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The Federation of REO Certified Experts—or FORCE, for short—has appointed new leaders to its Advisory Council. Among those named were Hugh Morrow of RE/MAX Preferred in Birmingham, Alabama; Tara Nagelhout of Emerald Valley Real Estate in Eugene, Oregon; Steve Pagano of Coldwell Banker in Huntington Station, New York; Terry Rasner-Yacenda of Reno Tahoe Realty Group in Reno, Nevada; and Dick Thackston of R.H. Thackston & Company in Winchester, New Hampshire. Nancy Braun of Showcase Realty was named Chairperson.

The House will vote on the Financial CHOICE Act, a Dodd-Frank “off-ramp”, this coming Wednesday. Republicans proposed this reform to the financial system in mid-April to free the U.S. from government micromanagement when it comes to excessive regulations on the financial system. See what else will take place in the upcoming week here.

RE/MAX Holdings, Inc. announced Tuesday the immediate appointment of COO Adam Contos to RE/MAX Co-CEO sharing responsibilities with Co-Founder and now Co-CEO Dave Liniger.

Fourteen investors announced Friday that trustees accepted the settlement offer from the Plan Administrator for Lehman Brothers Holdings Inc., a global financial services firm that declared bankruptcy in 2008. The announcement is said to be an important step in resolving the Lehman RMBS claims. The settlement will payout a minimum of $2.4 billion, subject to a judges approval.

On Thursday, Federal Reserve Governor Jerome Powell went on record saying the Fed plans on reviewing some of what he believes are the more outdated rules mandated by the Dodd-Frank act. Banks’ board of directors could see a relief of some of the day to day responsibilities and concentrate more on big picture if Powell is successful. Banks may also see more transparency in the CCAR, something a majority of the industry has been requesting for years.

The Department of Labor released its May 2017 Employment Situation Friday reporting changes in household and establishment survey data. Total nonfarm payroll employment increased, however unemployment rates were fairly stagnant. Experts predict this discouraging report could mean rate hikes in 2017’s future.

The Federal Housing Finance Agency on Thursday released its third Enterprise Non-Performing Loan Sales Report, which lists all the sales of all non-performing loans from Freddie Mac and Fannie Mae to the private sector through December 31, 2016. The report tracks total loan sales, total number delinquent assents unloaded, and time of delinquency. It also strives to track borrower outcomes and measure how many properties were foreclosed on, how many avoided foreclosure, and the difference between homes that were sold to third parties and benchmark NPLs.

Median earners in the top U.S. markets are getting almost fully priced out. A new study by Redfin shows an increasing affordability gap that is even further exaggerated by ethnicity. Middle-class Hispanic and African-American buyers in several major markets, especially in the West, are close to becoming extinct.

Fannie Mae's April monthly summary was recently released showing slight growth for the month. Though temporarily, their Gross Mortgage portfolio increased at a compound annualized rate of 52.5 percent. Conversely, the Conventional Single-Family Serious Delinquency Rate decreased five basis points.

Thanks to one of REO’s biggest professional groups, the mortgage industry has taken a significant step in diversity and inclusion. The Federation of REO Certified Experts announced the launch of its Diversity Council on Wednesday, a group that aims to “advance conversations on diversity and inclusion.” The group is made up of six committees, including ones for Latino, African American, women, LGBT, veteran, and Asian REO professionals.