The Lede

Hispanic Executive, July 2018--Rhiannon Root"Eddy Perez one of our industry's greatest advocates," said David Stevens, CMB, President and CEO of the Mortgage Bankers Association. "He has been a leading voice for the dream of homeownership and has driven a culture of political and community engagement down though his company. Our industry needs more leaders like Eddy."

Wall Street Journal, July 2, 2018--Michael Rapoport (subscription)PricewaterhouseCoopers LLP must pay $625.3 million in damages for failing to catch a fraud scheme that helped cause one of the biggest bank failures of the financial crisis, involving Colonial Bank in Alabama, a federal judge ruled Monday.

National Mortgage News, July 2, 2018--Brad Finkelstein (subscription)The number of nonbank mortgage lenders and servicers that did not comply with the California Residential Mortgage Lending Act Annual Report requirements grew this year, prompting a reprimand and warning of penalties from the commissioner of the state's Department of Business Oversight.

National Mortgage Professional, July 2, 2018--Phil HallKathy Kraninger, President Trump's choice to serve as the next Director of the Consumer Financial Protection Bureau, will receive a confirmation hearing before the Senate Banking Committee on July 19.

HousingWire, July 2, 2018--Kelsey RamirezThe Federal Reserve announced Monday that it is extending the stress test filing deadline by one year for some of the nation's largest banks.

Mortgage Daily, July 2, 2018--Sam GarciaThis year has been busy for mergers and acquisitions in the mortgage industry so far.

Mortgage Daily, July 2, 2018Fannie Mae, Freddie Mac and Ginnie Mae reported $99.571 billion in fixed-rate mortgage backed securities issued during June.

National Mortgage News, July 2, 2018--Paul Centopani (subscription)Commercial and multifamily mortgage debt outstanding grew $44.3 billion during the first three months of 2018, the largest first-quarter gain since before the Great Recession, according to the Mortgage Bankers Association.

HousingWire, July 2, 2018--Jeremiah JensenIt's the underdog story of the decade. Class-C is now on top of the multifamily food chain, boasting tighter occupancy rates than Class-B and Class-A, according to a report from RealPage.

Urban Institute, July 2, 2018--Laurie Goodman, Bhargavi GaneshIn a research brief, the authors say increasing the annual supply of the one of the most affordable types of housing, manufactured housing, from the 93,000 units produced in 2017 could ease the country's severe shortage of affordable housing.

The Mortgage Bankers Association's Commercial Real Estate Finance Market Intelligence Symposium returns to New York City July 11-12.