The Lede

Ten years into what proved to be the worst housing crisis in U.S. history, CoreLogic, Irvine, Calif., says the housing market it beginning to "normalize."

ATTOM Data Solutions, Irvine, Calif., reported foreclosure activity in February fell to its lowest level since November 2005.

The Trump Administration unveiled its preliminary fiscal 2018 budget, which proposes the largest cuts to HUD funding since the Reagan Administration.

The Mortgage Bankers Association and a dozen other industry trade groups weighed in on a heavily watched lawsuit against the Consumer Financial Protection Bureau, supporting PHH Corp.'s assertion that the Bureau misinterpreted the Real Estate Settlement Procedures Act in enforcing penalties against PHH.

Permanent loan modifications started the year with a slight uptick, while foreclosure starts also increased, reported HOPE NOW, Washington, D.C.

National Mortgage News, Mar. 16, 2017--Brian Collins (subscription)President Trump's budget released Thursday calls for slashing HUD funding by 13%, or $6.2 billion, compared with 2016 levels, a blow to many bankers who say affordable housing programs and other HUD initiatives are vital to their work.

The Hill, Mar. 20, 2017--Bert ElyThe author, principal of Ely & Co. Inc., says restructuring delinquent mortgages is not without its risks, though, as Goldman undoubtedly appreciates, for not all home mortgages can be successfully restructured.

Mortgage Daily, Mar. 20, 2017Moody's Investors Service said reforming the government-sponsored enterprises could have wide-reaching implications for a range of sectors and entities.

CNBC, Mar. 20, 2017--Diana Olick Remember the sliced and diced mortgage-backed bonds that brought down the U.S. economy? They're back, but their makers say they are nothing like the former bonds--not even close.

National Real Estate Investor, Mar. 20, 2017Price increases for U.S. commercial real estate assets have started to moderate in recent months, perhaps as a result of the expectation of rising interest rates.

HousingWire, Mar. 17, 2017--Brena SwansonIn light of President Donald Trump's budget proposal, House Financial Services Committee Majority Whip French Hill, R-Ark., said the Dodd-Frank Act merits a strong review.

National Mortgage News, Mar. 17, 2017--Kate Berry (subscription)The Justice Department told a federal appeals court on Friday that President Trump should have the authority to fire the head of the Consumer Financial Protection Bureau, but stopped short of asking for the bureau to be abolished.

HousingWire, Mar. 17, 2017--Brena SwansonIt looks like the most recent executive order from President Donald Trump to reorganize the executive branch may apply to the Consumer Financial Protection Bureau.

National Mortgage News, Mar. 17, 2017--Brian Collins (subscription)The Trump administration's decision to slash all funding for the flood mapping and loss mitigation efforts in flood-prone communities is getting pushback from supporters of better flood management policies.

Bloomberg, Mar. 16, 2017--Polly MosendzAfter languishing on the real estate market for months, a multimillion-dollar, seven-story, basket-shaped building will soon be the property of Licking County, Ohio. A foreclosure is imminent, according to local officials.

Buffalo News, Mar. 16, 2017--Matt GlynnSen. Charles Schumer, D-N.Y., is pushing back against what he sees as threats to deductions for mortgage interest and local and state property taxes.

HousingWire, Mar. 16, 2017--Kelsey RamirezWithin the housing market, one of the independent agencies that will be completely defunded is Neighborhood Reinvestment Corp., also known as NeighborWorks America.

World Property Journal, Mar. 14, 2017--Michael GerrityAccording to the Mortgage Bankers Association's most recent Commercial/Multifamily Delinquency Report, delinquency rates for commercial and multifamily mortgage loans remained low in the fourth quarter.

CBS Austin (Texas), Mar. 15, 2017--Adela UchidaFour bills filed in the state legislature aim to stop so-called 'wrap mortgages' by tightening the legal loopholes around them.

HousingWire, Mar. 15, 2017--Brena SwansonDemocrats are racing against the clock to defend the embattled Consumer Financial Protection Bureau, which has a growing pile of government and judicial scenarios at play trying to overhaul it or abolish it altogether.

Wall Street Journal, Mar. 16, 2017--Liz Hoffman; Serena Ng (subscription)Goldman Sachs Group Inc. has become the largest buyer of severely delinquent home loans from mortgage giant Fannie Mae over the past year and a half, acquiring nearly two-thirds of $9.6 billion in loans the agency has auctioned, government records show.

National Mortgage News, Mar. 15, 2017--Kate Berry (subscription)Nationstar Mortgage agreed on Wednesday to pay $1.75 million to the Consumer Financial Protection Bureau for failing to accurately report home mortgage data that is used to identify discrimination.

New York Post, Mar. 15, 2017Wells Fargo, Royal Bank of Scotland and Deutsche Bank have reached a $165 million class-action settlement of investor claims over their underwriting for the now-bankrupt subprime lender NovaStar Mortgage.

National Mortgage News, Mar. 14, 2017--Bonnie Sinnock (subscription)The mortgage workforce is transforming. Dramatic shifts in consumer demand for home loans and expectations about the borrowing experience are requiring lenders to take a hard look at how they staff their operations.

HousingWire, Mar. 14, 2017--Ben LaneFannie Mae announced Tuesday that it sold a large portfolio of non-performing loans to private equity funds, one of which is a subsidiary of Goldman Sachs. The sale, which was originally announced last month, consisted of 9,400 non-performing loans that carry an unpaid principal balance of $1.68 billion.

CNN, Mar. 14, 2017--William PooleThe Federal Reserve bailed out Bear Stearns on March 14, nine years ago. What has the Fed learned from that mistake? Not enough, perhaps.

Wall Street Journal, Mar. 14, 2017--Andrew Ackerman (subscription)President Donald Trump on Tuesday picked J. Christopher Giancarlo to head the Commodity Futures Trading Commission, elevating a critic of the commission's approach to postcrisis rules as its new chief.

National Mortgage News, Mar. 14, 2017--Brian Collins (subscription)Sen. Mike Rounds, R-S.D., suggested Tuesday that the National Flood Insurance Program should boost its insurance coverage to $427,000 from $250,000 in an effort to put it on sounder fiscal footing.