The Lede

Fitch Ratings, New York, said prime jumbo residential mortgage-backed securities activity showed strong signs of improvement in the first quarter, more than doubling volume from a year ago.

S&P Dow Jones Indices and Experian, New York, said despite composite credit default rates holding steady in March, the first mortgage default rate reached its highest rate in a year and bank card defaults rose for the fifth straight month.

The Mortgage Bankers Association released a new MBANow video on YouTube featuring MBA Chairman Rodrigo Lopez, CMB, who discusses release of a new MBA paper on secondary mortgage market reform.

HOPE NOW, Washington, D.C., said permanent loan modifications rose slightly in February as foreclosure starts and delinquencies fell.

The Mortgage Bankers Association's grassroots advocacy arm, the Mortgage Action Alliance, issued a Call to Action on Friday, urging its members to contact their representatives and senators to support efforts to reform the secondary mortgage market.

More than two dozen industry trade groups joined the Mortgage Bankers Association in letters yesterday to support legislation that would modify consumer protection requirements for Property Assessed Clean Energy loans, also known as PACE loans.

Homeowners with adjustable-rate mortgages significantly increased their spending both before and after anticipated mortgage payment decreases, despite a substantial drop in their home values, according to data from The JPMorgan Chase Institute, Washington, D.C.

The Mortgage Bankers Association released a new MBANow video on YouTube featuring MBA Chairman Rodrigo Lopez, CMB, who discusses release of a new MBA paper on secondary mortgage market reform.

The Mortgage Bankers Association released a new MBANow video on YouTube featuring MBA Chairman Rodrigo Lopez, CMB, who discusses release of a new MBA paper on secondary mortgage market reform.

Bloomberg, Apr. 20, 2017--David McLaughlin, Dan WilchinsA group of state mortgage regulators blocked Ocwen Financial Corp. from acquiring new business and said the company's financial condition is significantly deteriorating, the North Carolina bank regulator said Thursday.

DS News, Apr. 24, 2017--Seth WelbornMortgage fraud risk is up across the country, according to the CoreLogic National Mortgage Application Fraud Risk Index for the first quarter.

OurBroker.com, Apr. 24, 2017--Peter G. MillerReverse mortgages are in trouble. It's fair to say that reverse mortgages could well be gone under the Trump Administration.

National Mortgage News, Apr. 24, 2017--Kate Berry (subscription)President Trump and Consumer Financial Protection Bureau Director Richard Cordray appear locked in a game of chicken over his continued leadership of the agency.

HousingWire, Apr. 24, 2017--Kelsey RamirezUnder the bill, the GSEs would be directed to accept and process FOIA requests from the public and release information to satisfy those request for as long as they remain under federal conservatorship. However, this bill would only apply to the mortgage giants while they are under federal conservatorship, and the administration could be already looking at plans for GSE reform. The Mortgage Bankers Association recently released its roadmap to GSE reform that breaks down what it sees as the best option for reform.

Mortgage Daily, Apr. 21, 2017A new offering has hit the market for mortgage servicing rights on more than $2 billion in Ginnie Mae loans.

HousingWire, Apr. 21, 2017--Ben LaneOcwen released a lengthy statement Thursday stating that it intends to fight the Consumer Financial Protection Bureau's lawsuit, claiming that the bureau's charges are "inaccurate" and "unfounded." And early Friday morning, Ocwen released another lengthy statement, but this one is in response the state banking regulators allegations.

New York Times, Apr. 22, 2017--James B. StewartPresident Trump has promised a sweeping tax plan, arriving in the days ahead, that will be "bigger, I believe, than any tax cut ever." It will aim to bring down individual and corporate rates, simplify the overall tax code and unleash economic growth. But there is a major roadblock to that fundamental change, and it comes from a sector well known to the president: the real estate industry.

CNBC, Apr 21, 2017--John W. SchoenMBA President and CEO David Stevens said in event of shutdown, work on FHA mortgage paperwork would stop. "There's no 'wink-wink, keep your laptops and we'll call you," he said.

HousingWire, Apr. 21, 2017--Kelsey RamirezThe National Association of Hispanic Real Estate Professionals issued a statement of support for the Mortgage Bankers Association's proposal for GSE reform.

Mortgage Daily, Apr. 20, 2017A quarter-over-quarter decline was recorded for mortgage originations and assets at Huntington Bancshares Inc. But the firm boosted the size of its servicing portfolio.

National Mortgage News, Apr. 20, 2017--Brad Finkelstein (subscription)MGIC Investment Corp. had net income of $89.8 million for the first quarter, an increase of nearly 30% over the same period last year of $69.2 million.

Mortgage Daily, Apr. 19, 2017Mortgage Industry Advisory Corp, announced the offering on Wednesday. The seller is a large non-bank originator.

Reuters, Apr. 20, 2017--Jason Lange, Lindsay DunsmuirThe Trump administration will unveil a tax reform plan very soon, U.S. Treasury Secretary Steven Mnuchin said on Thursday.

National Mortgage News, Apr. 20, 2017--Brian Collins (subscription)"It provides a clear road map that first prepares the regulatory foundation that will create the infrastructure necessary to implement GSE reform and then transforms the GSEs to guarantors under new charters," said Rodrigo Lopez, the group's chairman.

HousingWire, Apr. 20, 2017--Brena SwansonNearly eight years of conservatorship has turned talks of reforming Fannie Mae and Freddie Mac into a myth that the industry might discuss but doesn't believe will actually happen. MBA could have the solution. A big portion of the MBA's white paper, "GSE Reform: Creating a Sustainable, More Vibrant Secondary Mortgage Market," addresses what the GSE reform process will look like.

Bloomberg, Apr. 20, 2017--Joe LightThe Mortgage Bankers Association proposal released Thursday calls for the U.S. government to remain involved in the housing market, putting its guarantee behind mortgage-backed securities that the firms issue but no longer backstopping the companies themselves.

HousingWire, Apr. 20, 2017--David Stevens, CMBMBA President and CEO outlines details of association's proposal for future of Fannie Mae, Freddie Mac, secondary mortgage market.

National Mortgage News, Apr. 18, 2017--Brian Collins (subscription)Lawmakers from both political parties are showing an interest in improving disclosures for loans used to upgrade home heating and cooling systems, including the installation of solar panels, an idea that has some in the industry increasingly nervous.

Los Angeles Times, Apr. 18, 2017--Jim PuzzangheraThe Trump Administration is unlikely to meet its self-declared August deadline for enacting tax reform, Treasury Secretary Steven Mnuchin said, which will make it more difficult for companies to factor any changes into their spending decisions.

Bloomberg, Apr. 19, 2017--Matt Scully, David M. LevittFormerly the U.S. trading hub for UBS Group AG, the sprawling office complex is dealing debt investors a $100 million loss years after the Swiss bank cut back its operations in the New York suburbs. AVG Partners, the private equity firm that now owns the property, has bought the defaulted mortgage in hopes of buying time to lease out the complex and, eventually, sell it.

National Mortgage News, Apr. 19, 2017--Ian McKendry (subscription)The House Financial Services Committee will hold a hearing on a GOP Dodd-Frank overhaul plan next Wednesday as Chairman Rep. Jeb Hensarling, R-Texas, hopes to have a panel vote on the bill by the end of the month.

MarketWatch, Apr. 19, 2017--Andrea RiquierAs the Consumer Financial Protection Bureau, an agency established in the aftermath of the financial crisis to protect ordinary Americans from bad behavior by companies, comes under fire from the Trump administration and Congressional Republicans, a new analysis shows a steady drumbeat of consumer complaints about mortgage products--especially those that touch the most vulnerable Americans.

National Mortgage News, Apr. 19,2017--Brad Finkelstein (subscription)Impac Mortgage Holdings sold $56 million of its common stock as part of a plan to securitize non-qualified mortgage loans.