The Lede

Commercial and multifamily mortgage delinquencies remained at a low rate in the final three months of 2018, according to the Mortgage Bankers Association's 4th Quarter Commercial/Multifamily Delinquency Report.

Fannie Mae and Freddie Mac yesterday announced they will begin accepting forward Uniform Mortgage-Backed Security trades with a trade date on or after March 12 and settlement dates on or after June 3.

CoreLogic, Irvine, Calif., said despite elevated delinquency rates in areas affected by hurricanes and wildfires, overall delinquency and foreclosure rates fell to levels not see since 2000.

The commercial mortgage-backed securities delinquency rate crossed another threshold in February, falling below 3 percent for the first time since May 2009, reported Trepp, New York.

CoreLogic, Irvine, Calif., said while U.S. homeowners with mortgages saw their equity increase in the fourth quarter, the number of homeowners with negative equity increased for the first time in three years.

Amid worsening affordability in the U.S., people in the Washington, D.C., metro area have the most money left over after they pay their mortgage, said Zillow Inc., Seattle.

The Mortgage Bankers Association and nearly a dozen industry trade groups asked federal agencies to delay the January 2020 implementation of controversial accounting standard, saying more analysis of potential consequences to lenders and consumers is needed.

National Mortgage Professional, Mar. 11, 2019--Phil HallThe Mortgage Bankers Association published "The Roadmap to CFPB 2.0," a new paper that offers the trade group's recommendations on strengthening the mission of the Consumer Financial Protection Bureau.

National Mortgage News, Mar. 11, 2019--Neil Haggerty, Kate Berry (free article)Republican lawmakers have sought to reform the CFPB's funding every year since the bureau was created, in 2011, by proposing to add the agency to congressional appropriations. The president's budget proposes much of the same. Yet it is unlikely that Congress--particularly the Democratic-controlled House--would enact such a measure.

Bloomberg, Mar. 12, 2019--Christopher FlavelleFEMA said it didn't yet know what the effect of the new system would be on premiums. But rates are likely to go up in neighborhoods with the greatest exposure to flood risks, which could hurt property values in those areas, according to Michael Berman, a former chairman of the Mortgage Bankers Association.

American Banker, Mar. 11, 2019--Blaine Luetkemeyer (free article)The author, a Democrat from Missouri on the House Financial Services Committee, says the Current Expected Credit Loss standard proposed by the Financial Accounting Standards Board threatens to eliminate some lending services and restrict access to credit, particularly for low-income families.

HousingWire, Mar. 8, 2019--Ben LaneAccording to newly released data from the Mortgage Bankers Association, delinquency rates on commercial and multifamily mortgages remained near historic lows during the fourth quarter, just as they did all year.

National Mortgage News, Mar. 10, 2019--Hannah Lang (subscription)Despite recent speculation that the White House and Federal Housing Finance Agency were planning a dramatic shake-up of Fannie Mae and Freddie Mac, observers say the nominee poised to run the FHFA will have a more targeted agenda on the job.

Wall Street Journal, Mar. 9, 2019--Ben Eisen (subscription)Private investors are directly buying a small but growing share of loans that have long been the domain of Fannie Mae and Freddie Mac, a sign of the changing dynamics in the $11 trillion mortgage industry.

National Mortgage Professional, Mar. 7, 2019--Phil HallCommercial and multifamily mortgage delinquencies stayed at their rock-bottom levels during the fourth quarter of 2018, according to data from the Mortgage Bankers Association.

HousingWire, Mar. 7, 2019--Kelsey RamirezThe hearing went as anyone would expect--Democrats criticized Consumer Financial Protection Burea Director Kathy Kraninger's actions and looked back on actions taken by former Acting Director Mick Mulvaney, while Republicans asked questions that confirmed their view that the CFPB has too much power and that Congress should act to change the structure.

National Mortgage News, Mar. 7, 2019--Bonnie Sinnock (subscription)Mr. Cooper Group took a net loss of $136 million in the fourth quarter of 2018 after lower rates hit the mark-to-market fair value of its mortgage servicing rights portfolio harder than its peers.

HousingWire, Mar. 6, 2019--Kelsey RamirezTalk of housing reform is heating up, and now several members of the housing industry (including the Mortgage Bankers Association) are encouraging the Federal Housing Finance Agency not to go too fast, and to make sure affordable housing remains a priority throughout the process.

American Banker, Mar. 6, 2019--Neil Haggerty (subscription)A day before Consumer Financial Protection Bureau Director Kathy Kraninger is set to testify to the House Financial Services Committee, House Democrats introduced legislation to undo efforts to weaken the agency by her predecessor, former acting Director Mick Mulvaney.

HousingWire, Mar. 6, 2019--Ben LaneOcwen Financial plans to reduce its overall workforce by more than 2,000 employees over the course of this year, as the nonbank moves to reduce its costs after its $360 million acquisition of PHH.

Tampa Bay Times, Mar. 7, 2019--Susan Taylor MartinFlorida officials used a federal fund designed to help struggling homeowners as a "deep pocket'' for travel and stays in high-end hotels, a new report says. Between 2011 and 2016, officials of the Florida Housing Finance Corp. charged the Hardest Hit Fund all or part of the cost of attending conferences in San Diego, Orlando, Miami, Boston and Nashville, Tenn.

American Banker, Mar. 5, 2019--Rachel Witkowski (subscription)Senate Democrats sent a letter Tuesday asking the the Consumer Financial Protection Bureau to reinstate examinations of lenders for compliance with the Military Lending Act.

The Title Report, Mar. 5, 2019 (subscription)The New York Department of Financial Services wrote Fidelity National Financial Chief Compliance Officer Paul Perez on Jan. 31, detailing its response to the proposed acquisition of Stewart Title by FNF.