News Flash

The Consumer Financial Protection Bureau (CFPB) announced a modification of regulations on the Equal Credit Opportunity Act (ECOA)
MBA White Paper Considers Changes to CFPB Operating Procedures
The Mortgage Bankers Association (MBA) is considering the future of the Consumer Financial Protection Bureau (CFPB) with a new white paper titled “CFPB 2.0: Advancing Consumer Protection,” which was prepared for the trade group by the law... Read more
President Trump has nominated Brian D. Montgomery to become an Assistant Secretary of the Department of Housing and Urban Development (HUD) and commissioner of the Federal Housing Administration (FHA)
Brian D. Montgomery Tapped to Return as FHA Chief
President Trump has nominated Brian D. Montgomery to become an Assistant Secretary of the Department of Housing and Urban Development (HUD) and commissioner of the Federal Housing Administration (FHA), a position that he held from 2005 to... Read more
Plaza Home Mortgage Raises $50,000-Plus for Red Cross Hurricane Relief
Plaza Home Mortgage Raises $50,000-Plus for Red Cross Hurricane Relief
The devastation in and around the city of Houston made a lasting impact on Plaza Home Mortgage associates. In an effort to provide assistance to those affected by Hurricane Harvey, Plaza associates nationwide raised just under $25,000,... Read more
The median monthly rent for single-family homes is rising faster than the median monthly rent for apartments, according to new data from Zillow
Median Rents Higher in Single-Family Homes
The median monthly rent for single-family homes is rising faster than the median monthly rent for apartments, according to new data from Zillow.   Zillow reported that the median rent for houses rose 1.3 percent annually to a monthly rent... Read more
The national foreclosure inventory rate reached its lowest point in nearly a decade, according to new data from CoreLogic
Foreclosure Levels Continue to Fall
The national foreclosure inventory rate reached its lowest point in nearly a decade, according to new data from CoreLogic.   During June, 4.5 percent of mortgages were in some stage of delinquency, down 0.8 percent from one year earlier.... Read more
Mortgage applications for new home purchases in August rose by seven percent from July and were up 6.8 percent compared to August 2016
New Home Purchase Mortgage Applications Up in August
Mortgage applications for new home purchases in August rose by seven percent from July and were up 6.8 percent compared to August 2016, according to the latest Mortgage Bankers Association (MBA) Builder Application Survey.   The average... Read more
The next 12 months should see a flattening in commercial real estate price growth
NAR: Commercial Real Estate Price Growth to Weaken
The next 12 months should see a flattening in commercial real estate price growth, although leasing and investor demand should keep the sector steady, according to a new forecast from the National Association of Realtors (NAR).   Looking... Read more
The U.S. Department of Justice has filed a civil complaint in federal court against Paul Mangion
Former Deutsche Bank Exec Accused of RMBS Fraud
The U.S. Department of Justice has filed a civil complaint in federal court against Paul Mangione, former Deutsche Bank Head of Sub-prime Trading, alleging that Mangione misrepresented the characteristics of loans backing two pre-recession... Read more
The Mortgage Credit Availability Index (MCAI) inched up by 0.7 percent 180.2 in August
Credit Availability Up Slightly While Rates Drop
The Mortgage Credit Availability Index (MCAI) inched up by 0.7 percent 180.2 in August, according to new data from the Mortgage Bankers Association. All four component indices were up last month: The Conforming MCAI by 1.6 percent, the... Read more
Purchase lending during the second quarter reached its highest level since 2007 while the refinancing share of the market dropped to a 16-year low, according to new data from Black Knight Financial Services (BKFS)
Q2 Purchase Lending Hits 10-Year High
Purchase lending during the second quarter reached its highest level since 2007 while the refinancing share of the market dropped to a 16-year low, according to new data from Black Knight Financial Services (BKFS).   The second quarter saw... Read more