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Congress Hitting the Ground Running

After the summer recess, Congress is back to work on an agenda that will impact the mortgage and banking industries, including confirmation votes for the Comptroller of the Currency, a key Federal Reserve position, and Harvey relief, which could potentially be tied to an increase in the debt ceiling.

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Update: Hurricane Harvey and Flood Insurance

Hurricane Harvey has been hovering over southeast Texas, dropping record amounts of rain on Houston and the surrounding area. A new report shows that there are a number of properties in risk of flooding that are outside the Special Flood Hazard Areas, meaning flood insurance isn’t a requirement for those with federally insured mortgages.

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Home Prices Surge . . . but Why?

Home prices spiked again, according to the May 2017 Existing Home Sales Index. Total unsold inventory saw a slight uptick compared to April 2017, but is still relatively low, and median home prices are continuing to rise. Seasonally adjusted, there were 5.62 million existing homes for sale, a small increase from April 2017, but how long will this trend sustain itself?

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