The Lede

Top National News

What Is the True Number of Store Closings for 2017?
National Real Estate Investor, Oct. 13, 2017--Donna Mitchell The two schools of thought on retail store closures seem very far apart.
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GOP Tax Plan Would Keep the Mortgage Break But Threaten Irrelevancy
Wall Street Journal, Oct. 16, 2017--Laura Kusisto (subscription)The tax-overhaul plan being negotiated in Washington has the potential to virtually eliminate a break lawmakers once considered untouchable: the mortgage interest deduction.
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Housing Groups Spar Over Mortgage Deduction
Wall Street Journal, Oct. 16, 2017--Laura Kusisto (subscription)The debate over diminishing the tax incentive for homeownership has created a rift between two powerful trade groups representing real-estate brokers and home builders.
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Ocwen Unit Among Recent 3rd-Party Lenders to Close
Mortgage Daily, Oct. 13, 2017--Sam GarciaAmong three third-party mortgage originators that are closing is an Ocwen Financial Corp. unit. Multiple credit unions failed over this past summer.
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MGIC Improves M.I. Pricing
Mortgage Daily, Oct. 13, 2017Changes being made by Mortgage Guaranty Insurance Corp. will result in improved prices on mortgage insurance premiums for some borrowers.
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‘Duty to Serve’ Helps Borrowers
UExpress, Oct. 13, 2017--Lew SichelmanFederal mortgage agencies Fannie Mae and Freddie Mac have long been tasked by Congress with serving areas that don't get much attention from the private sector. And that could help you get a home loan.
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Vulnerabilities in Equifax’s The Work Number Raise New Security Doubts
National Mortgage News, Oct. 13, 2017--Bonnie Sinnock, Austin Kilgore (subscription)Recently exposed security vulnerabilities in an Equifax tool used extensively in the mortgage industry are raising new questions about the reliability and veracity of the beleaguered credit bureau's employment verification service.
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CFPB’s Enforcement Chief to Leave
National Mortgage News, Oct. 13, 2017--Kate Berry (subscription)The Consumer Financial Protection Bureau said Friday that its enforcement chief, Anthony Alexis, plans to leave the agency after more than five and a half years.
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Equifax’s Grip on Mortgage Data Squeezes Smaller Rivals
New York Times, Oct. 13, 2017--Gretchen MorgensonLike it or not, when you apply for a home mortgage or to refinance an existing loan, Equifax will be a part of the process.
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Mortgage Bankers Open to Rewrite of Homeowner Tax Breaks
Politico, Oct. 13, 2017--Lorraine WoellertThe Mortgage Bankers Association said it is open to a rewrite of homeowner tax breaks as part of a broader reform package, adding to the political momentum in support of a mortgage tax credit.
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38 States Call on Experian and TransUnion to Drop Credit Freeze Fees in Wake of Equifax Breach
HousingWire, Oct. 13, 2017--Ben LaneEarlier this week, the attorneys general for 38 states sent letters to Experian and TransUnion, calling on the credit reporting agencies to stop charging consumers to freeze their credit. Each state has different rules around credit freezes, but in some states, it costs $10 to place a credit freeze on their account and another $10 if they want to lift the freeze.
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BofA Beefs up Rep and Warrant Reserves Ahead of Mortgage Settlement
National Mortgage News, Oct. 13, 2017 (subscription)Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.
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The Political Color Chart: More People Moving to Blue Counties
National Mortgage Professional, Oct. 13, 2017--Phil HallThe nation's political environment seems to be impacting its housing markets, according to a new data analysis from Redfin.
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Mortgage Guidelines Could be Twice as Loose and it Still Wouldn’t be 2007 Again
Mortgage News Daily, Oct. 13, 2017--Jann SwansonSignificant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be within the pre-crisis (2001-03) standard of 12.5 percent for the whole mortgage market.
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Wells Fargo Revises Expense Outlook, Signaling Profit Difficulties Ahead
Reuters, Oct. 13, 2017--Dan Freed, Sweta SinghWells Fargo & Co management signaled on Friday that the bank may struggle to hit expense targets through next year, raising questions about how much a sales scandal is weighing on the bottom line.
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Mortgage Bankers Support Republican Tax Plan
Washington Examiner, Oct. 13, 2017--Joseph LawlerThe Mortgage Bankers Association have given a thumbs-up to the Republican tax reform framework, another indication that the GOP tax push so far is avoiding outright opposition from the important housing sector.
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MBA’s Stevens Expresses Concern on Cutting Section 1031 from Tax Code
National Mortgage Professional, Oct. 13, 2017--Phil HallMBA President and CEO David Stevens, CMB, said many mortgage professionals were concerned over the potential limiting or eliminating of tax code provisions including the continued deductibility of business interest and the preservation of Section 1031 like-kind exchanges for investment real estate.
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Residential Finance News

Commercial/Multifamily News

MBA News

MBA Education De-Mystifying Secondary Marketing Webinar Part I Nov. 13
MBA Education presents the first of its popular two-part webinar series, De-Mystifying Secondary Marketing Part I on Monday, Nov. 13 from 2:00-3:30 p.m. ET.
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MBA Whole Loan Trading Workshop in Chicago Nov. 9
The Mortgage Bankers Association presents its annual Whole Loan Trading Workshop, taking place Thursday, Nov. 9 in Chicago.
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MBANow: mPact Events at MBA Annual Convention & Expo
The Mortgage Bankers Association released a new MBANow video featuring MBA Regulatory Assistant with Public Policy Jordan Bucher, who discusses mPact events at the upcoming MBA Annual Convention & Expo.
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MBANow: mPact Events at MBA Annual Convention & Expo
The Mortgage Bankers Association released a new MBANow video featuring MBA Regulatory Assistant with Public Policy Jordan Bucher, who discusses mPact events at the upcoming MBA Annual Convention & Expo.
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MBANow: mPact Events at MBA Annual Convention & Expo
The Mortgage Bankers Association released a new MBANow video featuring MBA Regulatory Assistant with Public Policy Jordan Bucher, who discusses mPact events at the upcoming MBA Annual Convention & Expo.
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