Posts Tagged ‘Richard Cordray’

Remodeling Shows Upward Trend This Years

May 2nd, 2016

Today’s News Synopsis:   The NAHB reported an upward trend in remodeling projects for this year.  The Know Before You Owe Rule, set up under TRID, is undergoing heavy reconsideration by the CFPB.  A new bill was passed this week by the House Financial Services Committee that did away with some

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Latest Freddie Mac STACR Transaction Totalled $475 Million

March 10th, 2016

Today’s News Synopsis:   Mortgage rates are down low enough for the spring, below their peak at this time last year with 30-year rates at 3.68% and 15-year rates at 2.96%.  The Mortgage Bankers Association reported a 24% increase in new home purchase applications last month.  The latest STACR transaction by Freddie

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Bill To Limit GSE CEO Pay Signed Into Law

December 4th, 2015

Sources: Pending Sales of Previously Owned Homes in U.S. Increase 0.2% CoreLogic: Home prices rise 6.8% in October Commercial/Multifamily Delinquencies Continue Decline Mortgage Applications Decrease Slightly in Latest MBA Weekly Survey CoreLogic: Distressed home sales continue to trend lower Freddie Mac: Mortgage rates drop further below 4% U.S. Stocks Rally With Dollar on Economy Optimism; Crude Falls Too

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CFPB Allowing Adjustment Time Period Following Ruling for TRID Grace Period

September 30th, 2015

  Today’s News Synopsis:   The Mortgage Bankers Association reported mortgage applications decreased by 6.7% from last week.  Following the decision for TRID to allow a grace period, Richard Cordray of CFPB announced they too will allow a period of time for institutions to get accustomed to this new rule.  More homes

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Cash Sales of Homes Decrease to 31.3% According to CoreLogic

September 29th, 2015

  Today’s News Synopsis:   According to the latest S&P/Case-Shiller Index, home prices increased 5% year-over-year in July in 20 cities across the country.  At the same time, cash sales decreased to 31.3% from 33.9% year-over-year in June according to CoreLogic. reported now is a better time than ever to purchase

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Fannie Mae Mortgage Portfolio Decreases Again to Below $4 Billion

June 30th, 2015

  Today’s News Synopsis:   Richard Cordray, director of the CFPB, is scheduled to speak in front of the Senate Banking Committee on July 15.  The National Association of Realtors reported an increase in pending home sales to levels not seen in nine years.  Fannie Mae’s mortgage portfolio decreased again this month

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Know Before You Owe Rule Will Not Go Into Effect Until October

June 17th, 2015

    Today’s News Synopsis:   Today is a big day for foreclosures and delinquencies.  Delinquencies are showing signs of increase as more Americans are struggling to make interest payments on HELOCs.  At the same time, HOPE NOW reported solutions for non-foreclosures have outweighed foreclosure completions.  A new piece of legislation was proposed

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$50 Million Robo-Signing Settlement Reached with JP Morgan

March 4th, 2015

  Today’s News Synopsis: The Mortgage Bankers Association reported mortgage applications increased only slightly from last week by 0.1%.  New data from the Census Bureau showed homeownership rates were at their lowest in 20 years in 2014.  JP Morgan Chase just reached a settlement of $50 million regarding robo-signing. In The News: Housing

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It’s Expected Real Estate Crowdfunding Will Increase To Over $2.5 Billion This Year

March 3rd, 2015

  Today’s News Synopsis: Home prices increased almost 6% in January according to CoreLogic’s latest Home Price Index.  The Mortgage Bankers Association reported a continued decrease in commercial/multifamily delinquencies to 5.11%.  It is believed real estate crowdfunding will see an increase this year over $2.5 billion. In The News: Housing Wire – “CoreLogic:

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Morgan Stanley Reaches Settlement of $95 Million over Mortgage-Backed Securities

September 10th, 2014

        Today’s News Synopsis: Morgan Stanley has just reached a settlement and has agreed to pay $95 million to cover mortgage-backed securities sold under false pretenses.  Mortgage applications decreased 7.2% last week according to the latest survey released by the Mortgage Bankers Association.  U.S. Representative Maxine Waters has proposed changes be made

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