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With the increasing popularity of mortgage insurance, a 20 percent downpayment may not be status quo anymore for those looking to become homeowners. First-time homebuyers account for nearly half of total homes purchased in the first quarter of 2017, a number that is expected to rise. They are also exploring other options to obtain homes.

After nearly a month of marketing, Fannie Mae has sold off more nonperforming loans totaling $581 million in unpaid principal balance. This is the company’s 10th nonperforming loan sale to date. In a continued effort to reduce the number of delinquent loans in its portfolio, the lender has unloaded about 3,400 notes.

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.

LoanCare announced that Adam Saab has assumed the role of EVP and COO. Saab had previously held the position of SVP at PNC Mortgage where he was responsible for core servicing for all mortgage and consumer products for the bank, as well as for the home lending integration as PNC combined the mortgage and home equity products onto the Black Knight MSP platform.

U.S. Real Estate Services, Inc. (USRES) announced Monday that Tiffany Malm-Ruiz has joined the USRES Management team. Malm-Ruiz will be responsible for the oversight and management of the REO Division alongside Gene Shibata, REO Supervisor, and is in charge with REO client relations, compliance adherence benchmarking, procedural analysis/audit, policy review/analysis, and other managerial responsibilities. Her experience boasts a broad understanding of mortgage servicing, operations, and vendor and asset management.

JPMorgan Chase COO Matthew Zames will be stepping down from his role after 13 years, the bank announced on Thursday. Zames had a crucial role in guiding the bank during the financial crisis and is credited with raising suspicion over Bernie Madoff a year before his eventual arrest. Zames has long been assumed as a potential successor to Dimon, and the news of his stepping down has led to much speculation of who else may be in the running . . .

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 2017 Housing Budget appeared in front of the U.S. House of Representatives Appropriations Subcommittee Thursday morning and was met with strong words from its members. While defending the proposal, Secretary Carson remained poised, articulate, and open as he fielded questions and concerns. He went on to say that the playbook needed to be changed because, “the pie is only so big.”

It could be a great time to invest in rental properties, according to a recent report that measures the ratio of wealth accumulated through home equity versus the ratio of wealth accumulated through renting. Eight cities listed in the 20-City Composite favor renting, while eight favor buying. Four major metro areas could sway in either direction at the end of Q2.

The Consumer Financial Protection Bureau announced Wednesday that they found a Chicago-based mortgage servicer in violation of federally mandated rules, and subsequently ordered restitution payments and system changes. The investigation found the mortgage servicer did not provide ample information about foreclosure relief options. Restitution requirements come in the form of a fine and procedural changes.