The Lede

National Mortgage Professional, June 27, 2017--Phil HallLess than one-third of Millennials are homeowners, but the homeownership rates among this youthful demographic are significantly lower in expensive coastal cities and pricey college towns, according to a new data analysis from ABODO.

Wall Street Journal, June 27, 2017--Laura Kusisto (subscription)The national vacancy rate climbed to 4.4% for the quarter from 4.2% a year earlier, according to data released by Reis Inc. Nonetheless, average rents across the U.S. increased 3% year-over-year in the second quarter.

HousingWire, June 27, 2017--Ben LanePrime Credit, IMC Capital, Commercial Credit Consultants and Park View Law, formerly known as Prime Law Experts, and several executives in charge of the various companies will pay more than $2 million for the alleged illegal actions.

Reuters, June 27, 2017--William Schomberg, Marc Jones, Lindsay Dunsmuir, Jason LangeU.S. Federal Reserve Chair Janet Yellen said on Tuesday that she does not believe that there will be a run on the banking system at least as long as she lives.

Wall Street Journal, June 27, 2017--Laura Kusisto (subscription)San Francisco, once the hottest housing market in the U.S., is now one of the coolest, in a reversal that could presage a broader slowdown if more buyers decide it isn't worth chasing rapidly rising prices.

Mortgage Daily, June 27, 2017--Sam GarciaDallas with 8.4 percent year-over-year appreciation, Denver with 8.2 percent and Detroit with 7.4 percent rounded out the top five, led by Seattle and Portland.

National Mortgage News, June 27, 2017 (subscription)The U.S. will impose further punitive tariffs on imports of softwood lumber from Canada, escalating a longstanding trade dispute that's already led to higher timber prices.

Mortgage Daily, June 27, 2017On Tuesday, New York Community Bancorp disclosed an agreement to sell the mortgage banking business, which it inherited through AmTrust. The buyer in the transaction, Freedom Mortgage Corp., will pick up both the origination and servicing platforms.

Scotsman Guide, June 27, 2017--Victor WhitmanThe Mortgage Bankers Association, the nation's largest mortgage trade group, is concerned that withholding this data will produce so-called "false positives" in applications. In other words, a person may appear a better risk than they are and get approved for a mortgage when they don't qualify, or they'll get a mortgage at a lower cost than their risk warrants.

HousingWire, June 27, 2017--Brena SwansonThe Consumer Financial Protection Bureau released updated guidance along with two technical corrections to the final mortgage servicing rule that is set to go into effect Oct. 19.

National Mortgage News, June 27, 2017--Ian McKendry (subscription)The Senate is set to begin teeing up housing finance reform discussions at a Banking Committee hearing on Thursday, but many are skeptical that Congress will be able to succeed where it has failed in the past.

New York Post, June 27, 2017--Steve CuozzoManhattan's office market could be headed for trouble despite today's solid-seeming condition and euphoria over big chunks of space being gobbled up by marquee tenants at glamorous new towers.

New in today's issue of MBA Insights:  Evaluations are as much a part of the lending arena as the credit underwriting concepts, but when is it appropriate to use this alternative product is of constant debate.