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Nationwide Title Clearing announced that Dave LaRose will volunteer to support the Mortgage Bankers Association's Mortgage Industry Standards Maintenance Organization as it works to create a mortgage industry Business Glossary. MISMO announced plans to create the glossary earlier this year and called for industry volunteers to support the effort.

ClosingCorp announced the release of SmartEngine which will help title companies centralize data processing and connect their rate and fee data to any third-party system, including title production systems, websites and ClosingCorp’s SmartFees, and SmartCalc products to reliably exchange information to produce estimates.

The U.S. Treasury Department could finally be getting a new Deputy Secretary in the near future according to three sources inside the department. Brian Brooks, General Counsel, EVP, and Corporate Secretary for Fannie Mae, is said to be filling the position. Goldman Sachs Executive Jim Donovan was previous in line for the vacancy, but recently withdrew.

Federal Open Market Committee is set to finish its June meeting on Wednesday and it is widely expected that they will raise interest rates in order to keep the economy stabilized, even though inflation remains around 2 percent. In May, when they last met, members of the board chose to keep interest rates at their current level. Will this mean anything for mortgage interest rates? One expert believes it might not impact the mortgage market at all.

Deregulation is on the horizon according to the U.S. Department of the Treasury’s Monday report. While some avidly oppose the change, many see it as a positive adjustment for banks, consumers, and the economy. Whether the changes will destroy the economy or create long-term stability, the Treasury and Administration said it will forge ahead to its next steps working with congress to change statutes, regulations, and supervisory guidance.

On Tuesday the May Quicken Loans National Home Price Perception Index and National Home Value Index was released, showing that while home prices continue to rise, they are not rising as fast as homeowners expect. There are, however, cities, such as Denver, Dallas, and Seattle, where appraisals are higher than what homeowners expect. Philadelphia, Baltimore and Chicago had the largest disparity between appraisals and homeowner expectations.

Overall mortgage delinquency rates were down in the month March, according to a recent report. Most rates were at a position lower than what they have been in over 10 years, but early-stage delinquencies saw a 17 year low. According to the report, this can be attributed to stringent post-crisis underwriting standards as well as better fundamentals.

Recently, the April 2017 Consumer Credit report was released, revealing all of the outstanding credit extended to individuals for household, family, and other personal expenses, excluding loans and real estate for the past month. April marked the smallest increase in consumer borrowing in six years. The Federal Reserve reported total consumer credit rising 2.6 percent, increasing the $8.2 billion in April compared to March’s revised $19.5 billion.

Although some recent reports are saying that homeownership is struggling, newer “super low down” loans are beginning to become more popular with millennials. It is estimated that, on average, it takes young people nearly a decade to save for a traditional 20 percent downpayment. In response, some lenders are implementing 3 percent equity mortgages.

ValuAmerica of Clayton Holdings LLC announced that it has acquired ValuEscrow, Inc., expanding its closing and escrow operations.