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Proposal Details Possible GSE Reform Plan

A key industry organization has released a white paper outlining a GSE reform plan. The paper details how the reform should occur, how to handle the transition, and the secondary market’s role in it all. The organization hopes to work with legislators on creating a bipartisan reform plan.

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Greenspan Supports Dodd-Frank Rollback

Former Fed Chairman Alan Greenspan came out against the Dodd-Frank Act today on CNBC’s “Squawk on the Street” business show. The post-crisis regulations, he said, have caused a “surge in stock prices,” and getting rid of them would “have a very significant positive impact on the economy.” President Trump called for a review of Dodd-Frank back in February.

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Inventory, Affordability Problems Can’t Keep Buyers Away

Home sales should remain strong as the year goes on, even despite rising mortgage rates, tight inventory, and declining affordability. Potential existing-home sales rose 0.6 percent over the year and 83 percent over their all-time high. Wage growth, strong employment, and an uptick in building permits will encourage sales further.

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How Effective is the CFPB?

With the Consumer Financial Protection Bureau and the Dodd-Frank Act coming under federal scrutiny, Trulia wondered how effective the consumer protections have been in the CFPB’s first half-decade. According to the firm, very. A new report suggests the bureau has been a powerful ally for U.S. mortgage holders in all markets.

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Low Inventory Continues to Impact the Market

Low inventory continues to hinder the housing market. Many potential sellers simply aren’t selling out of fear of not being able to afford a new home. Moving may mean losing their low mortgage rates, which were locked in after the crisis.

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Housing Starts Fall, Permits Up in March

Despite a strong February, housing starts have fell almost seven percent in March. Although sing-family starts dropped, single-family permits posted the third largest annual pace since the recession. Permits in March grew 3.6 percent to 1.26 million from February’s 1.216 million, and grew year-over-year by 17 percent.

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Fannie Mae Keeping Its Outlook Steady

The April Economic and Housing Outlook report from Fannie Mae paints a steady picture of an economy the GSE expects to give no big surprises. The combination of potential political unrest home and abroad and a smoothly growing housing market are keeping the GSE’s predictions on the safe side. Still, housing is a significant bright spot this year.

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M&T Posts Q1 Results

At the end of Q1 2017, M&T bank reported a mortgage banking revenue of $85 million, a $3 million increase from Q1 2016, but a decrease from Q4 2016’s $98 million. The bank’s real estate and other foreclosed assets dropped from $188 million to $119 million year-over-year, and quarterly from $139 million.

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STRATMOR Gives LendingQB High Marks

According to STRATMOR Group’s Technology Insights survey, LendingQB, a provider of a web-based loan origination system (LOS) based in Costa Mesa, California, has received high marks for vendor satisfaction and customer support.

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Rising Applications and Falling Mortgage Rates

mortgage application

As mortgage applications increase, mortgage rates have begun to drop, according to data from the Mortgage Bankers Association (MBA) and Freddie Mac. The MBA’s Market Composite Index, a measure of mortgage loan application volume, rose 1.5 percent from a week earlier, while the 30-year fixed-rate mortgage dropped from 4.10 to 4.08 percent. The average loan size for purchase applications was at $318,700, a survey high.

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