The Lede

WASHINGTON, D.C.--It's an extraordinary environment in the Nation's Capital right now (let's just leave it at that). But behind the scenes, and in the halls of regulatory agencies and Congress, says Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, the real estate finance industry's efforts are starting to bear fruit.

WASHINGTON, D.C.--HUD General Counsel J. Paul Compton Jr. said his first job is to "make sure the trains run on time." But he also noted that the department is committed to smoothing out bumps, including regulatory hurdles that inhibit lenders' ability to serve customers effectively.

WASHINGTON, D.C.--It's an extraordinary environment in the Nation's Capital right now (let's just leave it at that). But behind the scenes, and in the halls of regulatory agencies and Congress, says Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, the real estate finance industry's efforts are starting to bear fruit.

WASHINGTON, D.C.--HUD General Counsel J. Paul Compton Jr. said his first job is to "make sure the trains run on time." But he also noted that the department is committed to smoothing out bumps, including regulatory hurdles that inhibit lenders' ability to serve customers effectively.

WASHINGTON, D.C.--It's an extraordinary environment in the Nation's Capital right now (let's just leave it at that). But behind the scenes, and in the halls of regulatory agencies and Congress, says Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, the real estate finance industry's efforts are starting to bear fruit.

WASHINGTON, D.C.--HUD General Counsel J. Paul Compton Jr. said his first job is to "make sure the trains run on time." But he also noted that the department is committed to smoothing out bumps, including regulatory hurdles that inhibit lenders' ability to serve customers effectively.

Quicken Loans, Detroit, said its National Home Price Perception Index showed perceptions between appraised values and homeowner estimates remained close and held steady in August.

The Federal Housing Finance Agency yesterday issued a proposed rule to require Fannie Mae and Freddie Mac to align programs, policies and practices that affect prepayment rates of "To-Be-Announced"-eligible mortgage-backed securities.

The Consumer Financial Protection Bureau yesterday issued an interim rule updating two model disclosures to reflect changes made to the Fair Credit Reporting Act by the Economic Growth, Regulatory Relief and Consumer Protection Act.

CoreLogic, Irvine, Calif., reported a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter, the seventh consecutive quarterly increase.

In a letter to the Department of Agriculture, the Mortgage Bankers Association offered a series of recommendations on a proposed Guarantee Systems User Fee in the Rural Housing Service's Single-Family Section 502 Guaranteed Loan Program.

National Mortgage News, Sept. 17, 2018--Kate Berry (subscription)The Consumer Financial Protection Bureau is revamping a program to encourage innovation in consumer disclosures after an earlier effort drew little industry interest.

Wall Street Journal, Sept. 18, 2018--Laura Kusisto (subscription)Finding temporary housing for thousands of North Carolinians displaced by Hurricane Florence could prove more difficult than it was for those uprooted by other recent U.S. storms and hurricanes.

National Mortgage News, Sept. 17, 2018--Brad Finkelstein (subscription)Commercial mortgage-backed securities delinquency rates are likely to continue to decrease for the rest of the year, as new issuances outpace maturing loans and precrisis loans continued to get resolved by special servicers, Fitch Ratings said.

Bloomberg, Sept. 17, 2018--Justin FoxManhattan has fewer retail establishments now than in 2001. But there are other boroughs and other uses of storefront space.

UExpress, Sept. 14, 2018--Lew SichelmanThese arrangements rarely work out for the wannabe owners, but they are windfalls for the seller-landlords. Granted, some rent-to-own contracts are fair and equitable. But most are just backdoor deals that often prey on people who don't have a big enough nest egg, or a high enough credit score, to meet normal lending standards.

American Banker, Sept. 14, 2018--Victoria Finkle (subscription)It's not exactly news that banks have seen their reputation with the public tumble since the financial crisis, but what gets talked about less frequently is what's at risk for the industry if it can't turn public opinion around.

Mortgage Daily, Sept. 14, 2018Bradley Shuster will relinquish his CEO role at the end of this year. He'll stay on as executive chairman, though. Claudia Merkle will take the reins from Shuster on Jan. 1, 2019. She'll also join the board of directors.

Reuters, Sept. 14, 2018--Jonathan StempelMaria Vullo, superintendent of New York's Department of Financial Services, called the July 31 decision by the Office of the Comptroller of the Currency to let financial technology companies, or fintech firms, obtain charters "lawless, ill-conceived, and destabilizing of financial markets."

Mortgage Daily Sept. 14, 2018On Thursday the House Financial Services Committee approved House Bill H.R. 5534, the Give Useful Information to Define Effective Compliance Act, by a 34-17 vote.

MarketWatch, Sept. 14, 2018--Andrea RiquierAmerican homeowners have amassed a record $6 trillion in equity in their properties, a figure boosted by surging home prices and a trend of owners staying put longer. But rising interest rates and caution resulting from the housing troubles of a decade ago are limiting how much of that equity is getting tapped. (MBA mention)

Mortgage Daily, Sept. 14, 2018More than $5 billion in residential loans are being moved out of the mortgage investment portfolio of Fannie Mae. The loans are nonperforming and reperforming.

National Mortgage News, Sept. 13, 2018--Paul Centopani (subscription)The median down payment on single-family homes and condos purchased with financing reached its highest point since the data was first recorded in 2000's opening quarter, according to Attom Data Solutions.

Reuters, Sept. 14, 2018-Michelle Conlin, Robin Respaut"The markets that came roaring back are the coastal markets," said Mark Zandi, chief economist at Moody's Analytics. He said land restrictions and sales to international buyers have helped buoy demand in those areas. "In the middle of the country, you have more flat-lined economies. There's no supply constraints. All of these things have weighed on prices."

American Banker, Sept. 13, 2018--Neil Haggergy (subscription)The House Financial Services Committee advanced a dozen bills Thursday, including bipartisan measures to revise the definition of deposit brokers and to require the Consumer Financial Protection Bureau to establish a process for issuing guidance.

New York Times, Sept. 12, 2018--Matthew Goldstein, Robert Gebeloff, Ross Mantle, Matt RubyHousing prices in North Las Vegas are rising so fast that many communities are no longer affordable. Much of the new construction is at the high end, keeping out many first-time homeowners. Some cannot come up with money for a down payment, while others are wary of getting back into a market that once burned them.

Wall Street Journal, Sept. 12, 2018--Aruna Viswanatha, Kate O'Keefe (subscription)Two years before Equifax Inc. stunned the world with the announcement it had been hacked, the credit-reporting company believed it was the victim of another theft, only this time at the hands of Chinese spies, according to people familiar with the matter.

National Mortgage News, Sept. 11, 2018--Hannah Lang (subscription)Housing finance reform is still likely years away, but two major hurdles may already be cleared. A key sticking point in earlier attempts to overhaul the system was whether it will still have government backing. A related question also creeping up at times: What agency will be the source of that backing?

Wall Street Journal, Sept. 11, 2018--Esther Fung (subscription)These municipalities, concerned that vacated retail centers will blight the landscape and drag down surrounding property values, have been buying up malls they fear are being starved of capital by the private sector.