The Lede

First American Financial Corp., Santa Ana, Calif., said its monthly Loan Application Defect Index fell in October, but noted an increase in the busy South region.

Enjoy it while you can, you refinancers. ATTOM Data Solutions, Irvine, Calif., said even though housing finance is shifting to a purchase market, refinancings increased in the third quarter ahead of real and projected mortgage interest rate hikes.

Report Shows 'Downward Trend' in Critical Defect Rates

Millennials Most Affected

"It would return us to a world of rules that are relatively well settled and interpreted."

Credit Quality of New Transactions Should Be 'Little Changed'

Mortgage Daily, Nov. 30, 2016 Freddie Mac, which made the predictions in its November 2016 Economic & Housing Market Forecast, cut its first-quarter 2017 forecast from $340 billion projected last month.

MortgageOrb, Dec. 5, 2016--Hoffman, Debbie; Roque, Rick There is no room for getting comfortable quite yet, as the mortgage industry must focus on new reporting requirements under the Home Mortgage Disclosure Act--which has been dubbed "TRID's Daughter" by one of the industry's leading service providers.

GoRion, Dec. 2, 2016--Schwartz, Faith There is firm interest in this new and growing execution for risk transfer by investors who have confidence in the underwriting and servicing of mortgage loans through new and improved GSE standards.

Mortgage Daily, Dec. 2, 2016 Growing defaults from a wave of securitized commercial real estate loans that are maturing are likely to be exacerbated by the upcoming implementation of the risk retention rule.

National Mortgage Professional, Dec. 2, 2016--Hall, Phil The incoming Trump Administration's decision to prioritize the long-stalled reform of the government-sponsored enterprises (GSEs) has been greeted with praise from the head of the nation's major mortgage banking trade group.

Washington Post, Dec. 5, 2016 "I am thrilled to nominate Dr. Ben Carson as our next Secretary of the U.S. Department of Housing and Urban Development. Ben Carson has a brilliant mind and is passionate about strengthening communities and families within those communities," the president-elect said.

Mortgage Daily, Dec. 1, 2016 Issuance of agency mortgage-backed securities retreated to the lowest level in four months.

HousingWire, Dec. 1, 2016--Swanson, Brena The idea and desire for GSE reform isn't an easy hurdle to clear, said Jeb Mason, a partner with The Cypress Group.

National Mortgage News, Dec. 1, 2016--Passy, Jacob Bank of America has conditionally completed 97% of the $7 billion in consumer relief it agreed to provide as part of its 2014 settlement with the Department of Justice and six states. 

GoRion, Dec. 1, 2016--Sichelman, Lew Dissident stockholders in Fannie Mae and Freddie Mac rolled out the heavy guns earlier this month to slow what appears to be a groundswell of support for the Federal Housing Finance Agency's plan to reduce the government's risk exposure by moving more private capital into the first-loss position ahead of the GSEs' through expanded mortgage insurance.

National Mortgage News, Dec. 1, 2016--Sinnock, Bonnie President-elect Donald Trump's tax overhaul may include capping the mortgage interest deduction, according to Treasury Secretary-designate Steve Mnuchin.

Mortgage Daily, Nov. 30, 2016 Serious residential loan delinquency at Fannie Mae dropped to the lowest level since it fell into conservatorship.

Wall Street Journal, Nov. 29, 2016--Timiraos, Nick Shawn Krause is executive vice president of government advocacy for Quicken Loans Inc., the privately held mortgage company that is the largest underwriter of mortgages backed by the Federal Housing Administration, which is part of HUD.

Washington Post, Nov. 30, 2016--O'Connell, Jonathan Japanese home-building giant Sekisui House announced Wednesday that it is buying the main Fannie Mae headquarters building on Wisconsin Avenue NW in an $89 million deal for one of the largest development sites in the District.

GoRion, Nov. 29, 2016--Bourgi, Sam With Republicans controlling both houses of Congress, talks about ending the conservatorship are resurfacing. After all, it was never meant to last this long.

HousingWire, Nov. 30, 2016--Swanson, Brena Genworth survey of attendees at MBA Annual Convention shows industry making progress in compliance and access to credit, but headwinds persist.

Washington Post, Nov. 30, 2016--Harney, Kenneth R. The two behemoths of the mortgage business--Fannie Mae and Freddie Mac--continue to use a credit-scoring model that even its developer, FICO, says is not as "predictive" as its much newer models. Michael Fratantoni, chief economist for the Mortgage Bankers Association, said "by sticking to old models we are disadvantaging" sizable numbers of consumers.

The Street, Nov. 30, 2016--Ragusa, Gina Rising mortgage rates and an uncertain financial future is prompting house hunters to seek a low down payment mortgage option as finding an affordably priced home remains arduous. MBA President and CEO David Stevens noted investor expectations are driving jump in mortgage rates.

National Mortgage News, Nov. 30, 2016--Sinnock, Bonnie Removing Fannie Mae and Freddie Mac from government control, as Treasury Secretary-designate Steven Mnuchin would like to, could mean the two entities will do more to compete for lenders' loans. "Private companies can be more innovative and they can compete more for customer service, potentially, if we do this right," said Mortgage Bankers Association CEO David Stevens.

National Mortgage News, Nov. 29, 2016--Passy, Jacob Freddie Mac has published a list of companies that meet its requirements regarding the creation, signing and storage of electronic promissory notes.

Fox Business, Nov. 29, 2016--Caplinger, Dan Right now, there aren't major legal changes on the books that will affect the mortgage deduction in 2017, but the recent results of the presidential election point to a broader shift that could have implications for some homeowners in the future.

Mortgage Daily, Nov. 29, 2016 Monthly volume of residential loans endorsed by the Federal Housing Administration declined and could move even lower. A modest improvement was recorded for delinquency.

HousingWire, Nov. 29, 2016--Lane, Ben The Consumer Financial Protection Bureau just fired a shot across the bow of all companies that provide financial services to consumers, warning companies about the risks inherent in sales incentives programs like the one that led to a massive fine being handed down against Wells Fargo.

Mortgage Daily, Nov. 29, 2016 Even though the volume of complaints filed against financial services providers has risen from a year ago, mortgage complaint volume was down, the Consumer Financial Protection Bureau said.