The Lede

The refinance mini-boom has been good news for lenders; it's also been good news in deterring mortgage defects and fraud, according to First American Financial Corp., Santa Ana, Calif.

ATTOM Data Solutions, Irvine, Calif., said in "opportunity zones"--special areas of the U.S. aimed at spurring improvement and development-nearly half of homes have median home prices below $150,000.

Black Knight, Jacksonville, Fla., said after falling through the second half of last year, tappable equity saw its second consecutive quarterly increase, hitting a record high $6.3 trillion in the second quarter.

Fitch Ratings, New York, reported the volume of commercial mortgage-backed securities loans and assets in special servicing declined nearly 10 percent between April and July to $9.8 billion.

MReport, Sept. 1, 2019--Brian O'ReillyWhile the public debate has often envisioned and emphasized the need for legislative action, that avenue has been, and continues to be, an uphill battle in an unprecedented partisan political landscape. Still, stable growth in the housing market, strong employment, and the potential for rising interest rates point to the increasing need to establish a "new normal" for housing finance. (MBA mention)

MReport, Aug. 30, 2019--Seth WelbornMortgage debt is at an all time high as home prices rise to record levels, according to a report from HowMuch.net.

Wall Street Journal, Aug. 30, 2019--Ben Eisen (subscription)"Contracts for deed," prone to abuse, are often only choice for buyers shut out of mortgage market.

American Banker, Aug. 29, 2019--Hannah Lang (free article) The mortgage industry will be looking for answers when the Trump administration unveils its plans to shake up the housing finance system and end the conservatorships of Fannie Mae and Freddie Mac. But the blueprints could raise just as many questions. (MBA mention)

HousingWire, Aug. 29, 2019--Kelsey RamirezLenders reported making a profit on mortgages in the second quarter. In fact, according to a report released Thursday by the Mortgage Bankers Association, lenders made the highest profit per loan they've seen since 2016.

Wall Street Journal, Aug. 30, 2019--David Harrison, Maureen Linke (subscription)The decadelong economic expansion has showered the U.S. with staggering new wealth driven by a booming stock market and rising house prices. But that windfall has passed by many Americans.

Reuters, Aug. 29, 2019--Jonathan StempelMichael Hild, 44, who was also Live Well's chief executive, generated more than $24 million of compensation tied to the scheme, which ran from September 2015 to May 2019, according to federal prosecutors in Manhattan who announced the charges.

National Mortgage News, Aug. 29, 2019 (subscription)Federal bankruptcy Judge James Garrity Jr. rejected the plan after two days of hearing evidence and arguments earlier this month from lawyers for Ditech and a consumer creditor committee. The committee asserted the company shouldn't be able to sell its businesses if it meant wiping out the ability of homeowners to correct what they say are errors related to their loans.

CNBC, Aug. 28, 2019Robert Broeksmit, CMB, Mortgage Bankers Association President and CEO, joins "Squawk on the Street" to discuss the wave of mortgage refinancing as rates fall.

CNBC, Aug. 28, 2019--Diana Olick"Savings have increased significantly since before the Great Recession, so the household balance sheet is just in a better position," said Bob Broeksmit, president and CEO of the Mortgage Bankers Association. "Perhaps the need to tap that equity is a little bit lower and there is a little bit more discipline among consumers."

Wall Street Journal, Aug. 29, 2019--Lalita Clozel (subscription)Asset-depletion loans, also known as asset-dissipation loans, are part of a small but growing subset of the mortgage market that includes subprime loans and other riskier products. They assume borrowers draw from assets to cover a mortgage, rather than just income.

American Banker, Aug. 28, 2019--Kate Berry (subscription)Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB's 43% debt-to-income limit as part of its qualified mortgage rule.

Wall Street Journal, Aug. 27, 2019--Yuka Hayashi (subscription)The Consumer Financial Protection Bureau is looking for workers again, following departures during a hiring freeze and budget cuts by Trump administration officials that took over the agency in late 2017.

National Mortgage Professional, Aug. 27, 2019--Phil HallA new survey conducted by MagnifyMoney has found more than half of homeowners are making an early withdrawal into their retirement savings funds to pay down housing and personal debt.

HousingWire, Aug. 27, 2019--Kathleen HowleyThe share of first-time homebuyers using conventional mortgages that require private mortgage insurance, or PMI, to compensate for low down payments increased in the second quarter while the use of FHA loans fell, said Genworth.