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BB&T Earnings Drop in Q1

But while earnings dropped, mortgage-banking income and actual revenues for BB&T both increased. Since Q1 last year, mortgage-banking income rose by 48.6 percent, and total revenues for the company jumped by 1.5 percent, or $34 million, coming in at $2.3 billion total.

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Prudential Settles Lawsuits with Bank of America over Mortgage-Backed Securities

New Jersey federal court documents filed earlier this week revealed that Prudential Insurance Co. has moved to settle its ongoing lawsuits with Bank of America NA, Merrill Lynch & Co. Inc., First Franklin Financial Group, and a number of lenders in the mortgage industry. The suits, which were first filed in March 2013, alleged Bank of America and others knowingly sold Prudential $2.1 billion in low-quality mortgage-backed securities—and made false statements about them.

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OCC Head Shoots Down Volcker’s Plan

Last week, former Federal Reserve Chairman Paul Volcker had proposed a plan for overhauling the federal regulatory system—one that included eliminating the Office of the Comptroller of the Currency (OCC) altogether. Since dubbed the “Volcker plan,” the head of the OCC, Thomas Curry, has come out against the proposal, saying it would be ineffective at solving the nation’s regulatory issues.

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Economists Expect Housing to Move Steadily in 2015, Pick Up Pace Next Year

The housing market will move steadily in 2015 driven by solid labor market improvements, low mortgage rates, an economy that is growing, and pent-up demand–but the pace should really pick up next year, according to economists who attended the National Association of Home Builders (NAHB) 2015 Spring Construction Forecast Webinar earlier this week.

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Treasury Says GSEs Have an ‘Ongoing Financial Commitment’ to Taxpayers

In the response letter, dated April 21, 2015, Treasury's Acting Assistant Secretary for Legislative Affairs, Randall DeValk said that wanted to "clarify some misunderstandings" from some press reports regarding the agreement, and said that the government's $187.5 billion bailout of Fannie Mae and Freddie Mac with taxpayer funds in 2008 was not an "ordinary" loan.

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Study Finds Population Growth Influences Home Values

The three fastest-growing areas of the country were largely immune from the effects of the housing crisis, leading Massachusetts-based Pro Teck Valuation Services to conclude that population growth is a strong indicator of home values, according to a report the company released Wednesday.

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Return Buyers Are Expected to Give Housing Market a Boost

Approximately 350,000 borrowers eligible for re-purchase are currently unable to do so due to tight financial markets, and as many as 260,000 borrowers may never return to homeownership at all, the report says, because their former loans were backed by loose lenders.

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