The Lede

Ahead of Thursday's release of the Mortgage Bankers Association's National Delinquency Survey, CoreLogic, Irvine, Calif., said overall foreclosure and delinquency rates fell to 12-year lows. But it also noted 2018 wildfires in California and other western states are "outpacing" the devastating fires of 2017, putting potentially thousands of mortgages at risk.

The Bureau of Consumer Financial Protection (Consumer Financial Protection Bureau) on Friday finalized amendments to implement legislation that allows financial institutions that meet certain requirements to be exempt from sending annual privacy notices to their customers.

ATTOM Data Solutions, Irvine, Calif., reported 5.5 million U.S. properties as "seriously underwater" in the second quarter, representing 10.1 percent of all properties with a mortgage.

The Mortgage Bankers Association's annual Risk Management, QA and Fraud Prevention Forum takes place Sept. 23-25 in Los Angeles.

MISMO®, the mortgage industry's standards organization, seeks participants for two new groups designed to help improve risk management of third parties while reducing costs for all parties.

The Mortgage Bankers Association and the National Association of Hispanic Real Estate Professionals have developed a Spanish-language version of Disaster Recovery: A Resource for Homeowners, a consumer-facing informational guide.

MBA Education presents a special Advanced Risk Management Concepts Workshop on Sept. 23 at the JW Marriott L.A. Live in Los Angeles in conjunction with the MBA Risk Management & Quality Assurance Forum.

National Mortgage News, Aug. 13, 2018--Elina Tarkazikis (subscription)The percentage of nonconventional financing for new-home purchases fell to 30.8% in 2017, from 31.5% in 2016. For reference, 2016 was the first time this share represented less than a third of the market since 2008.

Bloomberg, Aug. 13, 2018--Jeanna SmialekGross domestic product remains well below what its 2007 trend would have implied and it's unlikely the economy will ever make up that lost ground, according to research from the Federal Reserve Bank of San Francisco published Monday. The hit will cost the average American $70,000 in lifetime income, they estimate.

American Banker, Aug. 13, 2018--Victoria Finkle (subscription)As the negative headlines pile up, a question arises: Has Wells fatigue set in?

National Mortgage News, Aug. 10, 2018--Neil Haggerty (subscription)The Federal Reserve Board announced an $8.6 million fine against Citigroup Friday, alleging deficiencies in how a subsidiary prepared certain mortgage-related documents in 2015.

Mortgage Daily, Aug. 10, 2018Monthly FHA business inched higher and might accelerate further. Delinquency turned sharply higher, and reverse mortgage production was the slowest it's been in four years. But commercial mortgage endorsements doubled.

HousingWire, Aug. 9, 2018--Ben LaneThe government-sponsored enterprise issued a new warning this week, identifying 10 new purported employers that do not seem to actually exist.

American Banker, Aug. 9, 2018--Rachel Witkowski (subscription)Federal agencies have recently rolled out a series of efforts aimed at collaborating more on fintech regulation, but one key question remains: who is taking the lead?

American Banker, Aug. 8, 2018--Neil Haggerty (subscription)The hearing is planned for "no later than" Sept. 27 and Fannie Mae Chief Executive Timothy Mayopoulus and FHFA Director Mel Watt "will be invited to testify," according to a press release from Committee Chairman Jeb Hensarling, R-Texas, and Oversight and Investigations Subcommittee Chairman Ann Wagner, R-Mo.

Reuters, Aug. 8, 2018--Pete SchroederThe Trump administration moved on Wednesday to drastically shrink the Office of Financial Research, a government agency tasked with identifying looming financial risks, notifying around 40 staff members they would be laid off.

National Mortgage News, Aug. 8, 2018--Bonnie Sinnock (subscription)Quicken Loans subsidiary One Reverse Mortgage is rolling out a private-label alternative to the Federal Housing Administration's Home Equity Conversion Mortgage that offers higher loan limits and more flexible underwriting terms.

National Mortgage News, Aug. 8, 2018--Allison Bisbey (subscription)Ocwen is refinancing $300 million of bonds backed by reimbursement rights to funds it has advanced on residential mortgages it services. The two new series of notes will both extend the maturity of the debt issued by the securitization trust and reduce the interest rate.

The Hill, Aug. 7, 2018--Sylvan LaneDemocratic Sens. Heidi Heitkamp (N.D.) and Jon Tester (Mont.), both big GOP targets this November in states won easily by Trump in 2016, say they are opposed to supporting Kathy Kraninger's nomination to lead the CFPB, joining forces with Warren and other liberal colleagues.

Wall Street Journal, Aug. 7, 2018--Esther Fung (subscription)Eric Yip, a hedge-fund manager known for wagering on the demise of the weakest American malls is raising the stakes, betting some of the hardest-hit shopping centers are in a death spiral.

American Banker, Aug. 7, 2018--Hannah Long (subscription)Mortgage giants Fannie Mae and Freddie Mac could require as much as $78 billion in bailout money in the event of a serious financial crisis, according to stress test results released Tuesday by the Federal Housing Finance Agency.

American Banker, Aug. 7, 2018--Hannah Long (subscription)The Federal Housing Finance Agency has faced a barrage of negative headlines lately, from a sexual harassment probe of Director Mel Watt to a court ruling declaring the agency's leadership structure unconstitutional.

Mortgage Daily, Aug. 7, 2018Bids are being sought for mortgage-servicing rights on 588 single-family loans that had an aggregate unpaid principal balance of $149 billion as of June 30.