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Open commentary on everything impacting the U.S. housing economy. The opinions expressed here represent the author's alone.

Monday Morning Cup of Coffee: Fed moves to sell massive mortgage debts

Markets not expected to panic
In the wake of the financial crisis, the Federal Reserve bought significant amounts of mortgage debt to keep the secondary capital markets liquid. The Fed will soon stop buying such debt next year, while at the same time reducing its MBS holdings, hopefully in a market-orderly fashion. But we’ll see. All that and more, in your Monday Morning Cup of Coffee.
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Bring visibility to credit invisibles through alternative financial data

A clear opportunity for lenders to capitalize on
[Expert commentary] In today’s environment, loans are not as accessible to a growing number of Americans given a lack of sufficient, traditional credit history. This group is made up of millennials, low-income individuals, recent immigrants and mass-affluent individuals. There is a clear opportunity for lenders to capitalize on the opportunity to identify credit invisible consumers who have no credit score, but are still credit worthy.
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Eager to please, did SoFi close early mortgages without appraisals?

Fast Company publishes article with explosive claims
[Opinion] There are many advantages to having a Silicon Valley competitive vibe in the mortgage market. For one, the start-ups help keep us on our toes. Another interesting aspect is the use of fintech to disrupt our mortgage lending industry. While there are many advantages, having SoFi around probably isn’t one of them, if their underwriting standards are as bad as some claim.
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[Video] Here's everything you need to know about the Equifax security breach

143 million consumers impacted
The story continues to develop on the massive security breach at Equifax, one of the nation’s three largest credit reporting agencies. Last Thursday, the credit bureau revealed it was the victim of a “cybersecurity incident” that potentially impacts as many as 143 million U.S. consumers. As the story unfolds, HousingWire created the following video to give you a quick digest of everything you need to know.
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Finance industry promises to #neverforget 9/11 attacks

Today, we remember
Today, we remember those whose lives ended all-too soon 16 years ago. We remember the victims, the first responders, the heroes and the family and friends left behind. The housing finance industry stands together in solemn remembrance of the lives lost on that day, saying as Americans, we will never forget.
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Monday Morning Cup of Coffee: Is Equifax telling the wrong people they were hacked?

Tensions rise between the CFPB and the Department of Education
Last week's Equifax security breach impacted a jaw-dropping 143 million U.S. consumers. And to make matters worse, the website the credit bureau set up for consumers to see if their personal information was impacted by the breach, may just be haphazardly telling consumers they were impacted when they weren't. Meanwhile, there’s trouble in Washington for the Consumer Financial Protection Bureau, as the Department of Education announced it wants to cut ties with the bureau.
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Equifax is the worst data breach ever and its punishment should fit the crime

This is far worse than Yahoo, Target, Home Depot, or anything else
[Opinion] By sheer numbers, Equifax's data breach, which exposed the personal information of 143 million consumers, isn’t the biggest data breach in history. Yahoo takes the catastrophic crown in that category. While this may not be the biggest data breach ever, it is the worst. Worse than Yahoo, worse than Target, worse than Home Depot, worse than Experian, or anything else – and Equifax's punishment should fit the crime.
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Does your mortgage technology measure up?

Tips on how to choose and adopt the right vendor
[Expert commentary] Today’s consumers are accustomed to making instant banking transactions and home searches from the palms of their hands, and they expect this kind of ease of use across industries. Ultimately, the best lenders are those who will bring greater transparency to the borrower, which often requires the adoption of new technology as it comes available. Here are different categories of technology every lender should be using and key considerations in choosing and adopting the right vendor.
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Wells Fargo's latest fake account revelation proves why the CFPB must survive

Republicans want less financial regulation, but they're wrong
[Op-Ed] Wells Fargo’s latest revelation is the straw that broke my back. I’ve talked to enough people who work in the housing business to know that the CFPB made their lives much harder. I get why they hate the CFPB. I really do. But, I can’t just sit back and watch all of the financial regulation borne out of the financial crisis get undone. Situations like Wells Fargo show why the CFPB must exist.
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Mortgage industry unites together to support Hurricane Harvey relief

From buying a shirt to sending money, here’s how you can help
As one of biggest industries that touches nearly everyone in America, the housing industry quickly assembled together to give back to those impacted by Hurricane Harvey. Here is a handful of ways the industry is donating to help in the relief, along with ways you as a reader can help.
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