The Lede

The Consumer Financial Protection Bureau yesterday published a notice on how it plans to periodically review regulations under the Regulatory Flexibility Act and to request public input.

ATTOM Data Solutions, Irvine, Calif., said more than 5.2 million U.S. properties remained seriously underwater at the end of the first quarter, up by more than 17,000 properties from a year ago.

The Consumer Financial Protection Bureau yesterday issued a Notice of Proposed Rulemaking to implement the Fair Debt Collection Practices Act.

The Mortgage Bankers Association's grassroots advocacy arm, the Mortgage Action Alliance, issued a Call to Action yesterday urging support of legislation that would improve mortgage access for the self-employed, gig workers and other non-traditional borrowers.

The commercial mortgage-backed securities delinquency rate fell six basis points to 2.82 percent in April, the lowest delinquency reading since the 2008 financial crisis.

HousingWire, May 13, 2019--Jessica GuerinOn Monday, Flagstar Bancorp revealed in a Securities and Exchange Commission filing that Live Well owes the bank $74 million, which includes $5 million in a warehouse line of credit.

HousingWire, May 13, 2019--Jessica GuerinIn a unanimous decision, judges in the 11th Circuit Court of Appeals revived part of a Florida condo owner's claims against Nationstar, accusing the servicer of ripping off borrowers by unnecessarily placing flood insurance on their properties for which they were charged thousands of dollars.

Mortgage Media, May 13, 2019--David Stevens, CMBFormer MBA President and CEO says the Administration's renewed interest in resolving conservatorship of Fannie Mae and Freddie Mac could result in "downside risks" to the real estate finance industry.

American Banker, May 12, 2019--Kate Berry (subscription)In the wake of the massive data breach at Equifax, it was not surprising that financial consumer complaints sent to the Consumer Financial Protection Bureau shot up by nearly a quarter in 2017. But last year, complaints kept climbing.

Wall Street Journal, May 13, 2019--Ben Eisen (subscription)The gatekeepers of the American mortgage market are increasingly backing loans to borrowers who have heavy debt loads, highlighting questions about mortgage risk as policy makers debate ways to change the system.

HousingWire, May 10, 2019--Ben LaneAs part of its first quarter earnings release, Equifax CEO Mark Begor disclosed that the company set aside $690 million during the first quarter that includes the losses it expects to take in connection with a "potential global resolution of the consumer class action cases and the investigations by certain federal and state regulators."

National Mortgage News, May 10, 2019--Paul Centopani (subscription)The Government Accountability Office called on Ginnie Mae to undertake four reforms to its operations, citing concerns regarding the ongoing shift in size and capitalization of mortgage-backed securities issuers.

National Mortgage News, May 10, 2019--Bonnie Sinnock (subscription)Lower rates hurt the value of Impac Mortgage Holdings' servicing rights and overall earnings in the first quarter, but they could help improve the company's second-quarter results.

National Mortgage News, May 9, 2019--Bonnie Sinnock (subscription)Ocwen Financial and Fidelity Information Services entered into a settlement agreement over allegations involving a regulatory compliance audit the West Palm Beach, Fla.-based servicer was required to pay for.

Wall Street Journal, May 9, 2019--Erin Ailworth (subscription)As emergency managers prepare for hurricane and wildfire seasons, they say growing development and higher population in vulnerable areas will likely amplify the damage and devastation.

National Mortgage Professional, May 9, 2019--Phil HallA new effort is underway on Capitol Hill to reintroduce the Data Breach Prevention and Compensation Act, which is designed to create a new level of accountability for large credit reporting agencies that were hit with data breaches involving consumer data.

National Mortgage News, May 9, 2019--Hannah Lang (subscription)The financial services industry welcomed a proposed overhaul of how the Federal Housing Administration identifies False Claims Act violations, but some observers say it remains to be seen if the changes will lure mortgage lenders back to the FHA.

Bloomberg, May 8, 2019--Christopher MaloneyMortgage investors' concern about prepayment speeds may increase as a renewed U.S. rate rally helps push the U.S. MBS index duration down to its lowest level since March.

American Banker, May 8, 2019--Kate Berry (subscription)Wells Fargo has created an operations unit designed to focus exclusively on meeting demands of regulators who have expressed dissatisfaction with the bank's progress after a series of scandals.

National Mortgage News, May 8, 2019--Bonnie Sinnock (subscription)Investors can now exchange certain existing Freddie Mac bonds for to-be-announced uniform mortgage-backed securities in preparation for the full launch of UMBS next month.

Mortgage Compliance, May 2019--James BrodyIn March, Fannie Mae issued a policy stating it will continue to purchase and securitize mortgages for non-U.S. citizen borrowers who are lawful permanent residents under the Deferred Action for Childhood Arrivals program; Pete Mills of the Mortgage Bankers Association says FHA should follow the same policy.

HousingWire, May 7, 2019--Ben LaneIf a handful of Republicans in the Senate have their way, the Consumer Financial Protection Bureau will not exist for much longer, as for at least the third time in the last few years, Republicans are trying to kill the CFPB.

Wall Street Journal, May 7, 2019--Esther Fung (subscription)Global retailers once seemed to pay whatever it took to lease space on Manhattan's Fifth Avenue. That doesn't appear to be the case anymore.

National Mortgage News, May 7, 2019--Brad Finkelstein (subscription)Lower interest rates caused mortgage serving rights runoff plus a charge to the fair value of that portfolio and led to Ocwen Financial posting a first-quarter loss.