The Lede

CoreLogic, Irvine, Calif., reported 4.6 percent of U.S. mortgages in some stage of delinquency in July, down by nearly 1 percent from a year ago.

The Mortgage Bankers Association, in a separate letter and with a coalition of industry trade groups, urged members of the House Financial Services Committee to support legislation that would clarify and amend the High Volatility Commercial Real Estate bank capital rule.

Two reports this week said foreclosure and delinquency rates on mortgages fell to levels not seen since before the Great Recession.

Strong new issuance volume led to a decline in the U.S. commercial mortgage-backed securities delinquency rate last month, reported Fitch Ratings, New York.

The Mortgage Bankers Association, in a letter this week to the Consumer Financial Protection Bureau, offered recommendations on how the Bureau could improve the TILA-RESPA Integrated Disclosure rule, known as TRID or "Know Before You Owe."

CoreLogic, Irvine, Calif., reported 4.6 percent of U.S. mortgages in some stage of delinquency in July, down by nearly 1 percent from a year ago.

The Mortgage Bankers Association, in a separate letter and with a coalition of industry trade groups, urged members of the House Financial Services Committee to support legislation that would clarify and amend the High Volatility Commercial Real Estate bank capital rule.

CoreLogic, Irvine, Calif., reported 4.6 percent of U.S. mortgages in some stage of delinquency in July, down by nearly 1 percent from a year ago.

The Mortgage Bankers Association, in a separate letter and with a coalition of industry trade groups, urged members of the House Financial Services Committee to support legislation that would clarify and amend the High Volatility Commercial Real Estate bank capital rule.

MBA Education and Compliance Essentials presents a new webinar, Understanding Successor in Interest Requirements, on Monday, Nov. 6 from 2:00-3:30 p.m. ET.

HousingWire, Oct. 13, 2017--Ben LaneEarlier this week, the attorneys general for 38 states sent letters to Experian and TransUnion, calling on the credit reporting agencies to stop charging consumers to freeze their credit. Each state has different rules around credit freezes, but in some states, it costs $10 to place a credit freeze on their account and another $10 if they want to lift the freeze.

Mortgage Daily, Oct. 16, 2017The Office of the State Bank Commissioner of Kansas on Friday seized control of The Farmers and Merchants State Bank of Argonia and shut it down.

Mortgage Orb, Oct. 16, 2017--Patrick BarnardWith legacy foreclosures dwindling and delinquencies now near pre-crisis lows, it would make sense if foreclosure timelines were shortening, but apparently that's not the case, according to the most recent quarterly foreclosure report from ATTOM Data Solutions.

CNBC, Oct. 16, 2017--Lori KonishFannie Mae, Freddie Mac and the Internal Revenue Service separately issued guidance on Friday for those affected by the blazes that began a week ago.

Scotsman Guide, Oct. 16, 2017--Victor WhitmanThe Trump administration appears committed to significantly unwinding many of the rules imposed on banks and Wall Street after the recession. Earlier this month, the U.S. Treasury published its second major report on Dodd-Frank, this time making a number of recommendations to loosen rules on Wall Street.

RESPA News, Oct. 16, 2017The Mortgage Bankers Association signaled its support for work being done on comprehensive tax reform, writing to key lawmakers that this was a "once in a generation opportunity" to overhaul the tax code.

Wall Street Journal, Oct. 16, 2017--Laura Kusisto (subscription)The tax-overhaul plan being negotiated in Washington has the potential to virtually eliminate a break lawmakers once considered untouchable: the mortgage interest deduction.

Wall Street Journal, Oct. 16, 2017--Laura Kusisto (subscription)The debate over diminishing the tax incentive for homeownership has created a rift between two powerful trade groups representing real-estate brokers and home builders.

Associated Press, Oct. 12, 2017Nevada's two U.S. senators want mortgage payment relief for family members of victims of the Las Vegas massacre as they deal with medical and funeral costs.

National Mortgage News, Oct. 12, 2017--Kate Berry (subscription)The bipartisan congressional response to the Equifax breach took another step forward Thursday when two key Republicans sharpened their focus on regulatory gaps in the oversight of credit bureaus.

Scotsman Guide, Oct. 12, 2017--Victor WhitmanThe House Financial Services Committee moved forward two bills on Thursday aimed at providing clarity and regulatory relief for real estate lenders. H.R. 2148, which was supported by major trade associations like the Mortgage Bankers Association, did not alter the capital standards.

National Mortgage News, Oct. 12, 2017--Brian Collins (subscription)The Federal Housing Administration forward mortgage program is "doing extremely well," and recent changes to its reverse mortgage program "will stop the bleeding" in losses to the agency, Housing and Urban Development Secretary Ben Carson said Thursday.

HousingWire, Oct. 12, 2017--Ben LaneThe government's proclivity to use the False Claims Act as a weapon against mortgage lenders could soon be coming to an end, Department of Housing and Urban Development Secretary Ben Carson told members of Congress on Thursday. Mortgage Bankers Association President and CEO David Stevens has said the government's "misuse" of the False Claims Act is driving lenders away from FHA lending.

National Mortgage News, Oct. 10, 2017--Kate Berry (subscription)Fannie Mae and Freddie Mac were not impacted by a hacking incident in September against the accounting giant Deloitte, the companies said Tuesday, after a British newspaper alleged a server containing emails from government agencies was compromised.

Reuters, Oct. 13, 2017--Dan Freed, Sweta SinghWells Fargo & Co management signaled on Friday that the bank may struggle to hit expense targets through next year, raising questions about how much a sales scandal is weighing on the bottom line.

American Banker, Oct. 10, 2017--Kate Berry (subscription)While Republicans have argued that the Consumer Financial Protection Bureau's oversight is too broad and needs to be dialed back, Director Richard Cordray is using the Equifax data breach to float the idea of expanded agency authority over the credit reporting bureaus.

Reuters, Oct. 10, 2017--Makini BriceThe bill would provide economic incentives for companies, Trump said in an interview published on Tuesday, and reward firms that maintain jobs in the United States, and deliver punitive measures against those that move operations offshore.

Mortgage Daily, Oct. 10, 2017--Sam GarciaAmong the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.

Scotsman Guide, Oct. 11, 2017--Linsdey JohnsonThe author, with U.S. Mortgage Insurers, says private mortgage insurance must be part of any comprehensive GSE reform effort. (MBA mention)

Bloomberg, Oct. 11, 2017--Rachel Evans, Claire BostonData analysis firm System2 identified an additional 197 J.C. Penney stores at risk of closing after the embattled retailer announced plans to shutter as many as 140 shops. System2 LLC said the outlets--from San Bernardino, Calif. to an Omaha, Neb. suburb--have a 64-plus percent likelihood of closing.

Associated Press, Oct. 11, 2017Under President Trump's tax proposal, some Americans would likely be steered away from this tax break. The plan would also eliminate many existing itemized deductions, so that some people who now itemize might end up paying more.

Mortgage Daily, Oct. 11, 2017Fannie Mae announced the offering Wednesday. The loans will be sold from its investment portfolio, which was reported at $244 billion as of Aug. 31.

Philadelphia Inquirer, Oct. 11, 2017--Joseph N. DiStefanoWilmington Trust Corp. agreed Tuesday to pay $60 million and help federal prosecutors with their criminal case against four of its former top executives. As a result, the bank avoids a federal trial on charges it illegally concealed hundreds of millions of dollars in bad loans to developers from its own investors, bank examiners and the federal TARP bailout program during the last decade's mortgage-finance crisis.

Bloomberg, Oct. 11, 2017--Shahein NasiripourNearly half of black Americans who borrowed from the federal government to attend college defaulted on their student loans-more than double the rate among white student debtors, according to new data from the Department of Education.

Politico, Oct. 13, 2017--Lorraine WoellertThe Mortgage Bankers Association said it is open to a rewrite of homeowner tax breaks as part of a broader reform package, adding to the political momentum in support of a mortgage tax credit.

Washington Examiner, Oct. 13, 2017--Joseph LawlerThe Mortgage Bankers Association have given a thumbs-up to the Republican tax reform framework, another indication that the GOP tax push so far is avoiding outright opposition from the important housing sector.

Mortgage News Daily, Oct. 13, 2017--Jann SwansonSignificant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be within the pre-crisis (2001-03) standard of 12.5 percent for the whole mortgage market.

National Mortgage News, Oct. 13, 2017 (subscription)Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.

Bloomberg, Oct. 12, 2017--Prashant GopalDuring hurricanes Harvey and Irma, wind and water damaged almost 1.8 million homes, causing uninsured flood losses of as much as $57 billion, according to CoreLogic Inc., a real estate data firm. Homeowners without federal flood insurance are most likely to be desperate. Those with policies don't yet know how much they'll get for their losses, which is key to deciding whether it makes sense to sell.

Mortgage Daily, Oct. 12, 2017Investors hungry for servicing have an opportunity to buy mortgage servicing rights on nearly $200 million in government-sponsored enterprise loans with a Golden State concentration.

HousingWire, Oct. 12, 2017--Ben LaneOcwen disclosed its plans in a filing with the Securities and Exchange Commission that was mostly focused on Ocwen settling with two more states to remove some of restrictions that were placed on their mortgage business as part of a multi-state regulatory action against the nonbank earlier this year.