The Lede

The Real Deal, Feb. 12, 2018--Will ParkerThe White House Office of Management and the Budget released its 2019 federal budget proposal on Monday, calling for an 18.3 percent reduction in funding for the Department of Housing and Urban Development. The $8.8 billion proposed cut to HUD is even deeper than the roughly $7 billion the White House wanted to withhold from the department last year.

The Hill, Feb. 12, 2018--Brett SamuelsAmong the agencies slated for elimination: The Rural Business and Cooperative Service; The Economic Development Administration; and the HUD Neighborhood Reinvestment Corp.

Bloomberg, Feb. 12, 2018--Joe LightIn its 2019 spending plan released Monday, the administration asked Congress to raise the fees Fannie and Freddie charge to back payments on mortgage-backed securities by 0.1 percentage point, a move it said would reduce the federal budget deficit by $25.7 billion over the next decade.

CNBC, Feb. 12, 2018--Diana OlickMortgage rates are now at their highest level in four years and poised to move even higher. The timing couldn't be worse, as the usually busy spring housing market kicked into gear early this year amid higher home prices and strong competition for a record low supply of homes for sale.

National Mortgage News, Feb. 12, 2018--Bonnie Sinnock (subscription)Homebuyers are most likely to slow their purchases or stay on course if mortgage rates rise above a certain benchmark, but some could act more quickly or drop out.

National Mortgage Professional, Feb. 12, 2018--Phil HallA single homebuyer needs to devote 11 years to savings for a 20 percent downpayment on the typical U.S. home, while married or partnered couples require less than five years, according to a new Zillow analysis.

Mortgage Daily, Feb. 12, 2018The latest request for information from the Consumer Financial Protection Bureau marks the third in the past month as the Trump administration continues to reduce regulation on financial services providers.

Commercial Property Executive, Feb. 12, 2018--Sanyu KyeyuneOrigination volume is slowing, according to the Mortgage Bankers Association. MBA forecasts $549 billion in commercial and multifamily originations by year-end 2018, down 3 percent from 2017, and near-flat volume in 2019.

HousingWire, Feb. 12, 2018--Ben LaneOtto Kumbar was, until last week, Ocwen's executive vice president of lending, but Ocwen disclosed Monday that Kumbar's position was eliminated "in connection with the company's previously disclosed strategic assessment of its lending business."

HousingWire, Feb. 12, 2018--Kelsey RamirezThousands of lending jobs are now at risk as the number of refinances continue to fall, threatening to sink to their lowest level since 2000. The Mortgage Bankers Association recently predicted the Federal Reserve will raise the federal funds rate four times in 2018 and twice more in 2019.

National Mortgage Professional, Feb. 12, 2018--Phil HallCommercial and multifamily mortgage originations during 2017 was up 15 percent from the previous year, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

DS News, Feb. 12, 2018--David WhartonAccording to the MBA Fourth Quarter 2017 National Delinquency Survey, general downward trends for mortgage delinquencies continued as 2017 wrapped up, even after the impact of a historically damaging hurricane season.

National Mortgage News, Feb. 12, 2018--John Heltman, Ian McKendry (subscription)The Trump administration's 2019 budget highlights the administration's goal of reining in the post-crisis regulatory apparatus, with proposed cuts for several agencies including the Consumer Financial Protection Bureau.

HousingWire, Feb. 12, 2018--Ben Lane"If there is one way to summarize the strategic changes occurring at the bureau, it is this: we have committed to fulfill the bureau's statutory responsibilities, but go no further," Mulvaney said in a statement.

Mortgage Daily, Feb. 12, 2018Mortgage servicing rights are being offered on 4,263 Fannie Mae, Freddie Mac and Ginnie Mae loans with a collective unpaid principal balance of $773 million as of Dec. 29.

MBA Education presents its Advance Servicing Workshop in Phoenix Apr. 4-5.