Senate approves short sale tax break

Senate approves short sale tax break

Allows tax relief on 2014 short sales

Senate fails to pass Terrorism Risk Insurance Act

Housing groups "extremely disappointed" in "alarming failure"

Another regulator investigates Ocwen Financial

Ocwen’s terrible, horrible, no good, very bad year just got worse
W S

Lending

FOMC: Fed maintains federal funds rate

3 charts reveal the Fed’s economic projections
Brena Swanson
According to the latest Fed meeting, the current 0 to .25% target range for the federal funds rate will likely be appropriate for a considerable time following the end of its asset purchase program in October.
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State of New York bans fracking

Cuomo officially bans oil and gas extraction process for entire state
Ben Lane
Citing the potential for air and water pollution and "inestimable public-health risks," the state of New York has officially banned the oil and gas extraction process known as fracking. The move becomes that latest in an ongoing nationwide battle over fracking. Here's why it matters for housing.
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Lenders fear weakening mortgage demand in 2015

Forecast calls for modest housing expansion
Trey Garrison
The outlook for 2015 is generally good, but lenders are worried that demand for mortgages is going to slow. Here's why, and why they may be right to worry.
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Senate approves short sale tax break

Allows tax relief on 2014 short sales
Ben Lane
Homeowners who had short sales in 2014 were facing massive tax bills unless Congress extended short sale tax breaks. The House of Representatives did its part two weeks ago, and now the Senate has followed suit.
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Oppenheimer raises Ellie Mae’s price target

Sees 3 important growth factors
Brena Swanson
One investment company believes Ellie Mae will benefit from three key factors that will help boost its stock.
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Mortgage applications fall 3.3.% for week despite continued low rates

Third week of declines comes amid global economic unrest
Trey Garrison
For the third week in a row, mortgage application activity dropped, despite the drop in already low interest rates.
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North Miami mayor found guilty of mortgage fraud

Marie Lucie Tondreau now faces up to 30 years in prison
Ben Lane
Marie Lucie Tondreau, the mayor of North Miami, Florida, was found guilty of mortgage fraud, stemming from her part in a scheme that defrauded lenders to the tune of $8 million. Prosecutors said she used her fame to recruit straw buyers.
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MERS wins in Rhode Island again

Rhode Island Supreme Court upholds MERS’ authority to assign mortgages
Ben Lane
MERSCORP has prevailed in another case brought by an aggrieved homeowner who claimed that MERS lacked the authority to assign a mortgage. It's the latest in a string of legal victories for MERS.
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Large banks lower lending standards to pre-crisis levels

Underwriting standards start to weaken
Brena Swanson
A new survey shows that the days of risky mortgage lending may be back, citing concerns that big lenders are lowering their standards on some of the riskiest lending.
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MMREM acquires real estate auction company RealtyBid.com

Accelerates MMREM’s property disposition services
Brena Swanson
Matt Martin Real Estate Management announced a definitive agreement to acquire RealtyBid.com. This greatly expands the company’s capabilities with a proven disposition platform for owners of single-family residences and commercial assets.
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