The Lede

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Propriety Reverse Mortgage Products Could Eclipse FHA’s HECM Program in 2019
Forbes, July 2, 2019--Jamie HopkinsThe reverse mortgage market world heads in reverse away from the government created Home Equity Conversion Mortgage and towards new propriety products. This is an encouraging sign because any healthy market needs competition, innovation and variety.
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Commercial Property Joins Tech Revolution as Spending Soars
Wall Street Journal, July 2, 2019--Peter Grant, Konrad Putzier (subscription)For years, real estate technology startups watched from the fringes as big banks and venture capital firms lavished attention on financial technology firms. Now "proptech" has joined the party.
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Trump Says He Intends to Nominate Christopher Waller, Judy Shelton for Fed Board
The Hill, July 2, 2019--Brett SamuelsWaller is currently executive vice president of the Federal Reserve Bank of St. Louis, while Shelton is the U.S. executive director of the European Bank for Reconstruction and Development. Both nominees will require Senate confirmation.
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Mortgage Bonds at Heart of Crisis Dwindle in Supply as New Breeds Take Root
MarketWatch, July 2, 2019--Joy WiltermuthMortgage bonds packed with crisis-era home loans have dwindled to just $431.5bn from their 2007 peak of more than $2.3 trillion as home foreclosures, borrower defaults and loan repayments have trickled through the system, according to Bank of America Merrill Lynch data.
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No Relief Yet for Lenders Where False Claims Enforcement is Concerned
National Mortgage News, July 2, 2019--Brad Finkelstein (subscription)Mortgage lenders might be feeling a little less stressed over False Claims Act actions being brought against them following recent headlines but there is still some work to be done before they can chill out.
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Former HUD Employee Admits to Accepting Super Bowl Tickets, Other Bribes from Government Contractor
HousingWire, July 2, 2019--Ben LaneKevin Jones, A long-time HUD employee, will serve two years in prison after admitting to accepting numerous bribes, including tickets to three different Super Bowls, thousands of dollars in cash and other gifts, in exchange for providing information about government contracts to a private business owner.
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Rich Get Richer, Everyone Else Not So Much in Record U.S. Expansion
Reuters, July 2, 2019--Trevor HunnicuttWelcome to the longest U.S. economic expansion in history, one perhaps best characterized by the excesses of extreme wealth and an ever-widening chasm between the unfathomably rich and everyone else.
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