The Lede

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More Loan Processes Are Going Digital
UExpress, June 2, 2017--Lew SichelmanImportant parts of obtaining financing--the appraisal, the underwriting process and the loan servicing--are changing, but at a slower pace.
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Mortgages for Seniors? Available, But Exacting
New York Times, June 2, 2017--Vivian MarinoAn increasing number of older Americans prefer to have a mortgage. Some lenders can be more flexible than others. "I encourage people to shop at least three lenders," said David H. Stevens, the president of the Mortgage Bankers Association, "and then likewise, ask real estate agents or financial planners, who are good resources for helping a retiree."
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Commercial and Multifamily Mortgage Delinquency Rates Mostly Down
National Mortgage Professional, June 2, 2017--Phil HallDelinquency rates for commercial and multifamily mortgage loans were saw mostly unchanged or down slightly during the first quarter, according to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report.
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Mortgage Trustees Accept Lehman’s $2.4 Billion Bankruptcy Offer
Wall Street Journal, June 2, 2017--Andrew Scurria (subscription)Officials representing 244 mortgage-backed securities trusts have largely accepted a settlement offer Thursday that puts a floor of $2.4 billion, subject to a judge's approval, on claims against the Lehman bankruptcy estate.
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Mortgage Company Investors Demand Its Liquidation
Mortgage Professional America, June 2, 2017--Ryan SmithIn an open letter to Owens Realty Mortgage, Freestone Capital Management - which, together with its affiliates, owns about 7.6% of Owens' outstanding shares - slammed Owens management for "questionable decisions" and its "continued destruction of shareholder value."
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How Trump can Make the FHA More Lender-Friendly
National Mortgage News, June 2, 2017--Brian Collins (subscription)Regulatory relief has been a central tenet of the Trump administration's strategy to strengthen the economy. That philosophy could be applied to the housing market with changes to government-backed mortgage programs to improve access to credit and increase homeownership.
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House Set to Vote on Law to ‘Dismantle’ Dodd-Frank
HousingWire, June 2, 2017--Brena SwansonThe House of Representatives is set to consider the Republican-led Financial CHOICE Act, H.R. 10, Wednesday, which is the leading option to replace the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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S&P: Mortgage Bond Market on Track for Best Year Since 2013
HousingWire, June 2. 2017--Ben LaneAccording to the S&P report, 2017's total RMBS-related issuance, which S&P defines as prime, re-performing/nonperforming, rental bonds, servicer advances, and risk-sharing deals, sat at $27 billion at the end of May.
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How CFPB Lawsuit Puts Spotlight on Other Agencies’ Independence
National Mortgage News, June 2, 2017--John Heltman (subscription)The Consumer Financial Protection Bureau is in the direct crosshairs of a federal lawsuit questioning the bureau's leadership structure. But in a larger context, it might be the independence of all federal agencies on trial.
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12 Million Set for Credit Boost
Washington Post Writers Group, June 4, 2017--Kenneth R. HarneyAccording to a new study of 30 million credit files by score developer FICO, many Americans will experience bumps in the coming months, mainly modest increases of less than 20 points. But hundreds of thousands of the increases will be super-sized--in the range of 40 to 60 points and higher.
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Holiday Pulls Down Weekly Mortgage Market Index
Mortgage Daily, June 5, 2017As expected, new mortgage business turned sharply lower during the week that included Memorial Day. Business unexpectedly sank, though, from a year ago.
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CMBS Delinquency Highest Since 2015
Mortgage Daily, June 2, 2017Performance on securitized commercial real estate loans was worse in any month since 2015, said Morningstar Credit Ratings LLC.
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House Republicans Seek to Double Tax Deductions on Mortgage Interest, Charitable Giving
Washington Times, June 4, 2017--David SherfinskiCongressional Republicans say they will preserve popular tax breaks for charitable giving and mortgage interest, but advocacy groups say even if they aren't directly targeted, nonprofits and the housing industry are likely to take hits. Some analysts are anticipating as much as a 10 percent drop in home prices if Republicans go ahead with its tax plans, which would flatten out the system.
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