Floods are the main driver of climate-related foreclosures, according to First Street. The firm said lenders consider climate as a risk factor.

FHFA Director Bill Pulte sees himself as an advocate for the housing market. He said FHFA is working to increase the number of homes for sale. Details were scant on the effort and on potential GSE shifts.

The bill includes planned extensions of several measures from the 2017 tax reform, and an extension of the mortgage interest deduction.

MBA is largely happy with changes made so far by the Trump administration. Bob Broeksmit, president and CEO of the MBA, said the administration is creating certainty, clarity and stability for mortgage companies.

The move will have an impact on current mortgage servicing operations, according to industry attorneys.

Non-QM lender/servicer Acra is in the hunt for a new CEO. Other changes may be in the offing too — as the sale of Acra’s parent, HPS, to BlackRock draws closer.

The federal deficit is putting upward pressure on mortgage rates. Meanwhile, HUD is working to allow new housing to be built on federal land.

Incenter, one of the granddaddies of the servicing brokerage business, has a new owner: tech shop Rocktop of Irving, TX.

VA partial claims bill passes in House; nominee for FHA commissioner expected to have industry experience; Pulte touts big find at Fannie.

In the current interest rate environment, homebuilders seem to favor offering mortgage buydowns rather than reducing prices. Officials at mortgage companies fear the buydown activity is inflating home prices.