The Lede

Composite default rates rose for the third consecutive month in September, as the first mortgage default rate rose slightly, reported S&P Dow Jones Indices and Experian, New York.

The Federal Housing Finance Agency this week issued its 2016 Report to Congress on Guarantee Fees, noting "competitive pressures" between Fannie Mae and Freddie Mac resulted in an average two basis-point drop in average single-family guarantee fees in 2016, from 59 basis points to 57 basis points.

Black Knight, Jacksonville, Fla., said a surge in past-due mortgages in Florida and Texas drove a rise in mortgage delinquencies for the first time since 2010.

The Federal Housing Finance Agency on Friday said it would add a preferred language question to the redesigned Uniform Residential Loan Application, despite concerns by the Mortgage Bankers Association and the real estate finance industry.

DENVER--HUD Secretary Ben Carson said the department will champion the Trump Administration's efforts to end regulatory burdens, saying the federal government should not "hinder" the role of private enterprise.

The Federal Housing Finance Agency on Friday said it would add a preferred language question to the redesigned Uniform Residential Loan Application, despite concerns by the Mortgage Bankers Association and the real estate finance industry.

DENVER--HUD Secretary Ben Carson said the department will champion the Trump Administration's efforts to end regulatory burdens, saying the federal government should not "hinder" the role of private enterprise.

The Federal Housing Finance Agency on Friday said it would add a preferred language question to the redesigned Uniform Residential Loan Application, despite concerns by the Mortgage Bankers Association and the real estate finance industry.

DENVER--HUD Secretary Ben Carson said the department will champion the Trump Administration's efforts to end regulatory burdens, saying the federal government should not "hinder" the role of private enterprise.

National Mortgage News, Oct. 18, 2017--John Heltman (subscription)The Consumer Financial Protection Bureau released non-binding principles Wednesday for third parties that use consumer financial data to help guide the development of innovative but safe fintech solutions.

National Mortgage News, Oct. 23, 2017--Kate Berry, Ian McKendry (subscription)With lawmakers poised to vote as early as this week on a measure overturning the Consumer Financial Protection Bureau's arbitration rule, opposing sides in the arbitration debate--both in and out of government--are still battling over whose data is more credible.

Bloomberg, Oct. 23, 2017--Joe Light"Innocent errors should not create chaos and fear and make people less likely to get involved in the first place," Carson said in a speech at a Mortgage Bankers Association conference in Denver.

HousingWire, Oct. 23, 2017--Sarah WheelerMBA President and CEO David Stevens said the safety the industry now feels could be quickly undone, Stevens said, depending on the leaders the Trump administration chooses to lead the Federal Housing Finance Agency and the Consumer Financial Protection Bureau.

National Mortgage Professional, Oct. 23, 2017--Phil HallMBA President and CEO David Stevens said MBA has established a vibrant relationship with the Administration and continues to be a prominent thought leader in the nation's capital.

Servicing Management, Oct. 23, 2017--Graham SmithAlthough the impact of hurricanes Harvey and Irma on the national mortgage default rate has yet to be fully realized, unforeseen events such as these can result in a wave of defaults that can challenge a servicing shop.

American Banker, Oct. 23, 2017--Elina Tarkazikis (subscription)The Consumer Financial Protection Bureau's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, according to David Motley, the new chairman of the Mortgage Bankers Association.

Mortgage Daily, Oct. 20, 2017Well over a hundred mortgage jobs are being eliminated by Stearns Lending LLC. The impacted employees are located in the Golden State.

National Mortgage News, Oct. 20, 2017--Bonnie Sinnock (subscription)Equifax continues work to add new security features and restore full access to The Work Number following a report highlighting potential security vulnerabilities in a browser-based portal of its employment verification service. The Work Number employee portal was taken offline for servicing on Oct. 8.

National Mortgage News, Oct. 19, 2017--Bonnie Sinnock (subscription)Freddie Mac is revising the way lenders need to submit payment information on certain student loans in order to calculate a borrower's monthly debt-to-income ratio.

Bloomberg, Oct. 19, 2017--Joe LightFor the past eight years, Brian Montgomery has helped mortgage lenders fight penalties sought by the Federal Housing Administration. Now he's President Donald Trump's nominee to lead the agency.

HousingWire, Oct. 17, 2017--Brena SwansonAs the debate around what tax reform looks like heightens, the Mortgage Bankers Association is jumping in on the conversation, saying that they support the opportunity for comprehensive tax reform.

Reuters, Oct. 19, 2017--David MorganThe budget resolution contains a legislative tool called reconciliation, which would enable Republicans, who control the 100-seat Senate by a 52-48 margin, to move tax legislation through the Senate on a simple majority vote. Otherwise, tax reform would need 60 votes and would likely fail.

Wall Street Journal, Oct. 18, 2017--Robyn A. Friedman (subscription)Some mortgage servicers have a bad reputation for service: In a survey released earlier this year, unhappy mortgage customers said their servicers were more focused on profit than on their customers.

National Mortgage News, Oct. 18, 2017--Elina Tarkazikis (subscription)The percentage of refinance loans rose to 38% in September as interest rates dipped to their lowest level in 2017, according to Ellie Mae's Origination Insight Report. Last month, refinances comprised 35% of total loans.

Mortgage Professional America, Oct. 18, 2017--Francis MonfortMortgages are the leading source of complaints to the Consumer Financial Protection Bureau among consumers 62 years old and older, according to a report by the US Public Interest Research Group and the Frontier Group.

HousingWire, Oct. 18, 2017--Ben LaneIn a release, the company says that the moves are designed to "reposition the segment for sustained profitability by focusing on the core products and services that Radian believes have higher growth potential, produce more predictable and recurring fee-based revenues, and better align with customer needs."

Milwaukee Journal-Sentinel, Oct. 18, 2017--Paul GoresThird-quarter profits more than doubled for MGIC Investment Corp. as mortgage delinquencies continued to decline and the quarterly results comparison benefited from a one-time loss in last year's third period.

Washington Post, Oct. 18, 2017--Kenneth Harney A recent legal settlement between the federal government and a title insurance agency is drawing fresh attention to one of the murkiest, least understood and costly items you get charged for in a real estate closing: title insurance.

HousingWire, Oct. 17, 2017--Ben LaneThe nonbank disclosed Tuesday in a filing with the Securities and Exchange Commission that it reached agreements with Arkansas, Tennessee, and the District of Columbia, bringing the total number of states it's settled with to 20.

Wall Street Journal, Oct. 17, 2017--Esther Fung (subscription)The U.S. has far too many malls scrambling to attract consumers at a time when online shopping is tightening its grip. That doesn't mean middling malls will die quickly, however.