The Lede

The Mortgage Bankers Association, in a letter to the Federal Housing Finance Agency, said affordable housing goals for Fannie Mae and Freddie Mac should ensure sustainable housing for low- and very low-income households, they should be balanced with and accompany other tools and objectives.

Most multifamily executives believe the rental housing market will continue to grow, but many are less optimistic about the affordable housing outlook, reported Freddie Mac, McLean, Va.

Hurricane Harvey dropped more than 50 inches of rain in the Houston area, but the city has survived at least eight other severe floods and hurricanes since 1998 and it will rebound from this, too, said CBRE, Los Angeles.

The Mortgage Bankers Association released a new MBANow video featuring Cliff Rossi, Executive in Residence of the Practice at the Robert H. Smith School of Business at the University of Maryland, to discuss a soon-to-be published a paper on risk management through the MBA-sponsored Research Institute for Housing America and a program he's developed with MBA Education on Advanced Risk Management.

Black Knight, Jacksonville, Fla., reported $467 billion in first-lien mortgages in the second quarter, up by 20 percent from the first quarter but down by 16 percent from a year ago.

Most multifamily executives believe the rental housing market will continue to grow, but many are less optimistic about the affordable housing outlook, reported Freddie Mac, McLean, Va.

The Mortgage Bankers Association released a new MBANow video featuring Cliff Rossi, Executive in Residence of the Practice at the Robert H. Smith School of Business at the University of Maryland, to discuss a soon-to-be published a paper on risk management through the MBA-sponsored Research Institute for Housing America and a program he's developed with MBA Education on Advanced Risk Management.

Most multifamily executives believe the rental housing market will continue to grow, but many are less optimistic about the affordable housing outlook, reported Freddie Mac, McLean, Va.

The Mortgage Bankers Association released a new MBANow video featuring Cliff Rossi, Executive in Residence of the Practice at the Robert H. Smith School of Business at the University of Maryland, to discuss a soon-to-be published a paper on risk management through the MBA-sponsored Research Institute for Housing America and a program he's developed with MBA Education on Advanced Risk Management.

MBA Education and MISMO offer you the opportunity to own the complete Compliance Essentials Home Mortgage Disclosure Act Data Points Series for a special member price.

MISMO seeks nominations of qualified industry professionals to serve on its Standards Governance Committees for two-year terms beginning in January.

HousingWire, Sept. 7, 2017--Ben LaneOcwen Financial will pay a fine of $1 million for running afoul of the terms of the National Mortgage Settlement by not properly refunding force-placed insurance premiums to certain borrowers during the first quarter.

Financial times, Sept. 11, 2017--Jessica Dye (subscription)A decade after the financial crisis, the US has filed a civil lawsuit accusing the former head of subprime trading at Deutsche Bank of misleading investors about the characteristics of loans backing more than $1bn worth of securitisations that resulted in hundreds of millions of dollars in investor losses.

National Mortgage News, Sept. 11, 2017--Bonnie Sinnock (subscription)Private-label residential mortgage-backed securities could have more potential exposure to Hurricane Irma than any recent storm, and the hurricane also could have implications for agency and government markets.

National Mortgage News, Sept. 11, 2017--Elina Tarkazikis (subscription)The Terrorism Risk Insurance Act was created after 9/11 to serve as a crucial federal backstop for commercial real estate insurers, but an analysis of alternatives to fund the program reveals the continued challenges of measuring and predicting terror risk.

Charlotte Observer, Sept. 11, 2017--Deon RobertsWells Fargo has made more layoffs within its Fort Mill mortgage operation, according to a notice filed with the state of South Carolina. The layoffs stem from the closure of Wells' reverse-mortgage servicing operating unit, a move impacting 120 jobs.

American Banker, Sept. 11, 2017--Jackie Stewart (free article)The Mortgage Bankers Association said it had received a lot of questions from homeowners who didn't know how to start assessing damage from Harvey and Irma. The group encouraged customers to contact their loan servicers to find out about programs that could help them, along with their insurers and FEMA.

Bloomberg, Sept. 8, 2017--Polly MosendzA proposed class-action lawsuit was filed against Equifax Inc. late Thursday evening, shortly after the company reported that an unprecedented hack had compromised the private information of about 143 million people.

National Mortgage News, Sept. 8, 2017--Ian McKendry (subscription)The massive breach at Equifax is likely to hurt--and may ultimately doom--efforts by Republicans to overturn the Consumer Financial Protection Bureau's rule banning mandatory arbitration clauses.

New York Times, Sept. 8, 2017In an editorial, the NYT says weakening the regulation of institutions that are not banks would weaken a regulatory process that is already too restrained.

Bloomberg, Sept. 8, 2017--Danielle DiMartino BoothSomething is up, or more likely down, with the U.S. housing market. And the reconstruction after Hurricane Harvey may not do much to help. (MBA mention)

HousingWire, Sept. 8, 2017"After nine years of this untenable status quo, GSE reform is of the utmost priority," David Stevens, CMB, said in a blog post. "Congress has an obligation now to act to stabilize the housing finance system for the future and make it more resilient in economic downturns."

Mortgage Daily, Sept. 7, 2017Ownership of mortgage servicing rights on a large portfolio of government-sponsored enterprise single-family loans is trading hands.

HousingWire, Sept. 5, 2017--Brena SwansonAs the expiration date of the National Flood Insurance Program draws nearer, the Congressional Budget Office, a nonpartisan analysis for the U.S. Congress, calculated that the program has an expected one-year shortfall of $1.4 billion.

National Mortgage News, Sept. 7, 2017--Kevin Wack (subscription)Lenders in Houston and other flood-ravaged parts of Texas are bracing for a wave of missed payments--particularly on auto loans and residential mortgages--as distressed borrowers use any available cash to get back on their feet.

HousingWire, Sept. 7, 2017--Ben LaneThe new bill is called the "TRID Improvement Act of 2017," and has yet to be officially introduced into the House, but the bill was discussed on Capitol Hill on Thursday during a meeting of the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee.

Washington Post, Sept. 7, 2017--Craig Timberg, Elizabeth Dwoskin, Brian FungCredit reporting agency Equifax said Thursday that hackers gained access to sensitive personal data--Social Security numbers, birth dates and home addresses--for up to 143 million Americans, a major cybersecurity breach at a firm that serves as one of the three major clearinghouses for Americans' credit histories.

Mortgage Daily, Sept. 6, 2017The offering involves MSRs on 1,888 Ginnie Mae single-family loans that have a collective unpaid principal balance of $424 million.

Mortgage Daily, Sept. 6, 2017Origination and securitization of loans that don't meet Qualified Mortgage requirements has been expanding, and performance is strong. But higher rates are leading to higher prepayments.

National Mortgage News, Sept. 6, 2017--Bonnie Sinnock (subscription)Ginnie Mae is preparing to give servicing assistance to issuers affected by Hurricane Harvey if more than 5% of their portfolio is in a federal disaster area.

National Real Estate Investor, Sept. 5, 2017--Bendix AndersonMultifamily real estate investment trusts keep building new apartments and the analysts who track the companies are getting worried.

Wall Street Journal, Sept. 5, 2017--Esther Fung (subscription)Malls need to shift emphasis away from department stores and toward retailers that are less susceptible to competition from e-commerce, according to a report from real estate services firm CBRE Research.

Wall Street Journal, Sept. 5, 2017--Peter Grant (subscription)Banks and other underwriters of commercial mortgage-backed securities are on track to issue more notes in September than any other month this year.

Mortgage Daily, Sept. 5, 2017--Sam GarciaNew and upgraded offerings recently unveiled by service providers promise to help lenders comply with the Home Mortgage Disclosure Act, the Ability to Repay rule and Fannie Mae's Day 1 Certainty initiative.

Bloomberg, Sept. 7, 2017--Laura J KellerThe underlying mortgages are all guaranteed by Fannie Mae or Freddie Mac, San Francisco-based Wells Fargo said Thursday in a statement that didn't include terms. The serving rights will be reflected in third-quarter results.