The Lede

National Mortgage Professional, June 30, 2017--Phil HallSen. Mark Warner, D-Va., told a Mortgage Bankers Association conference last week that he and Sen. Bob Corker, R-Tenn., had found consensus on several issues, including developing a system that maintains the 30-year mortgage.

Bloomberg, June 30, 2017--Alastair Marsh, Tracy AllowayThe bank said it invoked its right as trustee to hold back funds to cover legal costs. The 20 transactions had a principal balance of $540 million and are among more than 2,000 deals involved in a lawsuit brought by bondholders.

Wall Street Journal, June 30, 2017--Rachel Louise Ensign, Nicole Friedman (subscription)Warren Buffett's firm Berkshire Hathaway Inc. said Friday that it would buy 700 million Bank of America Corp. shares via warrants at below-market prices, a deal that places the firm as the bank's largest shareholder.

HousingWire, June 30, 2017--Kelsey RamirezAmericans grew more uneasy about the future of the U.S. economy in June, according to the Survey of Consumers conducted by the University of Michigan.

Reuters, June 30, 2017--Jason LangeU.S. consumer spending rose modestly in May and inflation cooled, pointing to a slow-but-steady economic expansion that could still lead the Federal Reserve to raise interest rates by the end of the year.

UExpress, June 30, 2017--Lew SichelmanA family looking to expand from a three-bedroom house it purchased in 2009 to one with four bedrooms now can expect to pay $614 more on average for their mortgage. That's $7,368 a year, and it doesn't count higher property taxes, larger insurance bills and perhaps homeowner association dues.

Mortgage Daily, July 3, 2017The Consumer Financial Protection Bureau has issued policy guidance on early compliance with the 2016 Mortgage Servicing Final Rule.

Mortgage Daily, July 3, 2017The Mortgage Market Index from Mortgage Daily, which provides insight into upcoming originations based on rate-lock volume at OpenClose, was 149 in the week ended June 30.

Wall Street Journal, July 2, 2017--Christopher Mims (subscription)With tech-enabled modular design and building, the construction industry, like consumer electronics, can benefit from economies of scale.

HousingWire, June 30, 2017--Ben LaneThe settlement covers Morgan Stanley's "deceptive" mortgage bond practices in the run-up to the financial crisis and requires the company to provide $400 million in consumer relief for New York residents affected by the company's alleged actions.

Business Insider, June 30, 2017--Julie BortOnline real estate brokerage Redfin has put the "for sale" sign on its own shares, filing the paperwork for an IPO late on Friday.

MBA NewsLink Staff Offices of the Mortgage Bankers Association will be closed this Monday, July 3 and Tuesday, July 4 in observance of the Independence Day holiday. MBA NewsLink will not publish on Tuesday, July 4. On behalf of MBA officers and staff, have a safe and happy holiday.

MBA Education presents its popular Advanced Servicing Workshop Aug. 2-3 at Black Knight Financial Services in Jacksonville, Fla.

MBA Education presents its Collateral Underwriting Workshop on Friday, July 21 from 8:30 a.m.-5:00 p.m. ET MBA Headquarters in Washington, D.C.