The Lede

S&P Dow Jones Indices and Experian, New York, said its Consumer Credit Default Indices fell to the lowest level in 2017, despite an increase in bank card default rates for the sixth straight month.

The Federal Housing Finance Agency reported Fannie Mae and Freddie Mac completed 510,000 refinances were completed in the first quarter, a sharp drop from 750,767 in the fourth quarter.

Metrostudy, Washington, D.C. said U.S. remodeling activity increased for the 20th consecutive quarter to a record high on its Residential Remodeling Index.

While most commercial and multifamily mortgage delinquency rates have been hovering at or near all-time lows, the same cannot be said for commercial mortgage backed securities.

While most commercial and multifamily mortgage delinquency rates have been hovering at or near all-time lows, the same cannot be said for commercial mortgage backed securities.

While most commercial and multifamily mortgage delinquency rates have been hovering at or near all-time lows, the same cannot be said for commercial mortgage backed securities.

While many businesses increasingly use Application Programming Interfaces and other digital technologies to reduce errors and costs, speed up transactions and provide better customer service, the lending industry is (surprise) a tad behind the times.

For home sellers, low inventories and increasing home prices make this the best of times. But a report from Zillow and Thumbtack suggest hidden costs can present sellers with a different form of "sticker shock."

National Mortgage News, May 17, 2017--Kate Berry (subscription)State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company, according to interviews with nearly a dozen officials.

Mortgage Daily, May 22, 2017Bids are being taken for mortgage servicing rights on more than $2 billion in loans with a Golden State concentration that are backed or owned by the government-sponsored enterprises.

Mortgage Daily, May 22, 2017The Consumer Financial Protection Bureau's actions against Ocwen have been too severe, according to a draft working paper by Christopher Whalen of Whalen Global Advisors LLC.

National Mortgage News, May 22, 2017--Kate Berry (subscription)A federal appeals court is set to hear oral arguments Wednesday in a highly anticipated case that is the first significant challenge to the constitutionality of the Consumer Financial Protection Bureau.

Wall Street Journal, May 19, 2017--Harriet Torry (subscription)Most Americans are doing better financially than a few years ago, although the degree of improvement rises with a person's education level, according to a new Federal Reserve survey.

HousingWire, May 19, 2017--Ben LaneThe new report, released this week by the Board of Governors of the Federal Reserve System Office of the Inspector General for the Consumer Financial Protection Bureau (first reported by Law360), showed the Consumer Financial Protection Bureau's Office of Enforcement did not put proper protocols in place to secure confidential investigative information and confidential supervisory information.

HousingWire, May 19, 2017--Brena SwansonRep. Andy Barr, R-Ky., reintroduced the Taking Account of Bureaucrats' Spending Act on Friday in attempts to make the budget of the Consumer Financial Protection Bureau subject to congressional appropriations, instead of the Federal Reserve.

National Mortgage News, May 19, 2017--John Heltman (subscription)In the report on House Financial Services Committee Chairman Jeb Hensarling's Financial Choice Act, the CBO estimate that "most of the financial institutions that chose to maintain a 10% leverage ratio would be those with assets below $10 billion," primarily because those institutions already hold leverage ratios in excess of 10%.

Mortgage Daily, May 17, 2017Freddie Mac expanded the pool of loans that are eligible for its collateral representation and warranty relief.

National Mortgage News, May 17, 2017--Brad Finkelstein (subscription)Reverse mortgage lender Financial Freedom has agreed to pay $89 million to settle False Claims Act allegations involving unearned interest payments it received from the Federal Housing Administration.

Reuters, May 16, 2017--Richard LeongThe percentage of U.S. mortgages in the process of foreclosure at the end of the first quarter fell to its lowest level since the first quarter of 2007, the Mortgage Bankers Association said on Tuesday.

Bloomberg, May 17, 2017--Jonathan BernsteinFinancial regulation legislation, R.I.P.--probably, after Mitch McConnell basically surrendered Tuesday on a bill that would overhaul the Dodd-Frank Act.

Wall Street Journal, May 17, 2017--Ben Leubsdorf (subscription)Total debt held by American households reached a record high in early 2017, exceeding its 2008 peak after years of retrenchment in the face of financial crisis, recession and modest economic growth.

HousingWire, May 17, 2017--Kelsey RamirezMany Americans facing a financial crisis have a decision to make - which debts they will pay, and which they will skip. When faced with that decision, consumers tend to prioritize unsecured personal loans ahead of other debts such as credit cards, auto loans and even mortgages, according to a new study conducted by TransUnion.

Mortgage Professional America, May 17, 2017--Steve RandallThe rate of mortgage delinquencies slipped in the first three months of 2017 according to new data from the Mortgage Bankers Association.

GoRion, May 17, 2017--Sam BourgiFannie Mae and Freddie Mac should be privately owned utilities with returns to shareholders stipulated by regulators, according to proposals put forward by the Mortgage Bankers Association.

Wall Street Journal, May 16, 2017--Esther Fung (subscription)Department-store retailers announced worse-than-expected earnings for the first quarter, and there could be more store closures than expected ahead, including some in higher-tier malls, according to real-estate research firm Green Street Advisors.

HousingWire, May 16, 2017--Ben LaneThe Department of Justice announced Tuesday that Financial Freedom agreed to an $89 million settlement over reverse mortgage allegations, some of which allegedly took place while Treasury Secretary Steven Mnuchin was chairman at OneWest.

Bloomberg, May 16, 2017--Prashant Gopal, Joe LightPresident Donald Trump has proposed rewriting the tax code to raise the standard federal deduction to a level where about 25 million homeowners would no longer take advantage of the century-old mortgage interest tax deduction.

Mortgage Daily, May 16, 2017First and second mortgages that are considered to be seriously delinquent made up a smaller share of overall loans last month, reported S&P and Experian.

HousingWire, May 16, 2017--Brena SwansonBetween the Consumer Financial Protection Bureau slapping Prospect Mortgage with a $3.5 million fine for violating RESPA earlier this year and beefing up its ongoing investigation into Zillow for possibly violating RESPA, the Realtor/Lender space is being sent a warning, says Daniella Casseres of Offit Kurman.

HousingWire, May 16, 2017--Brena SwansonDocuSign confirmed on Tuesday that a malicious third party had gained temporary access to a separate, non-core system to steal possibly more than 100 million email addresses.

HousingWire, May 18, 2017--Ben LaneFederal Housing Finance Agency Director Mel Watt said that the heavy lifting on housing finance reform needs to come from Congress.

Mortgage Daily, May 18, 2017Wells Fargo & Co.'s home lending unit will no longer offer renovation mortgage products due to the complexity and risk of the loans.