The Lede

Okay Baby Boomers: remember when "turn of the century" meant 1900? Black Knight, Jacksonville, Fla., reported as of December, just 3.9 percent of mortgages were delinquent, the lowest year-end total since the turn of the century.  That's 2000. (Feeling old yet?)

The Mortgage Bankers Association, in comments to the Department of Veterans Affairs, identified a "significant operational challenge" with new VA disclosures regarding cash-out refinancings and asked that the VA delay enforcement related to these new requirements.

Ellie Mae, Pleasanton, Calif., said borrowers embraced adjustable-rate mortgages at a rate not seen since 2011.

Last week, Acting Federal Housing Finance Agency Director Joseph Otting surprised staff, Congress and the real estate finance industry by announcing the White House would submit a plan to end government control of Fannie Mae and Freddie Mac next month, without legislation. On Friday, the chair of the House Financial Services Committee, Rep. Maxine Waters, D-Calif., and the Ranking Member of the Senate Banking Committee, Sen. Sherrod Brown, D-Ohio, said, essentially, "not so fast."

Catastrophic activity-- hurricanes, wildfires, flooding and other natural catastrophes-occurred at an above-average level for the third straight year in 2018, said CoreLogic, Irvine, Calif.

The Mortgage Leader, Jan. 22, 2019Blend has hired Tim Mayopoulos, former CEO of Fannie Mae, as president of the company. Mayopoulos will lead Blend's go to market and corporate support functions, take a seat on the board and report to Nima Ghamsari, CEO of Blend.

National Mortgage News, Jan. 22, 2019--Bonnie Sinnock (subscription)In a slow mortgage market, construction loans are considered the most likely source of growth for lenders, according to Altisource's latest annual originations survey.

Fox Business, Jan. 23, 2019--Brittany De LeaHomebuyers are increasingly opting for nontraditional mortgages - Opens a New Window. which helped precipitate the housing crisis about one decade ago - potentially foreshadowing trouble as high prices continue to weigh on housing affordability. (MBA mention)

Wall Street Journal, Jan. 23, 2019--Ben Eisen (subscription)A flavor of mortgage once panned for its role in the housing meltdown a decade ago is making a comeback. These loans, aimed at buyers with unusual circumstances such as those who can't provide the standard proofs of income, are growing rapidly even as rising interest rates and higher home prices crimp demand for mortgages.

Urban Institue, Jan. 23, 2019The Urban Institute's Mortgage Servicing Collaborative agrees that the FHA could improve outcomes for borrowers and mitigate costs for servicers by simplifying requirements.

National Mortgage News, Jan. 24, 2019--Elina Tarkazikis (subscription)While the London interbank offered rate won't go dark until 2021, the commercial real estate finance industry should start preparing for the transition now, says the Mortgage Bankers Association.

Wall Street Journal, Jan. 24, 2019--Andrew Ackerman (subscription)Lawmakers from both parties plan to take a fresh crack at getting Fannie Mae and Freddie Mac, two companies that underpin nearly half of U.S. mortgages, out of government control.

American Banker, Jan. 24, 2019--John Heltman (subscription)When Sen. Elizabeth Warren, D-Mass., sent a letter last week to some of the largest banks asking for details about what they were doing to aid customers affected by the government shutdown, many firms had to confront an all-too-familiar public relations dynamic: playing defense. Banks had already been quick to point out that many of them were taking action to help their customers--a point that Warren herself acknowledged.

Tech Crunch, Jan. 24, 2019--Zack WhittakerA reporter found the second trove of data in a separate exposed Amazon S3 storage server, which too was not protected with a password. Anyone who went to an easy-to-guess web address in their web browser could have accessed the storage server to see--and download--the files stored inside.

National Mortgage Professional, Jan. 25, 2019--Phil Halln a letter to the VA, MBA President and CEO Robert Broeksmit cited a "significant operational challenge" in the new VA disclosures that would impose required borrower disclosures which are not readily available to MBA member lenders offering such refinance loans.

American Banker, Jan. 25, 2019--Neil Haggerty (subscription)Two leading congressional Democrats called on the acting Federal Housing Finance Agency chief to detail his plans for the conservatorships of Fannie Mae and Freddie Mac following reports he may shake up the agency's approach to the two mortgage giants.

American Banker, Jan. 25, 2019--John Reosti (subscription)Members of the Financial Accounting Standards Board could be in for an earful Monday. FASB will hold a highly anticipated roundtable at its Norwalk, Conn., headquarters to discuss the Current Expected Credit Loss accounting standard.

National Mortgage News, Jan. 28, 2019--Hannah Long (free content)Federal Housing Finance Agency acting director Joseph Otting promised the White House is set to announce an administrative plan for changes to Fannie Mae and Freddie Mac. But the mechanics of such a plan as well as the timeline have left mortgage industry insiders scratching their heads.