The Lede

LOS ANGELES--With the slow, but definite shift from a refinance market to a purchase market, competition for borrowers is at unprecedented highs. And with that, says economist Lynn Fisher, comes a new set of risk for mortgage servicers.

Black Knight, Jacksonville, Fla., said mortgage delinquencies fell again in August, capping a strong summer that saw the strongest declines since 2000.

LOS ANGELES--With the slow, but definite shift from a refinance market to a purchase market, competition for borrowers is at unprecedented highs. And with that, says economist Lynn Fisher, comes a new set of risk for mortgage servicers.

LOS ANGELES--With the slow, but definite shift from a refinance market to a purchase market, competition for borrowers is at unprecedented highs. And with that, says economist Lynn Fisher, comes a new set of risk for mortgage servicers.

Forget housing starts; forget existing home sales (see story above); forget new home sales. The hot word in housing right now is "equity"--and it's something a growing number of Americans have as an option.

It appears that borrowers realize the refinance train is leaving the station.

A new Urban Institute paper says too many homeowners lack flood insurance; but those who do have flood insurance often buy it voluntarily-not because it was required by their mortgage lender.

The latest state dinged with an "overvalued" housing market is among the least-populated in the entire country: Idaho.

National Mortgage News, Sept. 24 2018--Paul Centopani (subscription)The mortgage delinquency rate dropped to its lowest level in over 12 years, but servicers should expect an increase following the impact of Hurricane Florence, according to Black Knight.

Washington Post Writers Group, Sept. 24, 2018--Kenneth R. HarneyPrices are up, interest rates are rising, and it's tough for a lot of people to qualify to buy a home. So what do some of them do? A growing number of them fake it.

National Mortgage News, Sept. 24, 2018--Bonnie Sinnock (subscription)The return to financial stability at Fannie Mae and Freddie Mac resolves a big problem from the past, but each government-sponsored enterprise must now turn to a task that will shape its future: picking a new CEO.

Mortgage Daily, Sept. 24, 2018A major expansion planned by JPMorgan Chase & Co. in the Delaware Valley over the next few years includes plans for its mortgage business.

National Mortgage News, Sept. 21, 2018--Kate Berry (subscription)The move will align the Consumer Financial Protection Bureau with other prudential regulators that already have a regional presence in Atlanta, including the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency.

Bloomberg, Sept. 20, 2018--Hannah LevittWells Fargo & Co. plans to trim its workforce by about 5 percent to 10 percent within the next three years as Chief Executive Officer Tim Sloan works to pull the bank clear of a series of customer-abuse scandals and prop up a lagging stock price.

Wall Street Journal, Sept. 20, 2018-Katherine Clarke (subscription)Entertainers Beyoncé and Jay-Z and billionaire hedge-fund executive Ken Griffin have something in common: They are among a small but growing number of ultraluxury home buyers who are borrowing tens of millions of dollars for home purchases.

Mortgage Daily, Sept. 20, 2018FHA reported a monthly up tick in new business, though a dip will likely follow. Single-family delinquency tumbled 48 basis points.

National Mortgage Professional, Sept. 19, 2018--Phil HallTapping into home equity to keep pace with regular household expenses is being viewed as an acceptable strategy by a growing number of homeowners, according to a new study from Bankrate.com.

HousingWire, Sept. 19, 2018--Jeremiah JensenAccording to Ellie Mae's Origination Insight Report, the percentage of refinances closed went up for the first time in 2018 in August. By the end of August, refis closed increased from July's rate of 29% to 32%.

HousingWire, Sept. 19, 2018--Jessica GuerinStudent loan debt has racked up a collective $1.5 trillion bill for 44 million Americans, and it's crushing homeownership dreams, according to a recent survey by NeighborWorks America.

American Banker, Sept. 19, 2018--Neil Haggerty (subscription)A legislative proposal to create a federal standard on how firms notify customers of a data breach is prompting new preemption concerns among consumer groups and state regulators.

National Mortgage News, Sept. 18, 2018--Kate Berry (subscription)Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, said Monday that he wanted to set the record straight by reiterating that the agency is "still very much in the fair lending business."

Mortgage Daily, Sept. 18, 2018Equifax said the nation's latest book of first mortgages stands not far from the record established in 2008, when there were $9.04 trillion in first-lien loans in place.

American Banker, Sept. 18, 2018--Joseph Otting (subscription)The Comptroller of the Currency says the OCC's decision to begin accepting applications for special purpose national bank charters from fintech companies promotes innovation, gives consumers and businesses greater choice and creates economic growth and opportunity.