The Lede

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Homeowners Refuse to Tap into Massive Equity. Is that a Mistake?
The Mortgage Reports, July 19, 2019--Erik J. MartinA strong housing market and rising home prices have contributed to higher rates of home equity. And home equity can be tapped via a home equity loan, home equity line of credit, or cash-out refi. But new research shows that, while owners are flush with equity, they aren't tapping it as often as they did in the past. Most are choosing to continue building wealth and not borrow against what they've earned.
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Fed Officials Signal Quarter-Point Rate Cut Likely at July Meeting
Wall Street Journal, July 19, 2010=9--Nick Timiraos (subscription)Federal Reserve officials signaled they are ready to cut interest rates by a quarter-percentage point at their coming meeting, while indicating the potential for additional reductions because they are worried about a slowdown in global growth, an increase in trade-policy uncertainty and a pullback in inflation.
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Senior House Republican Proposes Credit Reporting Changes
National Mortgage News, July 19, 2019--Neil Haggerty (subscription)Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, has proposed several reforms to the credit reporting industry aimed at improving consumers' access to credit.
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Bank of America Claims Ditech’s Sale of RMS ‘Threatens to Abandon’ Elderly Reverse Mortgage Borrowers
HousingWire, July 19, 2019--Jessica GuerinBank of America, which has a reverse mortgage servicing agreement with Ditech subsidiary Reverse Mortgage Solutions, filed a motion in court Thursday objecting to the deal as it currently stands, claiming that it "threatens to abandon the thousands of elderly borrowers" whose reverse mortgages are being serviced by RMS.
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Equifax Is Said to Be Near $650 Million Settlement for Data Breach
New York Times, July 19, 2019--Stacy Coley, Peater EavisCredit bureau Equifax is expected to pay around $650 million to settle federal and state investigations and consumer claims relating to a data breach that exposed sensitive information belonging to 145 million people.
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Housing Discrimination Lawsuit against Bank of America Gets Green Light
HousingWire, July 19, 2019--Jessica GuerinA federal judge in Maryland denied a motion Thursday to dismiss a lawsuit brought against Bank of America and Safeguard Properties Management by the National Fair Housing Alliance, 19 fair housing organizations and two homeowners for alleged fair housing violations.
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As-Is Often Means As-Won’t
UEXpress, July 19, 2019--Lew SichelmanHomeowners who sell their houses "as-is" may end up costing themselves more than they would have spent to make the necessary repairs -- if they are able to sell their homes at all.
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MBA News

Keith Urban Highlights Concert MBA at Annual 19
Early registration deadline for the Mortgage Bankers Association’s Annual Convention & Expo is fast approaching. You can save up to $200 if you register by this Friday, Aug. 1. For ...
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MISMO Elective–Introduction to MISMO’s Logical Data Model Webinar July 23
MISMO presents a webinar, Introduction to MISMO's Logical Data Model, this Tuesday, July 23 from noon-1:00 p.m. ET.
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