Just as we’re looking at peeling back regulations like Dodd-Frank with last weeks CHOICE Act vote, a recent op-ed asked the provoking question “Does anyone remember how to make a subprime mortgage?” Of course, those in the mortgage industry remember well. Though they have dwindled in recent years, due to many blaming the 2008 crash in part on the mortgages, thoughts of honing in on an untapped market are gaining popularity again.

Recently, the April 2017 Consumer Credit report was released, revealing total consumer credit rising 2.6 percent. April marked the smallest increase in consumer borrowing in six years. Revolving and nonrevolving to household, family, and personal expense credit was covered.

U.S. homeownership rates have been at a 50-year low despite improving local job markets and historically low mortgage rates. A recent report said there are five main barriers preventing a large number of individuals from purchasing a home: post-foreclosure stress disorder, mortgage availability, the growing burden of student loan debt, single-family housing affordability, and single-family housing supply shortages. Industry professionals explain what needs to be done in order to reverse the problems at hand.

Recent data shows that millennial and Generation X homebuyers who are purchasing with a significant other disagree much more if they’ve been together less than five years. The survey found that gender and location also effected the choice of millennial and Gen-X buyers. The level of debt to take on came in first of disagreements among couple homebuyers.

The Financial CHOICE Act, originally introduced on April 26, 2017 by Representative Jeb Hensarling (R-Texas), Chairman of the House Financial Service Committee, passed the House of Representatives on Wednesday. The CHOICE Act is the Republican response to reforms put in place after the 2008 economic collapse. The bill significantly amends the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.

The House of Representatives is set to vote on the Financial Choice Act (H.R. 10) Thursday. The Congressional Budget Office (CBO) reported that the estimated federal deficits for the amended bill will be higher than originally estimated on May 4, 2017. Changes in direct spending and revenues would reduce federal deficits by $24.1 billion over the 2017-2027 period.

Monday Pamela Patenaude appeared before the Senate Committee on Banking, Housing, and Urban Affairs for her nomination hearing for Deputy Secretary of the Department of Housing and Urban Development. Patenaude believes her history as the Assistant Deputy will set her up well for this position, if confirmed. The rumors of the intent to nominate Joseph Otting for the Comptroller of the Currency were also confirmed recently in a statement from President Trump.

For four months, the Department of the Treasury, GSEs, and Federal Housing Finance Agency have been in disagreement with Fannie and Freddie investors on where profits should be directed. Though the D.C. Circuit affirmed a lower court’s ruling that actions taken under the FHFA’s conservatorship of the GSEs cannot be challenged in court, the shareholders are now taking matters to the full D.C. Circuit for a rehearing. The FHFA and Treasury are now urging the D.C. Circuit not to modify its original ruling.

A Home Price Index (HPI) and HPI Forecast for April 2017 was released Tuesday showing home prices up both in year-over-year and month-over-month. Increased buying activity was paired with low mortgage rates, which were at their lowest since November 2016. Forecast data show more increases to come in 2018.

Ocwen Financial Corporation sued the Consumer Financial Protection Bureau in late April claiming Ocwen had failed borrowers in every stage of the mortgage servicing process. Though the two went back and forth about getting the ruling on the CFPB’s constitutionality expedited, ultimately the request was denied. Ocwen's bid to test the constitutionality of the CFPB has now been delayed.