According to former Representative Barney Frank (D-Mass), the elimination of the Consumer Financial Protection Bureau would be “very unpopular.” Rather than eliminate the bureau, he hopes that for legislation will be introduced to make minor changes to Dodd-Frank "that make it easier for the smaller and middle-sized banks without weakening the rules against great losses that people can't deal with."

The National Association of Home Builders (NAHB) and Wells Fargo reported a solid market for new single-family homes in the April NAHB/Wells Fargo Housing Market Index (HMI). NAHB reports that there is a continuing demand for home construction, although builders have faced several challenges such as high regulatory costs and increasing material prices.

In the wake of President Trump’s proposed cuts to the Department of Housing and Urban Deployment (HUD), including the complete elimination of funding to the Community Development Block Grant (CDBG), U.S. Senator Kirsten Gillibrand (D-NY), along with 41 other senators, urged federal appropriators to put $3.3 billion in federal funding toward the (CDBG). HUD Secretary Ben Carson had previously stated that the CDBG would continue, but under a different name.

Credit Plus, a provider of intelligent insight for mortgage professionals, announced today its credit reports are available through Ellie Mae’s point-of-sale solution, Encompass Consumer Connect, an extension of their Encompass all-in-one mortgage management solution. The integration allows Encompass Consumer Connect users to verify and share their credit reports with lenders.

The 2017 Servicer Success scorecard is a part of Freddie Mac’s Servicing Success Program, which offers analysis of servicer performance through defined metrics, benchmarks, requirements, financial incentives, and compensatory fees. The Scorecard offers metrics for both default management and investor reporting, and releases at the end of every month. New reports in the scorecard include a Rank Improvement Report and a 12-Month Rolling Scorecard Summary.

“For seven years now, the Dodd-Frank Act has stifled the American Dream—for half of the country,” said U.S. Representative David Kustoff (R-TN) in an opinion piece on CNBC. According to Kustoff, Dodd-Frank requires rolling back, and it has caused plenty of harm since then. Though it saved plenty of big banks during the recession, its regulation has stifled many smaller banks.

During the recent meeting of the National Mortgage Servicing Association, Ray Barbone was installed as Chairman of the organization. Barbone, EVP of Mortgage Services at BankUnited will be taking the place of J.K. Huey, SVP of Lending Asset Management and Preservation at Wells Fargo.

Dart Appraisal, an independent appraisal management company, recently announced its collaboration with HouseCanary, a San Francisco-based real estate data analytics company. Through this collaboration, Dart Appraisal will offer a new valuation product to its lender clients.

In fall of 2015, the CFPB introduced new data reporting requirements which are set to take effect next year under the 1974 Home Mortgage Disclosure Act (HMDA), updating existing rules which will make lenders provide information on property value, the terms of the loan, the term of prepayment penalties and the duration of teaser or introductory interest rates. However, the increased amount of data which the CFPB requires lenders to report has led increased complications.

Fannie Mae announced the results of its second reporforming loan sale transaction. The deal was previously announced on March 14, and consisted of 7,600 loans totaling $1.65 billion in unpaid principal balance (UPB). All four loan pool were won by DLJ Mortgage Capital, Inc., and the transaction is expected to close on May 25.