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CAI Confirms Support for FHA’s New Guidelines

The Federal Housing Administration (FHA) is receiving industry support for its revisions to mortgage-related guidelines on condominium properties. Having been adamant about the need for changes to the previous standards, the Community Associations Institute (CAI) recently spoke out in support of the FHA's decisions, which the group says will create greater stability in the condo market.

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A10 Capital Adds Commercial Mortgage Leader

Lending specialist A10 Capital has announced the appointment of a new head of business development for the company's Tri-State market. Adding industry veteran Bruce Dashevsky, A10 is gaining a new leader for development efforts throughout Connecticut, New Jersey, and New York.

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CFPB Names CEO of HOPE to Consumer Advisory Board

The CEO of Hope Enterprise Corporation/Hope Credit Union (HOPE),Bill Bynum, has been appointed to a leadership position with the Consumer Financial Protection Bureau (CFPB). Bynum was named the vice chairman of the organization's new initiative, the Consumer Advisory Board.

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Home Prices Gain in 19 Major U.S. Markets: Redfin

Beating summer expectations, August home prices ticked up 5 percent across 19 major U.S. markets in what real estate broker Redfin called an "indicator of a housing market getting stronger." According to the broker, home sales went up 1.4 percent year-over-year, eclipsing a 2.5 percent decline in July. Home sales increased from 26.7 percent to 27.6 percent last month. Of major U.S. cities, prices in Phoenix went up by 31 percent year-over-year. Home prices meanwhile fell 4 percent from August last year.

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Sterling Savings Accused of Violating Labor Laws

Two mortgage loan officers are suing Sterling Savings Bank, based in Washington and with operations in Washington, Oregon, Idaho, Montana, and California, faces litigation for allegedly violating federal and state labor laws. According to the complaint filed in an Oregon federal court, Sterling Savings Bank and Golf Savings Bank denied mortgage loan officers and other mortgage origination employees overtime pay they are due under the federal Fair Labor Standards Act. Sterling Savings and Golf Savings merged in 2010.

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London Home Breaks World Record for Most Expensive Listing

In London, a home that's considered to be the largest single-family residence in the city has hit the market for a mind-blowing $484 million. According to Curbed, if the home achieves anything close to its list price, it will become the most expensive property ever sold in London.

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Survey: More Women Aspire to Homeownership

TD Bank is capturing the consumer perspective on the American Dream of homeownership, recently releasing the results of its Home Buyer Poll. Among TD Bank's most significant findings - statistics showing that women are nearly 10 percent more likely to aspire to purchase property than men. According to TD Bank's survey, 64 percent of women believe that homeownership is "essential in defining the American Dream."

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Could Economic Malaise Spell Just One Term for Obama?

When he ran for the presidency in 1980, Ronald Reagan, then Republican governor of California, struck at then-President Jimmy Carter over the strength of the economy. His question for Americans: "Are you better off now than you were four years ago?" That's the question Paul Ashworth and Paul Dales, senior analysts with Capital Economics, offered to answer in a report released by the consultancy on Friday. The report breaks down recent economic trends, including GDP, home sales, and median income.

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California Mortgage Fraud Case Nets 11 Indictments

Federal agents arrested 10 defendants who worked at a Rancho Cucamonga, California-based business accused of offering false loan modification programs to homeowners, SIGTARP announced Wednesday. Those taken into custody are among 11 defendants named in a federal indictment following a joint investigation by SIGTARP, the FBI, IRS├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó Criminal Investigations division, the United States Postal Inspection Service, and FHFA.

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Eminent Domain Gripe Arrives in Nation’s Capitol

Rep. John Campbell introduced to Congress a piece of legislation designed to keep local governments from using eminent domain to seize homes with underwater mortgages. Titled ├â┬ó├óÔÇÜ┬¼├àÔÇ£The Defending American Taxpayers from Abusive Government Takings Act,├â┬ó├óÔÇÜ┬¼├é┬Ø the bill would prohibit Fannie Mae, Freddie Mac, FHA, and the Veterans Administration from purchasing or guaranteeing loans originating in counties where a municipality has seized a mortgage loan through eminent domain in the last decade.

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