The Lede

Sentinel & Enterprise (Fitchburg, Mass.), Aug. 29, 2017--Philip DeFronzoThe author, founder and CEO of Norcom Mortgage, expresses support for MBA plan on GSE reform.

Newsday (N.Y.), Aug. 29, 2017--Zachary R. DowdySen. Chuck Schumer, D-N.Y., will call on his fellow lawmakers in Congress on Tuesday to renew the National Flood Insurance Program as torrential rains and flooding from Tropical Storm Harvey pummel southern Texas.

Wall Street Journal, Aug. 29, 2017--Peter Grant (subscription)Investors are raising funds to take advantage of busted condominium projects and other distressed property as a correction shows signs of spreading in parts of the commercial real estate industry.

Associated Press, Aug. 29, 2017--Bernard Condon, Ken Sweet"There's going to be a huge uninsured economic loss here," said Pete Mills, a senior vice president at the Mortgage Bankers Association.

National Mortgage News, Aug. 29, 2017--Bonnie Sinnock (subscription)Mortgage companies' net gain for each loan they originated between April and June rose to $1,122 from $224, according to the Mortgage Bankers Association.

HousingWire, Aug. 29, 2017--Ben LaneIn a letter sent last week to Federal Housing Finance Agency Director Mel Watt, the Mortgage Bankers Association, National Association of Realtors, the National Association of Home Builders and other groups express their disappointment in Watt, who recently threw cold water on the idea that Fannie and Freddie would begin using alternative credit scoring models at any point in the next two years.

Reuters, Aug. 29, 2017--Dena AubinFiled on Monday in San Francisco federal court, the lawsuit said Wells Fargo managers pressured employees to blame homeowners for the delays, sometimes by falsely stating that paperwork was missing, so homeowners could be stuck with extra fees.

HousingWire, Aug. 29, 2017--Brena SwansonHUD is changing the requirements around its reverse mortgage program, announcing plans on Tuesday to raise premiums and place tighter loan limits.

Mortgage Daily, Aug. 29, 2017--Sam GarciaAll around the mortgage industry, primary and secondary lenders are coming to the aid of borrowers impacted by the severe devastation from Hurricane Harvey.

Mortgage Daily, Aug. 29, 2017Nearly $1 billion in government-sponsored enterprise residential loans are being marketed for sale. The mortgages are either slightly past due or reperforming.

HousingWire, Aug. 29, 2017--Ben LaneCiting the important role that HUD plays, especially in times of tragedy, the Mortgage Bankers Association is urging the members of the Senate to confirm Pam Patenaude as deputy secretary of HUD.

Washington Post Writers Group, Aug. 29, 2017--Kenneth R. HarneyDavid Stevens, president and CEO of the Mortgage Bankers Association, says automated valuations might satisfy a lender's purposes but they "may not necessarily be the best assessment" of "the right price to pay for a property."

Scotsman Guide, Aug. 29, 2017--Victor WhitmanThe Trump administration announced Tuesday that it was raising the premiums for most reverse mortgages and lowering the maximum amount that can be borrowed in an effort to stem the tide of losses to the Federal Housing Administration insurance fund. The nation's largest mortgage trade group, the Mortgage Bankers Association, praised the move as a way for the program to remain financially viable.

CBS North Carolina, Aug. 29, 2017--Robert RichardsonA six-year audit by the Special Inspector General for the Troubled Asset Relief Program found the agency spent thousands of TARP dollars on meals for employees. The audit found $3 million in improper expenses across 18 states which receive TARP funding, as well as the District of Columbia.

Wall Street Journal, Aug. 29, 2017--Esther Fung (subscription)Houston's office and retail real-estate markets are likely to get hurt by lost business in the weeks and months immediately following Hurricane Harvey.

MBA Education presents a webinar, Budgeting and Financial Planning for Non-Believers, on Wednesday, Sept. 27 from 2:00-3:30 p.m. ET.