The Lede

This week's chart examines the operating liquidity of a sample of Independent Mortgage Bank Servicers.

This week's chart examines the operating liquidity of a sample of Independent Mortgage Bank Servicers.

This week's chart examines the operating liquidity of a sample of Independent Mortgage Bank Servicers.

The House Financial Services Committee yesterday unanimously approved a Mortgage Bankers Association-supported bill that would smooth the path for mortgage loan originators in transition, as well as a bill aimed at jump-starting the GSE reform process.

CoreLogic, Irvine, Calif., reported 5 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in September, an 0.2 percentage point year-over-year decline to the lowest level in more than 10 years.

The Mortgage Bankers Association released a new MBANow video featuring MBA Vice President of Industry Analysis, who discusses the latest MBA quarterly Performance Report and previews the upcoming MBA Mergers & Acquisition Workshop.

The Mortgage Bankers Association released a new MBANow video featuring MBA Vice President of Industry Analysis, who discusses the latest MBA quarterly Performance Report and previews the upcoming MBA Mergers & Acquisition Workshop.

The Mortgage Bankers Association released a new MBANow video featuring MBA Vice President of Industry Analysis, who discusses the latest MBA quarterly Performance Report and previews the upcoming MBA Mergers & Acquisition Workshop.

MBA Education presents The CFPB's Mortgage Servicing Rules Deep Dive Workshop, Feb. 6-7 at the Gaylord Texan in Dallas in conjunction with the MBA National Servicing in Mortgage Banking Conference & Expo.

Bloomberg, Dec. 18, 2017--Lauren Coleman-Lochner, Matthew TownsendToys "R" Us Inc., which filed for bankruptcy in September, is considering closing at least 100 U.S. stores in the face of weak holiday sales.

Inman, Dec. 19, 2017--Bryan WalshAnalysts worry that if insurers start to pull out of flood-prone seaside communities, it could cause a crisis worse than 2008.

National Mortgage News, Dec. 18, 2017--Ian McKendry (subscription)Congress is close to the finish line in passing a major tax overhaul, and bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill also still includes some caveats that might give certain institutions pause.

This is the final issue of MBA Servicing NewsLink for 2017. We will not publish next Tuesday, Dec. 26. MBA offices will be closed from Friday, Dec. 22 through Tuesday, Jan. 2. On behalf of MBA officers and staff, thank you for your MBA membership and have a safe and happy holiday season.

National Mortgage News, Dec. 18, 2017--Bonnie Sinnock (subscription)Fannie Mae and Freddie Mac's final Duty to Serve plans move ahead with expanded support for manufactured housing through both single-family and multifamily programs, including controversial personal property loans.

National Mortgage News, Dec. 15, 2017--Elina Tarkazikis (subscription)The Home Affordable Refinance Program recorded a 45% drop in volume in October from the previous year as it continunes to wind down, according to the Federal Housing Finance Agency.

Wall Street Journal, Dec. 17, 2017--Laura Kusisto (subscription)There are no federal laws requiring home sellers to disclose if their properties previously have been flooded.

New York Times, Dec. 16, 2017--Conor DoughertyThe bill will increase many homeowners' monthly housing costs by scaling back deductions that allow them to reduce mortgage interest and property taxes. And by roughly doubling the standard deduction, it reduces the incentive to buy homes by making far fewer homeowners eligible for preferential tax treatment.

Curbed (Vox Media), Dec. 15, 2017--Jeff AndrewsHome mortgages that are in some stage of delinquency dropped from 5.2 percent a year ago to 5 percent in September, according to a new report from CoreLogic, an information intelligence company that serves the real estate and mortgage finance sectors.

Wall Street Journal, Dec. 13, 2017--Josh Mitchell (subscription)The number of Americans severely behind on payments on federal student loans reached roughly 4.6 million in the third quarter, a doubling from four years ago, despite a historically long stretch of U.S. job creation and steady economic growth.

Wall Street Journal, Dec. 14, 2017--Emily Glazer (subscription)Wells Fargo & Co. laid off about 60 employees in its mortgage division as the bank continues to reshuffle parts of its business following heightened regulatory scrutiny.

Mortgage Professional America, Dec. 13, 2017--Steve Randall The third quarter saw a resurgence of commercial/multifamily mortgage debt outstanding with a $45.4 billion increase to $3.11 trillion, the Mortgage Bankers Association reported.

Scotsman Guide, Dec. 13, 2017--Victor WhitmanHouse Financial Services Committee Chairman Jeb Hensarling recently signaled that he is willing compromise on housing-finance reform, but MBA President and CEO David Stevens says the plan Hensarling now endorses could create issues for smaller lenders.

HousingWire, Dec. 12, 2017--David StevensMBA President and CEO outlines the Association's strategy for comprehensive secondary mortgage market reform.

Wall Street Journal, Dec. 12, 2017--Nicole Friedman (subscription)Insurers and reinsurers are already on track for one of the largest ever industrywide losses from natural catastrophes.

Associated Press, Dec. 12, 2017Congressional aides say negotiators have agreed to scale back the mortgage interest deduction, which would allow homeowners to deduct interest on the first $750,000 of a new mortgage.

Scotsman Guide, Dec. 12, 2017--Victor WhitmanCommercial mortgage debt rose across all major investor classes to $3.11 trillion in the third quarter, the Mortgage Bankers Association reported.