The U.S. Supreme Court ruled on Thursday by a 5-4 vote in the case of Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. that disparate impact claims can legally be brought about under the Fair Housing Act of 1968.
Read More »Over Half of States are in ‘Stable’ Housing Market Range
More than half of the states plus the District of Columbia, along with more than a third of the nation's largest metro areas, were categorized as in the "stable" range in April on the strength of a healthy spring homebuying season, according to Freddie Mac's April 2015 Multi-Indicator Market Index (MiMi) released Wednesday.
Read More »Five Star Partners With Industry to Launch Mortgage Diversity Council
The AMDC's goal is to drive results that support the application and promotion of the mortgage industry's best diversity practices, and advancing solutions that support initiatives outlined by Section 342 of the Dodd-Frank Act–which focuses on minority and inclusion rules that call for greater supply chain diversity and greater diversity in hiring and promoting in the workforce.
Read More »Investors Revive Suit Against U.S. Bank Over $743 Billion Worth of RMBS
A group of dozens of investors, led by BlackRock, Inc., have revived a lawsuit in a New York state court that was dismissed in a federal court last month, accusing U.S. Bank of failing in its duties as trustee for more than $743 billion worth of mortgage backed securities.
Read More »S&P Downgrades Ocwen’s Rankings to ‘Below Average’
Just two weeks after being upgraded by Moody's Investor Service and being placed Standard & Poor's CreditWatch list for a downgrade, S&P cut Ocwen Financial's rankings for residential mortgage prime, subprime, special, and subordinate-lien from Average to Below Average. S&P said that it believed "regulatory and investor scrutiny and/or actions" had affected Ocwen's operations.
Read More »Over 1.5 Million ‘Boomerang Buyers’ Could Re-Enter Mortgage Market In Next Three Years
More than 1.5 million "boomerang buyers"–those negatively affected by the housing crisis–could re-enter the housing market at some point in the next three years, according to a study released by TransUnion on Wednesday.
Read More »Servicers to Face Business Restrictions Due to Noncompliance with OCC
In an effort to escheat any remaining uncashed payments that borrowers made pursuant to the 2013 Independent Foreclosure Review (IFR) Payment Agreement, the Office of the Comptroller of the Currency (OCC) announced today that six servicers will now face several business restrictions for not complying with the consent order requirements.
Read More »Report Indicates Percentage of Underwater Homes in Decline, as Equity Positions Continue to Rise
Approximately 254,000 properties regained equity in the first quarter of 2015, bringing the total of residential mortgaged properties with equity nationwide up to 44.9 million – approximately 90 percent of all mortgages, according to data released by CoreLogic on Tuesday.
Read More »Trulia Welcomes New Chief Economist
Trulia, a San Francisco-based home search resource for buyers and renters, has named Selma Hepp as chief economist. In her new position with Trulia, Hepp will lead the company's housing economics research team and provide key insights about the economy, housing trends, and public policy to house hunters.
Read More »Fifth STACR of 2015 Priced at $950 Million After RMBS Deal of the Year Award
Less than one week after Freddie Mac's Structured Agency Credit Risk (STACR) debt notes received the RMBS Deal of the Year award from Global Capital, Freddie Mac announced the pricing of the fifth STACR offering of 2015 on Monday.
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