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TransUnion and Equifax Facing CFPB Fines for Deceptive Marketing

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Today’s News Synopsis: In their latest HPI forecast, CoreLogic reported home prices increased 7.1% in November.  TransUnion and Equifax are facing fines from the CFPB for deceptive marketing.  December saw an increase in mortgage rates according to the latest report from Ten-X. In The News: Freddie Mac – “Freddie Mac Announces Final ACIS Transaction of 2016” …

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NAHB Reports Increase in Homebuilder Sentiment by 7 Points

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Today’s News Synopsis: Freddie Mac reported interest rates increased with 30-year rates now at 4.16% and 15-year rates at 3.37%.  The NAHB reported an increase in homebuilder sentiment by 7 points, putting it now at 70.  The CBIA shared how the recent big increase in home price from lack of supply can have a huge …

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Mortgage Write-Offs at $9.5 Billion, their Lowest in 9 Years

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Today’s News Synopsis:   Mortgage applications increased but not by much at 0.4% according to the Mortgage Bankers Association.  The White House announced plans today to focus on building more communities that will hold up better against difficult life circumstances.  The latest Equifax National Consumer Credit Trends Report showed mortgage write-offs to be at their lowest …

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FHA Loan Limits For Next Year Announced

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Today’s News Synopsis:   The Mortgage Bankers Association reported mortgage applications increased 1.2% from last week in their latest survey.  FHA loan limits for next year were just announced today, and it looks like the limits will be increasing due to housing price changes.  The difference between the opinions of appraisers and homeowners is growing …

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House Scheduled to Vote Tonight on GSE Pay

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Today’s News Synopsis:   TranUnion’s latest Industry Insights Report showed another decrease in mortgage delinquency rates, helping make the consumer credit market more balanced.  After a two-week delay, the House is scheduled to vote this evening on how much the GSEs should be paid.  The FHA’s MMI Fund showed tremendous increase this fiscal year despite …

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MBA and Freddie Mac to Provide New Partnership as Way To Provide More Benefits

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  Today’s News Synopsis: Home prices in Southern California decreased last month by 0.7% month-over-month.  The NAHB reported an increase in home builder confidence, putting it at 64. In order to provide MBA members more valuable benefits, Freddie Mac and the MBA are forming a new partnership.   In The News: Los Angeles Times – “Southern …

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Builder Confidence Up, But Affordability Down With Rising Construction Costs

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  Today’s News Synopsis:   The NAHB reported a one point increase in builder confidence, placing it now at 61.  However, the NAHB also reported fewer people are able to afford housing now with the increase in both home and construction prices.  With the TRID deadline approaching, the CFPB just released a new document outlining …

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Don’t Expect Fed Interest Rate Increase Any Time Soon

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  Today’s News Synopsis:   CoreLogic’s latest foreclosure report showed a drop in foreclosures to levels they were before the recession.  The divide on opinions regarding home values by appraisers and homeowners continues to widen and is now double what it was before as of July.  Don’t expect to see an increase in Fed interest …

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Jumbo Reverse Mortgages Gaining Popularity Among High-Value Homeowners

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  Today’s News Synopsis:   The latest data from the Commerce Department showed new home sales increased last month by 2.2% to 546,000, their highest since 2008.  Home prices also increased by 0.3% the prior month according to the FHFA.  High-value homeowners are taking a bigger interest in something new: jumbo reverse mortgages   In …

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

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    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 by Senator …

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