The Lede

The commercial mortgage-backed securities delinquency rate dropped significantly in July after climbing in June and issuance volume remained healthy, reported Trepp and Kroll Bond Rating Agency, New York.

The Great Recession caused a dramatic increase in the homeownership gap between high-income and low-income households, but housing and economic growth during the recovery years helped to narrow this gap, said Trulia, Seattle.

Economic ‘tailwinds' are contributing to healthy mortgage performance, reported CoreLogic, Irvine, Calif., as the delinquency rate fell to its lowest point in nearly a decade.

Black Knight Financial Services, Jacksonville, Fla., said more than 1.5 million borrowers have purchased homes with 10 percent down payments over the past 12 months, the highest such volume in seven years.

Mortgage Daily, Aug. 14, 2017A firm that has claim to be among the biggest home-purchase lender for veteran programs has agreed to pay over $1 million to settle alleged violations of the Real Estate Settlement and Procedures Act.

Housingwire, Aug. 11, 2017--Brena SwansonAs the list of people commenting on how to execute GSE reform continues to grow, Mortgage Bankers Association President and CEO David Stevens, CMB, highlighted one of MBA's main points and defended the need for multiple guarantors in the new system.

Wall Street Journal, Aug. 14, 2017--Sam Goldfarb (subscription)Investors are snapping up a new type of security sold by Fannie Mae and Freddie Mac, increasingly assuming the risk of mortgage defaults from taxpayers.

Washington Post, Aug. 10, 2017--Kenneth HarneyThere will be no modernization of the mortgage giants' controversial scoring systems before mid-2019 at the earliest, according to Fannie Mae and Freddie Mac's top government regulator.

CNBC, Aug. 9, 2017--Diana OlickA drop in interest rates drove homeowners and homebuyers to the mortgage market last week. "Mortgage rates decreased last week, which led to the highest volume of refinance applications since mid-June," said Mortgage Bankers Association Chief Economist Mike Fratantoni.

Mortgage Daily, Aug. 9, 2017As the parent of PHH Mortgage continues to execute on its strategy to shrink its mortgage business, losses grew from a year earlier as originations and servicing were slashed.

Mortgage Daily, Aug. 9, 2017--Sam GarciaWhile some mortgage acquisitions have recently closed, one fell through just hours before it was supposed to be consummated. One company that was set to close down is back in business.

Wall Street Journal, Aug. 9, 2017--Colin Barr (subscription)Ten years ago oday, the first glimpses of the global financial crisis came into view.

National Mortgage News, Aug. 8, 2017--Brad Finkelstein (subscription)PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on mortgages insured by the Federal Housing Administration and Department of Veterans Affairs, as well as loans sold to Fannie Mae and Freddie Mac.

Mortgage Daily, Aug. 7, 2017Compared to a year earlier, employment in the mortgage industry has expanded. But as quarter-over-quarter headcount was down, some signs point to an increase in layoffs for the sector.

Mortgage Daily, Aug. 7, 2017Weekly mortgage business maintained the pace of the previous seven-day period. Increased refinance activity was offset by lower demand for loans to finance a residential property purchase.