The Lede

Genworth Mortgage Insurance, Richmond, Va., said despite slowing home sales, first-time homebuyer purchase grew in the second quarter, with conventional mortgages using private mortgage insurance becoming the largest source of credit to first-timers.

S&P Dow Jones Indices and Experian, New York, reported credit default rates for first mortgages and other forms of consumer credit were relatively unchanged in July.

Black Knight, Jacksonville, Fla., said continued hurricane-related cure activity pushed delinquencies to their lowest level in more than 12 years, although foreclosures rose to a three-month high.

The Mortgage Bankers Association offered recommendations to the Rural Housing Service as it mulls changes to its Single-Family Housing Guaranteed Loan Program/Single Close Combination Construction to Permanent Loans program.

Wall Street Journal, Aug. 27, 2018--Esther Fung (subscription)CBRE Global Investors has purchased a 49% stake in three malls in a deal that values them at more than $1 billion and shows that investors still have an appetite for top-tier retail property.

American Banker, Aug. 27, 2018--Hannah Long (subscription)The Congressional Budget Office has found that restructuring the mortgage market would save the government tens of billions of dollars, but could also increase the cost of housing, presenting yet another hurdle for lawmakers looking to reform mortgage giants Fannie Mae and Freddie Mac.

NPR, Aug. 27, 2018--Cory TurnerIn a scathing resignation letter, Seth Frotman, who until now was the Student Loan Ombudsman at the Consumer Financial Protection Bureau, says current leadership "has turned its back on young people and their financial futures." The letter was addressed to Mick Mulvaney, the bureau's acting director.

RESPA News, Aug. 27, 2018The Fair Housing Act standard on disparate impact is dated and should be amended, according to the Mortgage Bankers Association and eight other trade groups.

Mortgage Daily, Aug. 24, 2018New quarterly business moved modestly higher at Quicken Loans Inc., as did the company's mortgage servicing portfolio.

National Mortgage News, Aug. 24, 2018--Bonnie Sinnock (subscription)Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.

HousingWire, Aug. 23, 2018--Ben LaneThe SEC took action against Equitybuild, Equitybuild Finance, and the company's operators, the father and son team of Jerome and Shaun Cohen, for allegedly defrauding at least 900 investors by promising guaranteed returns on real estate investments.

USA Today, Nathan Bomey, Charisse JonesThe parent company of the two chains, Sears Holdings, announced Thursday that it would close about 5 percent of its remaining stores, all of which it said were losing money, totaling 46 stores.

Charlotte Observer, Aug. 23, 2018--Deon RobertsWells Fargo is laying off 101 employees in its Charlotte-area mortgage operation, part of a nationwide cut affecting 638 employees, the company said Thursday.

The Hill, Aug. 23, 2018--Sylvan LaneAll 13 Republicans on the Senate Banking Committee voted to recommend the confirmation of Kathleen Kraninger to lead the polarizing financial regulator for a five-year term, while all 12 Democrats opposed her. The Committee also approved Michael Bright as President of Ginnie Mae by voice vote.

Mortgage Daily, Aug. 22, 2018More than a billion dollars in single-family loans that were previously non-performing are being moved from Freddie Mac's balance sheet to a securitized trust.

National Mortgage News, Aug. 22, 2018--Elina Tarkazikis (subscription)Better consumer credit quality helped push the serious mortgage delinquency rate to its lowest level since the Great Recession, but originations remain low due to a combination of tighter underwriting standards and eroding homebuyer affordability, according to TransUnion.

HousingWire, Aug. 22, 2018--Ben LaneHUD said Wednesday that it will continue moving forward in its effort to change a controversial Obama-era fair housing rule now that a federal court has struck down a challenge to the Trump administration's moves.

HousingWire, Aug. 21, 2018--Ben LaneAccording to the Federal Housing Finance Agency, the GSEs' expansion into single-family rentals was conducted on a "test and learn" basis, designed to determine if the GSEs were needed to support the growing single-family rental market. But FHFA said that it has since learned that the market can function without the GSEs.

Mortgage Daily, Aug. 21, 2018Serious delinquency on first mortgages was little changed last month, as has been the case for a half-decade, said S&P and Experian. In Miami, serious consumer delinquency plunged more than 60 basis points.

HousingWire, Aug. 22, 2018--Ben LaneThe Office of Mortgage Settlement Oversight announced early Wednesday morning that all of the servicers under its oversight have completed their servicing obligations and the monitor's work is now complete.

National Mortgage News, Aug. 21, 2018--Hannah Long (subscription)Scrutiny of Federal Housing Finance Agency Director Mel Watt continues to mount as he faces an equal-pay lawsuit from the employee who alleged he sexually harassed her and mainstream news outlets report more details about the growing scandal.