The Lede

Top National News

Do Regulations Really Increase New Home Prices by 25 Percent?
Mortgage Orb, Sept. 28, 2017--Peter G. MillerThe Internet, media reports and congressional testimony are always rife with rumors and tall tales. But what about the claim that government regulations increase the cost of new home construction by 25%?
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How to Vet a Remodeler
UExpress, Sept. 29, 2017--Lew SichelmanAccording to a survey of its members by the National Association of the Remodeling Industry, customers are asking the wrong questions.
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Quicken Loans Founder: I Agree With Gary Cohn–Mortgage Deductions Aren’t Why People Buy Homes
CNBC, Sept. 29, 2017--Matthew Belvedere Billionaire Quicken Loans founder and Chairman Dan Gilbert said Friday that people don't buy homes because of the mortgage interest deduction, echoing a comment from Trump economic advisor Gary Cohn about the GOP tax overhaul.
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Stricter Building Codes Saved Florida’s Commercial Buildings from Irma’s Wrath
National Real Estate Investor, Sept. 29, 2017--Patricia Kirk A little over two weeks after Hurricane Irma made landfall in Florida, it's business as usual for commercial real estate brokers on the ground.
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Trump Meets With Former Fed Governor Kevin Warsh About Chairman Job
Wall Street Journal, Sept. 29, 2017--Michael C. Bender (subscription)President Donald Trump and Treasury Secretary Steven Mnuchin met with former Federal Reserve governor Kevin Warsh on Thursday to discuss his potential nomination as the next Fed chairman, a White House official said, signaling that the West Wing is moving ahead with a process that the president has said he would like to have completed by the end of the year.
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Low Inventory Flatlines Housing Demand in New Data Report
National Mortgage Professional, Sept. 29, 2017--Phil HallA shrinking inventory is being blamed for the stagnation in the latest Redfin Housing Demand Index, which barely inched up from 126 in July to 127 in August. On a year-over-year basis, however, the index was up 27.7 percent.
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Lenders Originate Riskier Mortgages in the Second Quarter
National Mortgage News, Sept. 29, 2017--Brad Finkelstein (subscription)Mortgage lenders took on more risk in the second quarter as the share of loans to real estate investors and condominium owners increased, according to CoreLogic.
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OCC Claims Proof CFPB Wrong on Arbitration Rule
HousingWire, Sept. 29, 2017--Brena SwansonThe Office of the Comptroller of the Currency noted the Consumer Financial Protection Bureau said analysts were unable to identify any evidence from the data to indicate companies that removed their arbitration agreements raised their prices.
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GSE Reforms
American Action Forum, Sept. 29, 2017--Douglas Holtz-EakinThe author states: "It is far past time for Congress to take on housing finance reform. It is a truly bipartisan issue, has large consequences for the growth of the economy and welfare of the middle class, and thus should be at the top of the policy agenda."
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Bankers Anxious over Consumer Reactions to Equifax Breach
Reuters, Sept. 29, 2017--David Henry, Ross KerberU.S. lenders are concerned their consumer loan and credit card businesses could be stymied if large numbers of people lock or freeze their credit reports to protect themselves in the wake of the Equifax Inc. hack.
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U.S. Chamber, Banking Groups Sue over CFPB Arbitration Rule
National Mortgage News, Sept. 29, 2017--Ian McKendry (subscription)The U.S. Chamber of Commerce along with 13 other business associations and five financial trade associations filed a lawsuit Friday against the Consumer Financial Protection Bureau, arguing that its rule banning mandatory arbitration agreements harms consumers.
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Morgan Stanley Closing In on $400 Million in Consumer Relief for Mortgage Bond Settlement
HousingWire, Sept. 29, 2017--Ben LaneMorgan Stanley is nearing the end of its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year.
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FHA Mortgagee Settles for Over $1 Million
Mortgage Daily, Sept. 29, 2017Residential Home Funding Corp. was approved by the Federal Housing Administration as a direct endorsement lender from 2006 until 2012. But the White Plains, New York-based mortgage banking organization is accused of failing to maintain a compliant quality-control program.
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Decade Low Delinquency at Fannie as Book Expands
Mortgage Daily, Sept. 29, 2017Single-family performance at Fannie Mae is better than it's been in nearly a decade. Meanwhile, the manged portfolio continued to grow.
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U.S. Consumer Sentiment Cools as Storms Deliver Hit to Outlook
Bloomberg, Sept. 29, 2017--Agnel PhilipConcern over the fallout from a pair of late-summer hurricanes caused U.S. consumer sentiment to dip in September, though Americans remain relatively optimistic about the direction of the economy, a University of Michigan survey showed Friday.
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MBA News

NMLS Launches 2018 Licensing Renewal Effort
The Nationwide Mortgage Licensing System's 2018 Streamlined Renewal Process begins November 1 and ends December 31.
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MISMO Seeks Nominations for Standards Governance Committee
MISMO seeks nominations of qualified industry professionals to serve on its Standards Governance Committees for two-year terms beginning in January.
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