The Lede

National Mortgage News, July 16, 2019--Hannah Lang (subscription)The bill is sponsored by three senators, Bob Menendez, D-N.J., John Kennedy, R-La., and Bill Cassidy, R-La., and several members of the House, including Reps. Frank Pallone, D-N.J., and Bill Pascrell, D-N.J. It would take further steps to ensure that flood insurance is kept affordable while improving technology to combat flood risks, the lawmakers said during a press conference Tuesday.

Washington Post, July 16, 2019--Michele LernerWhile the lack of listings continues to plague some housing markets, affordability is the biggest issue for renters, first-time buyers and move-up buyers. The search for affordable housing is driving a new migration pattern as today's financial woes push people from high-cost coastal cities to the middle of the country and the South.

The Mortgage Reports, July 16, 2019--Erik J. MartinA Fed rate cut is expected this year, even as early as July 31. That means mortgage interest rates should drop, making it more affordable to buy a home.

Wall Street Journal, July 16, 2019--Liz Hoffman (subscription)Goldman Sachs Group Inc.'s quarterly profit fell 6% as the cost of the Wall Street bank's pivot toward Main Street began to weigh.

National Mortgage Professional, July 16, 2019Quicken Loans said the second quarter marked the company's best quarter in its 34-year-old history.

Wall Street Journal, July 16, 2019--Lalita Clozel (subscription)The Federal Deposit Insurance Corp. on Tuesday released a plan that would ease disclosure requirements implemented in 2010 after the financial crisis that discouraged banks from packaging and reselling mortgage-backed securities, a nearly $10 trillion market.

American Banker, July 16, 2019--Paul Davis (subscription)KeyCorp in Cleveland warned that it faces $90 million in exposure to a client suspected of committing fraud.

HousingWire, July 16, 2019--Kathleen HowleyTwo weeks into his new gig as a senior fellow at Harvard University's Joint Center for Housing Studies, Donald Layton, who was the CEO of Freddie Mac until the end of June, is speaking out--in favor of regulation.