The Lede

The Mortgage Bankers Association and nearly a dozen industry trade groups called on the House to pass a pending bill that would provide consumers with greater choice in mortgage and settlement services.

The Leading Indicator of Remodeling Activity from the Joint Center for Housing Studies of Harvard University, Cambridge, Mass., projects homeowner spending on improvements and repairs will approach $340 billion in 2018, an increase of 7.5 percent from estimated 2017 spending.

Despite a triple whammy of summer hurricanes, along with California wildfires that drove up mortgage delinquencies toward year-end, the overall rate of mortgage delinquencies and foreclosures fell in 2017, said Black Knight, Jacksonville, Fla.

A survey from LendEDU, Hoboken, N.J., found little more than half of consumers who take out home equity loans use those funds for home improvement projects.

A bill introduced this week in the Senate would restore captive insurance companies' membership in the Federal Home Loan Bank system, a provision strongly supported by the Mortgage Bankers Association.

ACES Risk Management, Pompano Beach, Fla., released its Mortgage QC Trends Report for second quarter 2017, noting the critical defect rate increased for the third consecutive quarter.

CNBC, Feb 5, 2018--Lauren ThomasDepartment store chain Bon-Ton filed Chapter 11 bankruptcy protection and will explore strategic alternatives including a sale of the company. The retailer is in the midst of closing more than 40 stores across the U.S.

Reuters, Feb. 5, 2018--Patrick RuckerConsumer advocates on Monday urged the Trump administration to resume an investigation into how Equifax failed to protect the personal data of millions of consumers after Reuters reported the head of the U.S. consumer watchdog has pulled back on the existing probe.

Wall Street Journal, Feb. 2, 2018--Josh Mitchell (subscription)The U.S. student-loan program is rapidly headed toward becoming a net cost to the federal government, reversing years of projected profits, according to a government report released Friday.

Reuters, Feb. 2, 2018--Jonathan StempelA judge has dismissed a lawsuit by a federal credit union in Manhattan that sought to block U.S. President Donald Trump from installing Mick Mulvaney as acting director of the Consumer Financial Protection Bureau.

National Mortgage News, Feb. 2, 2018--Ian McKendry (subscription)Housing finance reformers are pushing full steam ahead to get a bill introduced before the political calendar makes passage nearly impossible.

HousingWire, Feb. 2, 2018--Ben LaneThe nonbank announced late Thursday that Anthony Renzi, who took over in September 2016, is leaving the company. According to Walter, Renzi will stay on as CEO and president while the company searches for a replacement for the fifth time since October 2015.

Mortgage Orb, Feb. 2, 2018--Patrick BarnardA bill introduced in the Senate would reverse a 2016 ruling from the Federal Housing Finance Agency to disallow captive insurance companies from membership in the Federal Home Loan Bank System. David Stevens, president and CEO of the Mortgage Bankers Association, expressed support for the bill.

National Mortgage News, Feb. 2, 2018--Elina TarkazikisOne hot topic will be how servicers are responding to recent natural disasters like hurricanes and wildfires that have affected mortgage borrowers in pockets of the country. Servicers will be looking to stay updated on natural disaster initiatives, policies and impending rule changes.

Dayton Daily News (Ohio), Feb. 1, 2018--Thomas GnauThe National Fair Housing Alliance, with 19 fair housing organizations, iled a lawsuit Thursday in federal court against Deutsche Bank, Deutsche Bank National Trust, Deutsche Bank Trust Company Americas, Ocwen Financial Corp. and Altisource Portfolio Solutions Inc., for allegedly neglecting foreclosed and bank-owned homes in minority neighborhoods.

Mortgage Daily, Feb. 1, 2018Issuance of fixed-rate mortgage-backed securities on behalf of Fannie, Freddie Mac and Ginnie Mae came to $100.114 billion during the first month of this year. Volume declined from December.

National Mortgage News, Feb. 1, 2018--Brad Finkelstein (subscription)The changes to the tax code reduced Radian Group's fourth-quarter net income as the company took an incremental provision of $102.6 million.

Wall Street Journal, Feb. 1, 2018--Ryan Tracy (subscription)The Federal Reserve said Thursday that its stress tests for big banks will imagine a more severe economic downturn in 2018 than in last year's version, as it announced the details of the hypothetical scenario banks must survive to pass the exams.

National Mortgage News, Feb. 1, 2018--Kate Berry (subscription)Acting Consumer Financial Protection Bureau Director Mick Mulvaney has stripped the agency's fair lending office of enforcement powers in a sign that many consumer advocates see as trying to reduce oversight and penalties for firms that discriminate against borrowers.

Mortgage Daily, Jan. 31, 2018Mortgage servicing rights on 1,176 Fannie Mae, Freddie Mac and Ginnie Mae loans with a collective unpaid principal balance of $361 billion are being offered for sale.

National Mortgage News, Jan. 31, 2018--Bonnie Sinnock (subscription)Sustained higher rates could extend the lives of existing mortgages, creating a growing workload for servicers, according to industry vendor Subsequent QC.

Bloomberg, Jan. 31, 2018--Joe LightThe draft, the result of discussions between Tennessee Republican Bob Corker and Virginia Democrat Mark Warner, gives the clearest view yet into how the senators aim to woo progressive politicians to back their plan for addressing mortgage-giants Fannie Mae and Freddie Mac. Support from those Democrats is likely needed to meet the 60-vote threshold for passing major bills in the Senate.

American Banker, Jan. 31, 2018--Kate Berry (subscription)A federal appeals court handed a major victory - and a significant defeat - to the Consumer Financial Protection Bureau by upholding its constitutional structure while also slapping down the agency's practice of making new interpretations of law through enforcement actions.

National Mortgage News, Jan. 30, 2018--John Heltman (subscription)During a Senate Banking Committee hearing, Mnuchin said reform of Fannie Mae and Freddie Mac is a top priority of the Trump administration. While he declined to spell out many details of the administration's views, he said keeping the 30-year fixed-rate mortgage is essential and that requires backing by a government guarantee.

Mortgage Daily, Jan. 30, 2018Allegations of unfair servicing and foreclosure practices in Massachusetts have been resolved by Nationstar Mortgage LLC through a multi-million-dollar settlement.

Wall Street Journal, Jan. 30, 2018--Laura Kusisto (subscription)The U.S. homeownership rate rose in 2017 for the first time in 13 years as young households overcame significant hurdles to purchase homes in growing numbers and one of the deepest wounds from the housing crisis began to heal.

Tribune News Service, Jan. 30, 2018--Stephen KoffFrom the lips of President Trump to the computer keyboard of his budget director, Mick Mulvaney, leading Republicans have now personally blamed one Obama appointee--Richard Cordray--for representing so much of what they are trying to change.