TransUnion and Equifax Facing CFPB Fines for Deceptive Marketing

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” (1-3-17)

“Freddie Mac (OTCQB: FMCC) today announced its final Agency Credit Insurance Structure (ACIS®) transaction of 2016, an insurance policy providing up to a combined maximum limit of approximately $285 million of credit losses on single-family loans and transferring a significant portion of mortgage credit risk on a $16 billion reference pool of 15-year mortgages purchased during the first nine months of 2016.”

Bloomberg – “Wall Street, America’s New Landlord, Kicks Tenants to the Curb” (1-3-17)

“Hedge funds, large investment firms and private equity companies helped the U.S. housing market recover after the crash in 2008 by turning empty foreclosures from Atlanta to Las Vegas into occupied rentals.  Now among America’s biggest landlords, some of these companies are leaving tenants like Allen in the cold.”

CoreLogic – “CoreLogic US Home Price Report Shows Prices Up 7.1 Percent in November 2016” (1-3-17)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI) and HPI Forecast for November 2016 which shows home prices are up both year over year and month over month.”

Washington Business Journal – “Billions are still pouring in but D.C. has fallen out of favor with foreign investors” (1-3-17)

“Prime real estate in the District still commands a premium, but D.C. has fallen off the top-five list for foreign investors for the first time in a quarter-century.”

Bloomberg – “Minutes to Give Few Rate Clues as Fiscal Puzzle Clouds Fed View” (1-3-17)

“Details about the closed-door policy discussion Federal Reserve officials held last month could help explain why several of themw increased the number of interest-rate hikes they expect in 2017 without significantly upgrading their economic forecasts. Officials will likely be less revealing about the timing of the next policy move.”

DS News – “Rise in Holiday Cheer…and Mortgage Rates?” (1-3-17)

“Last month was not only high in Christmas spirit and morale, it also included an increase in mortgage rates. According to the latest Ten-X Residential Real Estate Nowcast, existing home sales have seen a month-over-month decrease, which due to rising mortgage rates.”

Housing Wire – “CFPB fines TransUnion and Equifax for deceiving consumers with their marketing” (1-3-17)

“The Consumer Financial Protection Bureau revealed in a press release on Tuesday that it is not only fining TransUnion but Equifax as well for deceiving consumers in marketing credit scores and credit products.”

 

Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with Prosperity Through Real Estate TONIGHT.

Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with CVREIA on Tuesday, January 10.

Bruce Norris of The Norris Group will be presenting 2% Interest, $30 Trillion in Debt, and Other Suprise Endings on Saturday, February 4.

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