The Lede

CNBC, May 23, 2018--Diana OlickA sharp rise in interest rates last week meant far fewer homeowners could benefit from a mortgage refinance. That was the primary driver behind a 2.6 percent drop in total mortgage application volume last week, according to the Mortgage Bankers Association.

National Mortgage News, May 23, 2018--Bonnie Sinnock (subscription)Government-sponsored enterprises Fannie Mae and Freddie Mac are in a race to offer services and technology that help mortgage bankers raise cash from mortgage servicing rights.

Reuters, May 23, 2018--Richard LeongU.S. mortgage bankers are concerned about the coming phaseout of a global interest rate benchmark because, they said at a Mortgage Bankers Association conference, the transition will entail costs and administrative burdens and the replacement rate is not an ideal substitute.

National Mortgage News, May 23, 2018--Elina Tarkazikis (free story)As the mortgage industry moves farther past the housing crisis, access to credit remains tight, especially for first-time homebuyers. The mortgage industry is taking half, possibly even less than half, of the risk it was taking in 2001 and 2002, according to Laurie Goodman, center director at the Urban Institute, who was among panelists speaking at the Mortgage Bankers Association's National Secondary Conference in New York.

HousingWire, May 23, 2018--Sarah WheelerThe challenges facing the mortgage market are many: a significant shortage of housing, rising interest rates and first-time homebuyers who need specialized underwriting are just the start. But leaders from Fannie Mae and Freddie Mac assured attendees at the MBA Secondary Marketing Conference on Tuesday that the GSEs were ready to partner with them to meet these challenges.

National Mortgage News, May 23, 2018--Brad Finkelstein (free story)Rising interest rates, fewer applications and tighter margins were on the minds on lenders at the 2018 Mortgage Bankers Association Secondary Market Conference in New York.

National Mortgage News, May 23, 2018--Bonnie Sinnock (free story)Digital mortgage efficiencies span from origination to the secondary market and beyond, but something as small as a low-quality image in the loan file can cause headaches with investors.

National Mortgage News, May 23, 2018--Neil Haggerty (subscription)With the clock ticking down on his term as head of the Federal Housing Finance Agency, Mel Watt made clear Wednesday that he will continue implementing administrative housing finance reforms as Congress fails to achieve legislative changes.

HousingWire, May 23, 2018--Sarah WheelerOne thing that stood out at the MBA Secondary Marketing conference this year was the growing appetite for non-QM loans. It's a tough market, and the easy loans where borrowers neatly line up with qualified mortgage standards are harder and harder to find.

Bloomberg, May 24, 2018--Prashant Gopal (subscription)A branch manager gets home loans for borrowers with weak credit or low incomes--and taxpayers back him up.

Mortgage Daily, May 23, 2018Union Mortgage Group Inc., Glen Allen, Va., will shutter its mortgage banking business and turn to another financial institution to provide mortgage services.

Mortgage Daily, May 23, 2018A seven-month run for year-over-year increases in mortgage delinquency came to an end last month as the number of loans in active foreclosure was the lowest in more than a decade, said Black Knight.