledge nearly two years earlier.

Mortgage Orb, Aug. 20, 2018--Patrick BarnardThe delinquency rate on one-to-four-unit residential properties fell to a seasonally adjusted rate of 4.36% as of the end of the second quarter, down 27 basis points from the 4.63% previous quarter, but up 12 basis points from 4.24% a year ago, according to the Mortgage Bankers Association.

UExpress, Aug. 17, 2018--Lew SichelmanMost lenders require escrow accounts to make sure these bills are paid on time, thereby reducing the risk that you will default on the mortgage or incur liens on the property. Either of those possibilities will place a cloud on your title, making the property more difficult to sell--by you or the bank, should it have to foreclose.

HousingWire, Aug. 17, 2018--Ben LaneEverything is going swimmingly in multifamily real estate these days, right? Rents keep rising, construction is still chugging along, deals are being made, and delinquencies are still at historic lows. So everything's good, right? Maybe not.

Bloomberg, Aug. 17, 2018--Christopher Maloney"Once the Fed crossed the Rubicon into QE, they are never going to go back," according to Walt Schmidt, head of MBS research at FTN Financial, whose advisory group has $17 billion in agency mortgage-backed securities and collateralized mortgage obligations under management.

HousingWire, Aug. 16, 2018--John VongThe author, with ComplianceEase, says recent action by the California Department of Business Oversight is one more example of state regulators filling the void left by the Consumer Financial Protection Bureau.

National Mortgage News, Aug. 16, 2018--Hannah Long (subscription)The Federal Housing Administration is revising its foreclosure prevention options to assist struggling borrowers in Puerto Rico and the U.S. Virgin Islands affected by last year's hurricanes.

Mortgage Daily, Aug. 17, 2018Monthly refinances of government-sponsored enterprise loans sank to the lowest level on recent record. Refinances of Freddie Mac suffered most.

Scotsman Guide, Aug. 16, 2018--Victor WhitmanForeclosure starts on residential mortgages dropped to the lowest point in 31 years at the midway point of 2018, but mortgage delinquencies have ticked up compared to last year, the Mortgage Bankers Association reported.

Mortgage Daily, Aug. 15, 2018Ginnie Mae II mortgages account for 12,194 loans for $2.285 billion, Fannie Mae A/A loans make up 5,694 units for $0.869 billion, and there are just 85 Fannie Mae MRS loans for $0.019 billion.

HousingWire, Aug. 15, 2018--Kelsey RamirezHome remodeling continues to increase in frequency as more Baby Boomers are electing to age in place and even Gen Xers opt to improve their current homes rather than trading up to newer ones.

Wall Street Journal, Aug. 15, 2018--Cezary Podkul (subscription)At issue is whether income from apartment complexes was falsified to support larger loans--which often became part of mortgage securities.

American Banker, Aug. 15, 2018--Joe Adler (subscription)The Senate Banking Committee has rescheduled a vote on Kathy Kraninger, the administration's nominee to run the Consumer Financial Protection Bureau to Aug. 23.

National Mortgage News, Aug. 14, 2018--Hannah Long (subscription)With Federal Housing Finance Agency Director Mel Watt's term due to end in January, his successor - either a Senate-confirmed appointee or an interim chief - has substantial authority to set part of the path forward on GSE reform, including how far Fannie Mae and Freddie Mac expand their mission and the status of a common securitization platform shared by the two mortgage giants.

Wall Street Journal, Aug. 14, 2018--Josh Zumbrun (subscription)Gradually rising interest rates have yet to dent Americans' appetite for borrowing, with the total stock of new debt climbing to $13.3 trillion in the second quarter, continuing a gradual rise in household borrowing over the past four years, the Federal Reserve Bank of New York said.

Mortgage Daily, Aug. 14, 2018A $4.9 billion penalty included in a settlement between the Department of Justice and The Royal Bank of Scotland Group plc is reportedly largest of its kind ever for the department.