The Lede

First Mortgage Default Rate Down 1bp

Permanent Modifications Top 8 Million

GSEs Announce Initiatives to Cut Origination Costs, Offer Rep-Warranty Relief, Shift Credit Risk

Despite Their New Higher Wall Street Profile

ValueWalk, Oct. 18, 2016--Investors Unite "MBA has for decades advocated for a bright line between primary and secondary markets," MBA President David Stevens wrote in the letter to the Federal Housing Finance Agency. "One aspect of this bright line is that primary market lenders select front-end credit enhancements, while the GSEs structure back-end credit enhancements."

Wall Street Journal, Oct. 18, 2016--Friedman, Robyn Even as sales of luxury homes slow in some markets, jumbo lending has picked up. That's because looser underwriting rules--especially income requirements--have enabled more people to qualify for credit.

National Mortgage News, Oct. 18, 2016--Passy, Jacob By decreasing costs through technology, outsourcing and scale, mortgage servicers not only can give their margins a much-needed boost but also set themselves up to reap the rewards in the future.

Mortgage Daily, Oct. 18, 2016 Government-sponsored enterprise mortgages refinanced by loan originators reached the highest level in almost a year-and-a-half.

Wall Street Journal, Oct. 18, 2016--Goldfarb, Sam Wells Fargo & Co. on Tuesday delayed selling a 10-year bond after S&P Global Ratings revised the outlook on its credit rating to negative from stable.

Washington Post, Oct. 19, 2016--Harney, Kenneth R. A decision last week by a federal appellate court is casting new light on practices in the real estate field that buyers and sellers often know little about: creative, under-the-table payoff schemes among realty brokers, mortgage lenders and title companies that can stifle market competition and raise settlement costs to consumers by hundreds or even thousands of dollars.

HousingWire, Oct. 19, 2016--Swanson, Brena Nearly four months after the Consumer Financial Protection Bureau finished the final mortgage servicing rule, it has finally been published in the Federal Register.

Mortgage Orb, Oct. 19, 2016--Barnard, Patrick A new report from TD Bank shows that the threat of a HELOC default tsunami is very real.

National Mortgage News, Oct. 23, 2016--Collins, Brian As Rodrigo Lopez begins his term as chairman of the Mortgage Bankers Association, the Nebraska multifamily lender seeks to use the platform to embrace the challenges of improving diversity and technology throughout the industry, while remaining vigilant about the ever-changing regulatory landscape.

National Mortgage News, Oct. 21, 2016--Collins, Brian The Mortgage Bankers Association and others are concerned that the CFPB wants to take a harder line and move away from its "diagnostic examination" approach, which recognizes the complexity of the rule changes. 

USA Today, Oct. 21, 2016--McCoy, Kevin  The Justice Department plans to sue Moody's over valuations the company assigned to mortgage-backed securities in the run-up to the nation's financial crisis in 2008, the financial ratings giant said Friday.

Reuters, Oct. 21, 2016--Lash, Herbert; Wiltermuth, Joy  The shift to online shopping that has crushed U.S. department stores in recent years now threatens the investors who a decade ago funded the vast expanse of brick-and-mortar emporiums that many Americans no longer visit.

Wall Street Journal, Oct. 21, 2016--Vieira, Paul Changes could see banks shoulder up to 10 percent of the losses related to house-loan defaults.

Scotsman Guide, Oct. 20, 2016--Whitman, Victor The Mortgage Bankers Association and other industry trade groups asked the Consumer Financial Protection Bureau to go further in its cleanup of TRID.

Bloomberg, Oct. 24, 2016--Light, Joe Lenders will get a reprieve from the threat of some mortgage-related penalties under a new program announced by housing-finance giant Fannie Mae on Monday.

HousingWire, Oct. 24, 2016--Lane, Ben Enhancements to Loan Advisor Suite could help lenders' bottom line.