The Lede

The Federal Housing Finance Agency last week raised maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac for the second year in a row.

Just more than 150 commercial mortgage-backed securities loans liquidated with a 42.8 percent weighted-average loss severity during the third quarter--up slightly from 42.5 percent in the quarter before--reported Moody's, New York.

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $929 on each loan they originated in the third quarter, down from $1,122 per loan in the second quarter, the Mortgage Bankers Association reported Thursday.

Delinquency rates for commercial and multifamily mortgage loans held steady in the third quarter, with delinquency rates for loans held in bank portfolios reaching a 24-year low, the Mortgage Bankers Association reported this morning.

S&P Dow Jones Indices and Experian, New York, said their Consumer Credit Default Indices rose for the fourth consecutive month in October.

The Mortgage Bankers Association called on the Senate to fix a controversial provision in the Senate tax bill that would require any item of income that an accrual taxpayer recognizes for accounting purposes, including mortgage servicing rights, also be recognized for tax purposes.

HousingWire, Dec. 4, 2017--Ben LaneOn Monday, Ocwen disclosed that it reached more settlements in various matters, including an additional settlement with investors related to the company's previously restated earnings, and a settlement with CIT Bank over a 2013 MSR deal.

HousingWire, Dec. 4, 2017--Jacob GaffneyWells Fargo Securities analysts Vipul Jain, Philip Hong, and Samuel Cecil keep a close eye on the secondary mortgage markets for their clients. In their latest email, the analysts note that November was jam-packed with non-performing loan trading volume.

National Mortgage News, Dec. 4, 2017--Brad Finkelstein (subscription)Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."

Wall Street Journal, Dec. 4, 2017--Kate Davidson, Joshua Jamerson (subscription)Republican senators inserted last-minute changes into their tax overhaul bill early Saturday morning, including ones aimed at helping oil and gas companies, cruise-ship operators, auto dealers, universities and mortgage bankers.

Scotsman Guide, Dec. 4, 2017--Victor WhitmanMBA President and CEO David Stevens said in a statement "this package will protect the ability of most Americans to obtain safe, decent shelter and affordable home mortgage credit without disruption." MBA has previously expressed alarm at GOP proposals that would minimize housing incentives.

Mortgage Daily, Dec. 1, 2017Walter Investment Management Corp. has filed for bankruptcy as expected. The company hopes to wipe out nearly $1 billion in outstanding debt.

HousingWire, Dec. 1, 2017--Ben LaneWhile Democrats vow that they're not ready to hand the leadership of the Consumer Financial Protection Bureau over to Mick Mulvaney without a fight, the Trump administration is moving forward with helping Mulvaney staff up in his new position.

CNBC, Dec. 2, 2017--Lorie KonishNow that the Senate passed a sweeping tax reform bill, proposed changes to state and local tax and mortgage deductions could be especially damaging to those residents in states with higher tax rates.

National Mortgage News, Nov. 30, 2017--Bonnie Sinnock (subscription)Final "duty to serve" evaluation guidance for Fannie Mae and Freddie Mac aim to include more incentives for the agencies to go above and beyond mandatory increases in lending to underserved markets.

Urban Institute, Nov. 30, 2017--Edward Golding, Laurie GoodmanFormer HUD official and Urban Institute exec say Congress could take a positive step by removing the HECM portfolio from the MMI Fund.

Wall Street Journal, Nov. 30, 2017--Adam Bonislawski (subscription)Which state has the highest hidden flood risk? Take a guess. Heck, take 49 guesses. You might not get it even then. (It's Arizona.)

Mortgage News Daily, Nov. 30, 2017--Jann SwansonMortgage bank profits declined in the third quarter when compared to the second quarter, but remained substantially higher than in the two quarters that preceded it, the Mortgage Bankers Association said.

HousingWire, Nov. 29, 2017--Ben LaneRoundPoint announced Wednesday that it recently launched a retail mortgage lending division, which is licensed in 42 states.

Bloomberg, Nov. 29, 2017--Vincent Del Guidice, Wei LuAssuming a 20 percent down payment, the three states together are estimated to have more than 80,000 homes currently listed for sale where the mortgage could reach at least $500,000, the limit laid out for new home sales in the House Republican tax plan. In California, that's 44 percent of homes on the market.

National Mortgage News, Nov. 29, 2017--Ian McKendry (subscription)As the Senate launched into debate on tax reform Wednesday, a still-unanswered question was whether lawmakers will address a potentially huge negative consequence for Fannie Mae and Freddie Mac.

The Hill, Nov. 28, 2017--Sylvan LaneA federal judge on Tuesday rejected a lawsuit from an official who claims that she, and not President Trump appointee Mick Mulvaney, is the rightful director of the Consumer Financial Protection Bureau.

Forbes, Nov. 28, 2017--TrefisWells Fargo joined its smaller rival U.S. Bancorp to report a sequential improvement in its total mortgage servicing portfolio for the third quarter, making this the first time in more than four years that two of the nation's five largest banks bucked the industry-wide trend of quarter-on-quarter declines in this figure.

Wall Street Journal, Nov. 29, 2017--Gretchen Morgenson, Emily Glazer (subscription)A federal regulator has advised Wells Fargo & Co.'s board of directors that it is weighing a formal enforcement action against the bank over improprieties in its auto-insurance and mortgage operations.

HousingWire, Nov. 28, 2017--Ben LaneThe Federal Housing Finance Agency announced Tuesday that it is increasing the conforming loan limits from $424,100 to $453,100 for 2018.

Wall Street Journal, Nov. 29, 2017--Ryan Tracy (subscription)The Trump administration doesn't plan to recommend stripping regulators of their power to seize and unwind a failing financial firm in a crisis, according to people familiar with the matter, a development likely to make defenders of the 2010 Dodd-Frank financial law breathe a sigh of relief.