The Lede

National Mortgage News, Apr. 27, 2016--Collins, Brian Large lenders are pushing the Federal Housing Administration to revamp its loan defect taxonomy to provide more certainty about potential errors and mistakes that could lead to enforcement actions. "We are trying to get to a place where you don't have minor errors creating treble damages risk under false claims," said Pete Mills, a senior vice president at the Mortgage Bankers Association.

Commercial Observer, Apr. 27, 2016--Knakal, Robert The dynamics in the broader New York City investment sales market for the last six months have looked like the quintessential beginning of a market correction. What has been surprising this time around is the relative strength of the office sector.

CNBC, Apr. 27, 2016--Olick, Diana Total volume decreased 4.1 percent last week on a seasonally adjusted basis from the previous week, according to the Mortgage Bankers Association. Rates moved higher for the second week in a row.

MarketWatch, Apr. 27, 2016--Hoak, Amy Thin housing inventory has contributed to a spike in remodeling as buyers pour money into their current homes instead of moving--often using home equity to do it.

DS News, Apr. 27, 2016--West, Xhevrije There is a demographic shift happening within the mortgage profession. In an industry that is so male and white-focused, women and minorities are often passed over for well-deserved positions and promotions, but this idea is being reshaped and redefined right before our eyes.

National Mortgage Professional, Apr. 27, 2016--Hall, Phil Zillow determined that Indianapolis home buyers can expect to spend 11 percent of their income on a monthly mortgage payment, four percentage points below the national average. But those savings do not carry over for renters, who can expect to spend 26 percent of their income on monthly rent.

Wall Street Journal, Apr. 27, 2016--Torry, Harriet A gauge of business investment--orders for nondefense capital goods excluding aircraft--declined 1.1% in the first quarter, the Commerce Department said Tuesday, suggesting firms are hesitant to spend on staples like computers, machinery and electrical appliances.

National Mortgage News, Apr. 27, 2016--Finkelstein, Brad Clayton Holdings reported a $3.7 million pretax first-quarter loss, but Radian's mortgage insurance business had pretax income of $140 million, a 10% increase over the prior year.

Reuters, Apr. 27, 2016--Dunsmuir, Lindsay; Lange, Jason The Federal Reserve held interest rates unchanged on Wednesday and while it left the door open to a hike in June, its statement implied that it was in no hurry to follow on from its December rate rise.

Washington Post, Apr. 27, 2016--Harney, Kenneth R. Fannie Mae, a dominant player in the mortgage market, will soon begin evaluating how all loan applicants have managed their credit over the previous two years: how much they owed in revolving debt each month, the minimum payment allowed on each debt and how much they actually paid. Mortgage credit reports acceptable to Fannie will need to include such "trended credit data" on every applicant.

National Mortgage News, Apr. 27, 2016--Berry, Kate Consumer Financial Protection Bureau Director Richard Cordray reiterated in a recent letter to Sen. Bob Corker, R-Tenn., that lenders are allowed to fix non-numerical clerical errors for up to 60 days after the issuance of a corrected mortgage disclosure form.

HousingWire, Apr. 27, 2016--Swanson, Brena According to the Consumer Financial Protection Bureau's latest monthly complaint report, the Bureau has handled 223,100 mortgage complaints since July 21, 2011, making mortgage the second most-complained-about product after debt collection, representing 26% of total complaints.

HousingWire, Apr. 28, 2016--Lane, Ben Less than one day after posting a massive loss for the first quarter of 2016, the nonbank has run afoul of the terms of the National Mortgage Settlement and is now forbidden from taking foreclosure actions on more than 17,000 loans. But it's not all bad news for Ocwen; The NMS stated that Ocwen has provided 23,000 borrowers with more than $2 billion in consumer relief, which fulfills its consumer relief obligation.

Wall Street Journal, Apr. 28, 2016--Strasburg, Jenny Deutsche Bank AG said Thursday that first-quarter net income beat analysts' expectations despite being pressured by difficult market conditions and the impact of the bank's decision to exit certain areas.

MISMO holds its Spring Summit June 6-10 in Austin, Texas.  

MBA Education presents a day-long HMDA Implementation Workshop on Friday, June 10 at the Sheraton Austin at the Capitol in Austin, Texas.