Hey CNBC, shut up about millennials already

Hey CNBC, shut up about millennials already

Your advice is patronizing, contradictory and just plain wrong

Morgan Stanley finally pays $275 million for subprime RMBS fraud

SEC charged company with misrepresenting loans

New home sales collapse, erasing recent surge

Sales 11.5% down YOY; fall to 406,000 annual pace
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Lending

MGIC CEO retires, Patrick Sinks fills role

Curt Culver becomes non-executive chairman
July 24, 2014
MGIC Investment Corporation’s CEO announced Curt Culver, 62, will retire as CEO and become non-executive chairman. Patrick Sinks, 57, will step in to become CEO, in addition to joining the board of directors.
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Hey CNBC, shut up about millennials already

Your advice is patronizing, contradictory and just plain wrong
July 24, 2014
CNBC’s analysts seem to view millennials as a giant homogenous mound of humans who all think the same way, look the same way, do the same things and look at the world in the exact same way. And every day, CNBC’s analysts opine on why millennials aren’t buying homes, or buying stocks or buying whatever else it is that CNBC thinks is important that day.
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Jobless claims drop to 8-year low

But it’s not all-positive news
July 24, 2014
Jobless claims plummeted by 19,000 filings to 284,000 for the week ended July 19, the lowest level for initial claims since Feb. 18, 2006. But it's what is hidden behind the numbers that is important to note.
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Freddie Mac: Mortgage rates push buyers to market

Despite slight rises, rates still low
July 24, 2014
"Mortgage rates have entered the summer doldrums, showing very little movement one way or another. The benchmark 30-year fixed mortgage rates has fluctuated within a very narrow range – one-tenth of a percentage point – since mid-May," Bankrate said.
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What happens when consumers can shop for settlement services?

TILA-RESPA rule requires a list for consumers to choose from
July 24, 2014
Creditors are going to be required to provide a written list of providers (at least one), and obtaining/delivering this information entails added administrative work.
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CoreLogic slashes 2014 mortgage origination estimate by 10%

Still reports revenue growth of 13%
July 23, 2014
CoreLogic’s second-quarter revenue increased to $349.4 million, which was also up 0.4% from 2Q13. The company said that the increase was “despite an estimated 50% contraction in U.S. mortgage volumes.”
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HousingWire TECH100 winner FormFree issued pioneering patent

All-digital verification is now a thing
July 23, 2014
The move toward digital lending appears officially unstoppable as FormFree Holdings just received a patent for AccountChek, the world's first automated asset verification system for the lending industry.
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CHLA challenges FHFA IG report on risk from smaller nonbank lenders

Report lacks evidence to support claims, ignores other key factors
July 23, 2014
The Community Home Lenders Association is challenging the Federal Housing Finance Agency IG report issued last week which had raised concerns about risks to the GSEs from increased loan purchases from smaller nonbank mortgage lenders.
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The housing market’s new normal?

2 things will have to change if we want the old market back again
July 23, 2014
What if the market the way it is now is the new normal?
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Freddie Mac: Housing growth remains stagnant

...But it's not all bad news
July 23, 2014
"We remain cautiously optimistic the housing recovery will continue, albeit slowly, until we see more tightening in the labor markets to give personal incomes a much-needed jolt,” Freddie Mac Chief Economist Frank Nothaft said.
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