First American’s Loan Application Defect Index for May 2017 was released Wednesday and the findings show levels unseen since 2015. Several southern markets are said to be in the process of destruction.

When it comes to regulatory reform, smaller community banks should be a prime concern, according to Acting Comptroller of the Currency Keith A. Noreika. Noreika said as much in his address of the Senate Committee on Banking, Housing, and Urban Affairs on Thursday. He also laid out several steps lawmakers can take to lower barriers of entry and expand opportunities for community banks across the country.

A bill by Representative Tom Emmer (R-Min) that would increase the reporting threshold under the Home Mortgage Disclosure Act for open-end lines of credit and closed-end mortgages was introduced Tuesday. This isn’t the first legislation of its kind; several are urging CFPB to provide exemptions from its rules. Many of these requirements will be rolled out after the first of 2018. See what Representative Tom Emmer and Congressman Blaine Luetkemeyer have in mind.

We are pleased to announce that the American Mortgage Diversity Council (AMDC) welcomes a new member, National MI.

According to a recent report, May delinquencies saw a reversal in performance compared to last month. Record highs were hit in prepayments, which also indicate refinance activity. See what state only has 2.12 percent of borrowers past due on their mortgage.

OrangeGrid, a provider of highly configurable business process workflow solutions to the financial services industry, announced that Barry Owens, a seasoned professional with nearly three decades industry experience, has joined its growing team as VP of business development.

Vendor Resource Management, Inc. announced that the U.S. Department of Veterans Affairs has awarded the company with a 10-year contract for program management, marketing, and other real estate services on the VA’s portfolio of sing-family residential real estate. Headquartered in Carrollton, Texas, VRM is a nationwide financial services solution and REO services company helping lenders, servicers, investors and government agencies increase compliance, reduce operational and reputational risk, decrease loss severity and improve origination and servicing returns.

Freddie Mac announced Tuesday it has had its second Freddie Mac Seasoned Loan Transaction (SLST) via auction of 1,262 seasoned re-performing loans (RPL) and moderate delinquent loans serviced by Select Portfolio Servicing, Inc. Through its advisors, Freddie Mac began marketing the transaction to potential bidders May 17, 2017, and is expected to settle in July 2017. The winning bidder, Towd Point Master Funding, LLC, was followed by a bid in the high $70s.

As real estate agents say, “location, location, location”—and that means if you’re located near a Whole Foods or Trader Joe’s, according to research. After studying the areas both before and after the stores were built, researchers found neighborhoods that previously were appreciating at normal or below normal levels started appreciating rapidly after opening. Either they know how to pick neighborhoods, or people truly love to live near Whole Foods and Trader Joe’s.

There are many factors that have affected homeownership rates after the 2008 financial crisis— specifically in regards to young adult social norms and changes in the housing market. The homeownership rate among 25- to 44-year olds has dropped 10 percent in the last decade and recent research shows this could be increased with closing the interracial gap in education and wealth. This research falls in line with statistics on diversity found in the corporate world.