The Lede

The House, by voice vote yesterday, passed H.R. 2148, the Clarifying Commercial Real Estate Loans Act, which had strong support from the Mortgage Bankers Association.

Even as the House Ways and Means Committee approved a House Republican-led measure to rewrite the nation's tax code, the Mortgage Bankers Association and a coalition of industry trade groups appealed to Senate leadership to ensure that a key provision--the ability for businesses to maintain full interest deductibility--remain intact in the Senate version.

For homeowners, rising home prices means more home equity. For prospective home buyers, it means finding ways to save more money just to make a down payment.

MBA and the Compliance Essentials program, in collaboration with leading legal experts, have created state-by-state reports to help servicers understand documents that are required to verify a successor in interest's status in each state.

Your MBA membership entitles you to discounts on services such as office supplies, car rental, shipping, employee benefit services and more though our affinity program, MBA Member Advantage.

Wall Street Journal, Nov. 13, 2017--Andrew Ackerman, Ryan Tracy (subscription)The bipartisan agreement released Monday, between Republicans led by Senate Banking Committee Chairman Mike Crapo of Idaho and a group of moderate Democrats, would exempt banks with up to $250 billion in assets from heightened oversight from the Federal Reserve, up from a current threshold of $50 billion.

Wall Street Journal, Nov. 12, 2017--Dana Mattioli (subscription)Brookfield Property Partners LP has made a $14.8 billion offer to acquire the shares of mall owner GGP Inc. that it doesn't already own.

UExpress, Nov. 10, 2017--Lew SichelmanMore than 1 million senior homeowners have now taken out reverse mortgages. There's a good chance you might, too, once you reach age 62. But the question of how to use the money from the loan is just as important as the question of whether or not to get the loan in the first place.

HousingWire, Nov. 10, 2017--Ben LaneNorthwest Trustee Services, the "largest foreclosure trustee in the Pacific Northwest," illegally foreclosed on dozens of military veterans and servicemembers over the last few years, the Department of Justice claims in a new lawsuit.

National Mortgage News, Nov. 10, 2017--Brian Collins (subscription)Trump administration officials have made clear their intent to reexamine how Federal Housing Administration lenders are cited under the False Claims Act, but whether that means lenders can rest any easier is still an open question.

Bloomberg, Nov. 12, 2017--Ben Brody, Mark NiquetteThe House of Representatives wouldn't accept a tax bill that, like the Senate's, eliminates deductions for all state and local taxes, the chairman of the House's tax-writing committee said.

Washington Post, Nov. 9, 2017--Damian Paletta, Mike DeBonisSenate Republicans are forging their own path on the effort to overhaul the U.S. tax code, preparing a plan that would delay President Trump's top business priority and blow up House Republicans' carefully crafted compromise on state and local tax deductions.

Mortgage Daily, Nov. 13, 2017Securitizations on behalf of Ginnie Mae turned lower last month, falling to the slowest volume in five months. The weak performance came off of a record year.

HousingWire, Nov. 13, 2017--Kelsey RamirezA huge coalition featuring thousands of organizations, state and local governments, and elected officials joined together to call on Congress to use the savings derived from any changes to the mortgage interest deduction via the new tax reform bill to fund low-income housing.

HousingWire, Nov. 7, 2017--Brena SwansonAs the future of tax reform remains a hot-button issue, the Mortgage Bankers Association continues to stress the importance of the mortgage interest tax deduction to Congress.

Scotsman Guide, Nov. 13, 2017--Victor WhitmanIn a letter to leaders of the Senate Committee on Finance, MBA President David Stevens praised that the plan preserves the interest deduction with the current $1 million cap on mortgage debt. MBA has issues, though, with its proposal to eliminate deductions on local property taxes, and also removes the interest deduction on home equity lines of credit.

Bloomberg, Nov. 8, 2017--Stephen MihmFrom its dubious beginnings a century ago, the mortgage interest deduction has shown a remarkable resilience, frustrating generations of idealistic reformers. If there's a mindless zombie in the tax code, this is it: a purposeless tax break that just refuses to die, no matter how many opponents try to bury it.

HousingWire, Nov. 8, 2017--Kelsey RamirezDuring the National Association of Realtors Conference, Beth Zorc, HUD acting general counsel and principal deputy general counsel, said HUD is "continuing to look at the issue and will have additional information to share later in November and will make its decision based on the health of FHA's Mutual Mortgage Insurance Fund."

HousingWire, Nov. 8, 2017--Brena SwansonAfter first revealing the news earlier this year, Zillow still hasn't come to an agreement with the Consumer Financial Protection Bureau over possible violations of the Real Estate Settlement Procedures Act.

National Mortgage News, Nov. 8, 2017--Kate Berry (subscription)The Consumer Financial Protection Bureau filed a lawsuit Wednesday against Freedom Debt Relief, the nation's largest debt-settlement services provider, and its co-CEO Andrew Housser for allegedly deceiving consumers.

National Mortgage News, Nov. 7, 2017--Brian Collins (subscription)The Federal Housing Administration's financial health is benefiting from continued reductions in delinquencies and foreclosures, but the FHA is also losing some of its best customers at a fast clip.

Dallas Morning News, Nov. 7, 2017--Melissa RepkoBanking and financial services company Capital One Financial Corp. announced Tuesday that it will lay off about 950 people in Plano, Texas, as it exits the mortgage and home equity business and closes a call center.