The Lede

The Federal Housing Finance Agency said Fannie Mae and Freddie Mac have transferred nearly $2.5 trillion of credit risk to the private market since 2013.

By one measure, Huntsville, Ala., is the real estate-owned capital of the country.

The commercial mortgage-backed securities loan delinquency rate reversed its consistent improvement in October, moving one basis point higher to 3.42 percent, reported Trepp, New York.

The Census Bureau yesterday reported the U.S. homeownership rate rose slightly in the third quarter, to 64.4 percent, from 64.3 percent in the second quarter and from 63.9 percent a year ago.

The Mortgage Bankers Association's MBA Accounting & Financial Management Conference takes place in Orlando Nov. 12-14.

National Mortgage News, Nov. 5, 2018--Bonnie Sinnock (subscription)Although forecasts anticipate a continuing drop in overall originations, private-label residential mortgage-backed securitizations backed by newer loans are expected to keep increasing through next year, according to Bank of America.

HousingWire, Nov. 5, 2018--Jessica GuerinRMI President John Lunde said the numbers continue to point to a slow recovery for the HECM industry, which has seen volume nosedive this year thanks to program changes issued last October.

Wall Street Journal, Nov. 5, 2018--Sarah Nassauer (subscription)Lowe's Cos. Inc. said it would close nearly 50 stores as a new CEO seeks to boost sales by shedding less-profitable locations and focus spending elsewhere.

HousingWire, Nov. 2, 2018--Alcynna LloydFannie Mae reported Friday it posted a comprehensive income of $4 billion in the third quarter, which was primarily driven by the company's business fundamentals.

National Mortgage News, Nov. 2, 2018--Bonnie Sinnock (subscription)The fierce competition between Fannie Mae and Freddie Mac has largely taken a backseat to the myriad reforms enacted over the 10 years the mortgage giants have been in federal conservatorship. But the unique approach each company is taking with their credit-risk transfer products is quickly becoming a key point of differentiation with long-term implications.

National Mortgage News, Nov. 2, 2018--Elina TarkazikisThe bank, working to fulfill mortgage settlement agreements between the U.S. Department of Justice and three states, forgave a total of $78.7 million in principal on 746 first-lien mortgages since its last update on Aug. 1, for average principal forgiveness of $105,467 per loan and total reportable credit of $79.3 million after appropriate crediting calculations and multipliers were applied.

Bloomberg, Nov. 2, 2018--Christopher MaloneyThe bloodbath last month in the mortgage-bond market points to what the future may be like without Federal Reserve hand holding. Investors are now wondering if anyone will step in to stop the bleeding.

American Banker, Nov. 2, 2018--Kristin Broughton (subscription)The banking industry's chief worriers have a lot to worry about these days. Whether it's increased competition from nonbank lenders, the rise of e-commerce and its impact on traditional bank clients or the uncertainty created by the pending shift to a new benchmark lending rate, risk executives and board members at big banks see no shortage of threats to their industry.

Crain's Chicago Business, Nov. 2, 2018The hedge funds that now own the Toys "R" Us brand plan to relaunch the toy retailer as a standalone operation next year. They will look to raise capital to help revive the chain, which closed its last stores at the end of June, and are making plans that include brick-and-mortar locations.

HousingWire, Nov. 1, 2018--Jacob GaffneyIn two month's time, President Donald Trump will be able to replace Federal Housing Finance Agency Director Mel Watt, and there will also be new leadership at Fannie and Freddie. The represents a decisive opportunity for housing reform, something Trump has long supported.

Orange County Register, Nov. 1, 2018--Jeff LazersonIf affordability and qualifying are hurdles to a jumbo loan, there is some good news following a new report from CoreLogic that saw an 18 percent swan dive locally in year-over-year home sales. A new jumbo loan option eases borrowers into a permanent, fixed-rate mortgage by adding 10 years up front of lower interest-only payments, essentially making this a 40-year loan.

American Banker, Nov. 1, 2018--Rachel Witkowski (subscription)Among the key objectives with the CRA reform effort is redefining geographic areas in which banks are evaluated. Those areas are traditionally based on physical branch networks, but the rapid shift to digital banking has prompted a rethink.

HousingWire, Oct. 30, 2018--Jessica GuerinFederal Housing Administration Commissioner Brian Montgomery said Tuesday the agency is working to address the volatility within the reverse mortgage program, hinting that the industry can expect more change ahead.

National Mortgage News, Oct. 30, 2018--Elina Tarkazikis (subscrption)Housing policies are helping the number of vacant foreclosure homes drop, which could also mean homebuyers have been taking advantage of these properties as inventory continues to be constrained.

Wall Street Journal, Oct. 30, 2018--Esther Fung (subscription)It seemed one of the surest bets in real estate: build senior-housing facilities that cater to aging baby boomers who will require more care. The problem is, boomers haven't much cooperated.