Earlier this week, the U.S. House of Representatives passed S. 2036 by voice vote placing a cap on the salaries of Fannie Mae and Freddie Mac CEOs right at the original amount of $600,000 per year. Many in the mortgage industry expressed both approval and disapproval of the House's decision when questioned about the vote.
Read More »House Passes Qualified Mortgage Rule; White House Threatens to Veto
The White House is threatening to veto a bill that calls for more transparency from the Fed as well as another piece of legislation that would allow loans in portfolio to qualify for an exemption under the Consumer Financial Protection Bureau's qualified mortgage rule, which passed in the House on Wednesday.
Read More »Interest Rate Hike Highly Likely at December Meeting, FOMC Minutes Show
The elusive interest rate hike that the mortgage industry has anticipated for quite some time may finally happen in December 2015. Minutes from the Federal Open Market Committee's October meeting showed that most of the members appear to be on-board for a December rate increase.
Read More »Minority Mortgage Access Remains Problematic Nationwide, Research Shows
Despite the housing industry's major strides in recovery since the crisis, mortgage access among minorities remains a problem, locking them out the market.
Read More »Mortgage Originations Spiked by Positive National Credit Data
Mortgage originations in the housing market rose significantly over the last year thanks to the positive overall credit picture in the U.S., along with a rise in the ...
Read More »CoreLogic Unveils Enhanced HomeEquity Data Offerings
CoreLogic Inc., announced that the company has released its enhanced home equity data set to expand the information delivered through its two home equity data solutions: CoreLogic Loan Level Home Equity and TrueStandings Home Equity. The data set captures home equity information from eight of the ten largest home equity lenders, which includes more than 37 million records and monitors the performance of 6.2 million active Home Equity Lines of Credit and Home Equity Loans with active balances totaling more than $315 billion.
Read More »Single-Family Housing Construction Pace Slows in October
Construction in the single-family housing market for the month of October as both housing starts and housing completions decreased, the U.S. Census Bureau and HUD announced Wednesday.
Read More »DOJ May Target RBS, JPMorgan Executives for Criminal Roles in Financial Crisis
The U.S. may be following through on promise made a few months ago to target individual executives from the Royal Bank of Scotland and JPMorgan Chase for their alleged criminal role in financial crisis. In September, the Department of Justice issued a memo to all U.S. state attorneys general stating that it will pursue the prosecution of individuals whose actions brought on the Great Recession of seven years ago. The DOJ is reportedly standing by their word and pursuing criminal cases against executives at these two banking institutions for allegedly selling flawed mortgage securities after being warned by associates of their wrongdoings.
Read More »Fed Chair Janet Yellen Urges Congress to Dismiss Increased Transparency Bill
“This provision would politicize monetary policy and bring short-term political pressures into the deliberations of the FOMC by putting into place real-time second guessing of policy decisions,” Yellen wrote in the letter. “Such action would undermine the independence of the Federal Reserve and likely lead to an increase in inflation fears and market interest rates, a diminished status of the dollar in global financial markets, and reduced economic and financial stability.”
Read More »Home Builder Confidence Stumbles in November
Home builder sentiment fell three points in November to levels more consistent with the second half of 2015 after an upward rise in October to the highest level since 2005.
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