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Author Archives: Ashley Harris

Ashley R. Harris is the Editor-in-Chief for MReport and TheMReport.com and the acting Editor-in-Chief of DS News and DSNews.com. Ashley has years of experience as a financial writer having worked at The Houston Chronicle and Newsweek. She received her B.S. in journalism from the University of Houston and her M.S. in journalism from Columbia University School of Journalism.

Malibu Ranked Most Expensive Market, Cleveland Most Affordable

A comparison of four-bedroom, two-bathroom homes in more than 1,900 markets shows Malibu is the most expensive city in the country. According to Coldwell Banker Real Estate, a sample home in the beachside city lists for $2.15 million. On the other hand, a comparable dwelling in Cleveland, Ohio, runs about $63,729, making it the most affordable market in Coldwell's report. According to the firm's findings, there are 20 markets where a four-bed/two-bath residence lists for more than $1 million and eight where they go for less than $100,000.

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CFPB Makes Plans to Act on Debt Collection Practices

CFPB

The Consumer Financial Protection Bureau (CFPB) issued Wednesday an Advance Notice of Proposed Rulemaking on guidelines related to the debt collection industry. "For decades, many consumers have reported various unacceptable practices in the debt collection industry. Today's action will allow us to hear from the public as we consider what rules are needed," said Richard Cordray, director of the CFPB. The bureau also announced it will begin adding consumer complaints about debt collections to its public database.

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Fannie, Freddie Directed to Restrict Force-Placed Insurance Practices

Citing concerns about the costs of force-placed insurance for the GSEs and consumers alike, the Federal Housing Finance Agency (FHFA) on Tuesday directed Fannie Mae and Freddie Mac to prohibit servicers from taking reimbursements from insurers providing forced policies. Fannie Mae and Freddie Mac will provide aligned guidance to sellers and servicers to prohibit these practices, including implementation schedules. In addition, acting FHFA director Edward DeMarco announced the agency is considering further measures.

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Investors Continue Flocking Toward Ripening Markets

Single-family homes, condominiums, and townhomes sold at an annualized rate of 5.7 million in September, according to numbers from RealtyTrac. September's figures were up 2 percent month-over-month and 14 percent year-over-year, with investors making the biggest impact, particularly in markets where prices have yet to cross the $200,000 mark. "The housing market continues to skew in favor of investors, particularly deep-pocketed institutional investors, and other buyers paying with cash," said Daren Blomquist, vice president at RealtyTrac.

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WL Ross Vice Chair Talks Shop on GSEs and Housing Lessons

James B. Lockhart III, vice chairman of WL Ross & Co. and former director of the Federal Housing Finance Agency, addressed a packed house at the inaugural Investment Symposium at the 10th Annual Five Star Conference and Expo. Lockhart's speech wound through many of today's biggest topics, including the current movement to dissolve the GSEs. He also praised Federal Reserve chair Ben Bernanke's leadership during the crisis, saying Bernanke's efforts to move the economy have been largely successful.

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