The Lede

The Federal Housing Finance Agency released its report 2018 Enterprise Non-Performing Loan Sales Report, showing Fannie Mae and Freddie Mac sold 117,466 NPLs with a total unpaid principal balance of $22.2 billion through Dec. 31.

ATTOM Data Solutions, Irvine, Calif., reported 56,152 foreclosure filings in May, up by 1 percent from April but down by 22 percent from a year ago. Additionally, it said completed foreclosures fell by 50 percent from a year ago.

A federal mediator on Friday said HUD and Quicken Loans Inc., Detroit, settled an acrimonious lawsuit accusing Quicken of violating the False Claims Act.

Despite a broad economic expansion following the Great Recession, lack of savings paints a disconcerting picture about financial preparedness in America, said Northwestern Mutual, Milwaukee, with nearly a third of U.S. adults within three paychecks of needing to either borrow money or skip paying one or more bills.

Institutional investors lowered their expectation for commercial real estate returns, the Pension Real Estate Association's Consensus Forecast Survey reported yesterday.

The Mortgage Bankers Association and a half-dozen other industry trade groups urged the Consumer Financial Protection Bureau to increase the threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans.

CoreLogic, Irvine, Calif., said 4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in March, an 0.3 percentage point decline from a year ago to the lowest March rate in 13 years.

National Mortgage Professional, June 17, 2019--Phil HallNew York State Attorney General Letitia James urged the Consumer Financial Protection Bureau not to adopt its recently-proposed rule that would undermine the ability to enforce fair lending laws and prevent discrimination in the mortgage lending market.

Bankrate.com, Jun 17, 2019--Natalie CampisiDespite housing starts of new homes rising in April, there continues to be a shortage of single-family units, says Joel Kan, associate vice president for industry surveys and forecasts with the Mortgage Bankers Association.

Orange County Register, June 14, 2019--Jeff LazersonInnovative mortgage industry thinkers are creating mind-boggling second lien purchase money and cash-out financing instruments that will save mortgage shoppers armored cars of cash. (MBA mention)

HousingWire, June 14, 2019--Jessica GuerinQuicken Loans Vice Chairman Bill Emerson (and former MBA chairman) said the nonbank did not admit to any guilt and that the government realized its "bogus" claims were baseless.

National Mortgage News, June 14, 2019--Edward DeMarco (subscription)Former Federal Housing Finance Agency Director says while bigger picture reform is debated, regulators should take steps today to rebalance public and private risk in the mortgage sector.

Reuters, June 14, 2019--Pete SchroederAs a U.S. Federal Reserve governor, Lael Brainard gets only one vote on proposals that come before the central bank's board. Over the past year, she has used it to combat the Trump administration's efforts to ease rules for Wall Street.

HousingWire, June 13, 2019--Jessica GuerinThe bill - H.R. 3141, "The FHA Loan Affordability Act of 2019" - would repeal FHA's policy that requires borrowers to pay mortgage insurance for the life of the loan. Instead, payments would cease when the outstanding loan balance reaches 78% of the home's original value.

American Banker, June 13, 2019--Kate Berry (subscription)The Fed's 24-page summary delves into the major concerns about reforming the Community Reinvestment Act, including updating assessment boundaries, evaluating how banks are tested, and clarifying which activities are eligible for CRA credit.

USA Today, June 13, 2019 (Editorial)The editorial asserts while the concept of allowing seniors to unlock the wealth they have in their homes is sound, the reality is that reverse mortgages add complexity and risk at a time in people's lives when they should be reducing both. "When so many such loans are going into default, it's a clear sign that something is amiss."

National Mortgage News, June 12, 2019--Paul Centopani (subscription)Commercial and multifamily mortgage debt outstanding grew 1.3% in in the first quarter of 2019, aided by low mortgage rates and the steady incline of property values, according to the Mortgage Bankers Association.

Bloomberg, June 12, 2019--Austin WeinsteinFannie Mae and Freddie Mac's chief regulator, Federal Housing Finance Agency Director Mark Calabria, is calling on Congress to pass housing-finance reform legislation that sets a path to return the companies to private hands.

American Banker, June 12, 2019--Neil Haggerty (subscription)The House Financial Services Committee was poised Wednesday to approve a bill reforming the National Flood Insurance Program, with key members of both parties voicing their support.

American Banker, June 11, 2019--Hannah Lang (subscription)The Consumer Financial Protection Bureau will hold its first symposium June 25 in a series designed to provide dialogue on consumer protections, featuring two panel discussions on the definition of "abusive" under the Dodd-Frank Act.

National Mortgage News, June 11, 2019--Brad Finkelstein (subscription)Prepayment speeds for loans included in agency mortgage-backed securities were up approximately 20% both monthly and annually during May as the decline in interest rates boosted activity, a report from Keefe, Bruyette & Woods said.

Wall Street Journal, June 12, 2019--Ryan Dezember (subscription)The investment house known for corporate takeovers has agreed to pump another $250 million into Toorak Capital Partners LLC, which buys short-term loans made to real-estate investors who purchase, renovate and resell residential properties.