The Lede

Black Knight Financial Services, Jacksonville, Fla., said homeowners' tappable equity hit $.4.7 trillion in 2016, the highest level since 2006.

The commercial mortgage-backed securities delinquency rate rose for the third consecutive month in February, edging up three basis points to 3.04 percent, reported Morningstar Credit Ratings, Chicago.

The Mortgage Bankers Association and nearly a dozen other industry trade groups sent a letter yesterday in support of proposed House legislation that would clarify High Volatility Commercial Real Estate provisions under the Basel III rule.

Reuters, Mar. 31, 2017--Jonathan SpicerThe Federal Reserve could begin shrinking its $4.5-trillion balance sheet as soon as this year, earlier than most economists expect, New York Fed President William Dudley said on Friday in the central bank's most definitive comments on the question that looms over financial markets.

Mortgage Daily, Apr. 3, 2017--Sam GarciaResidential lenders have a host of recently launched or enhanced services that will help them maintain compliance with mortgage rules, banking regulations and agency requirements.

Mortgage Daily, Apr. 3, 2017A drop in securitizations at Freddie Mac pulled agency issuance down on a month-over-month and year-over-year basis.

National Mortgage Professional, Apr. 3, 2017--Phil HallAn annual home price appreciation of 5.5 percent during 2016 helped to increase the number of mortgage holders with tappable equity to 39.5 million, according to new data from Black Knight Financial Services.

Wall Street Journal, Apr. 3, 2017--Josh Mitchell (subscription)Americans continue to default on student loans at a "stubbornly high" rate, and a small share of borrowers are unable to buy homes due to high levels of student debt, according to a new report from the Federal Reserve Bank of New York.

National Mortgage News, Apr. 3, 2017--Bonnie Sinnock (subscription)Freddie Mac has quietly been testing out automated purchases of conforming loans with equity sharing stakes of typically 10%. The equity stake is provided to consumers by a private company that was previously knowns as FirstREX, but rebranded itself last year as Unison.

Mortgage Daily, Apr. 3, 2017While reform of the government-sponsored enterprises is expected by many, changes to the Federal Housing Administration are expected more quickly.

Mortgage Daily, Mar. 29, 2017In its Monthly Complaint Report, the Consumer Financial Protection Bureau reported 26,262 financial services complaints filed in February. Mortgage complaints fell to 3,715 in February from 4,195 in January.

HousingWire, Mar. 30, 2017--Ben LaneIn a bulletin sent to servicers this week, Fannie Mae said that it "no longer accepts plywood boards as an acceptable boarding solution on windows of its properties."

National Mortgage News, Mar. 30, 2017--Brian Collins (subscription)Private market mortgage insurance companies should better align their buyback and rescission policies with those of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency said this week.

National Mortgage News, Mar. 30, 2017--Ian McKendry (subscription)With slim odds of getting eight Democrats to support major Dodd-Frank Act reforms, Republicans will have to use other measures to make changes to the 2010 reform law, Sen. Pat Toomey, R-Pa., said Thursday.

Scotsman Guide, Mar. 30, 2017--Victor Whitman"The future of Fannie and Freddie should be determined by Congress," said MBA President and CEO David Stevens. "That is the only way to reach a solution that does what's best for Americans' housing needs and taxpayers."

Bloomberg, Mar. 29, 2017--Joe LightA bipartisan group of senators told Mel Watt, the regulator who oversees Fannie Mae and Freddie Mac, that he shouldn't allow the companies to recapitalize without congressional approval.

HousingWire, Mar. 31, 2017--Ben LaneMorgan Stanley handed out nearly $200 million in consumer relief over the past few months, pushing the company past the 75% mark in its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year.

National Mortgage News, Mar. 31, 2017--Kate Berry (subscription)Richard Cordray, director of the Consumer Financial Protection Bureau, defended the agency from industry allegations that the CFPB engages in "regulation by enforcement" in a speech to the U.S. Chamber of Commerce.

HousingWire, Mar. 31, 2017--Brena SwansonCongressional Democrats filed an amicus brief on Friday with the D.C. Circuit Court of Appeals in support of the Consumer Financial Protection Bureau.

National Mortgage News, Mar. 31, 2017--Kate Berry (subscription)The Consumer Financial Protection Bureau racked up an impressive track record related to enforcement actions between its formation in 2011 and 2015, winning 122 cases without losing a single one. But that unblemished record has come to an abrupt end. More companies and individuals are challenging the CFPB's authority, inspired in part by a successful suit by the nonbank mortgage lender PHH Corp. as well as a feeling that the agency has overplayed its hand.

National Mortgage Professional, Mar. 31, 2017--Phil HallSen. Mike Crapo, R-Idaho, chairman of the Senate Banking Committee, announced that he is seeking new bank reform legislation that can be forged with bipartisan support, rather than jettison the Dodd-Frank Act.

Atlanta Journal-Constitution, Mar. 30, 2017--Scott SheldonA 50-year mortgage may be an option, but there are also considerable drawbacks.

Mortgage Daily, Mar. 29, 2017The Troubled Asset Relief Program, created to bail out the nation's banks during the financial crisis has earned nearly $22 billion for U.S. taxpayers.

Sacramento Bee, Mar. 29, 2017--Richard ChangBank of America Corp. was told to pay a $46 million judgment last week after it wrongfully foreclosed on a Lincoln, Calif. couple during the recession.

Business Insider, Mar. 27, 2017--Akin OyedeleThe commercial real estate market is showing cracks and will peak this year, Morgan Stanley analysts forecast.

HousingWire, Mar. 29, 2017--Brena SwansonBetween the Consumer Financial Protection Bureau's court case with PHH and a handful of bills circulating trying to overhaul it, the one thing that is for sure is that something will have to change, even if it's simply CFPB Director Richard Cordray fulfilling his term and walking away in July 2018.

Politico, Mar. 29, 2017--Lorraine Woellert; Zachary Warmbrodt (subscription)Fannie Mae and Freddie Mac will make a $10 billion payment to Treasury this week as planned amid mounting political pressure over the transfer. MBA President and CEO David Stevens said given post-election momentum for Fannie and Freddie reform, "now would be exactly the wrong time for the regulator to independently recapitalize the GSEs."