Housing in places like New York, San Francisco fail more than just the locals

Caution: GSE reform could have serious unintended consequences

Guest blog by former Ginnie Mae president Joseph Murin

Monday Morning Cup of Coffee: Time to cut the MLS cord?

Plus housing metrics, the incredible shrinking GDP, and kicks are for TRIDs
W S

Lending

Mortgage application activity ticks down in MBA survey

Drop in refinancings continues drag
Trey Garrison
Mortgage applications dropped 1.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 22, 2015.
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ditech expands its consumer direct channel in Florida

Plans to hire more loan specialists
Brena Swanson
Since Ditech Mortgage Corp launched back into the industry in March 2014, it has made several key changes to once again be a major player in the mortgage space. This time around the lender announced it is expanding its consumer direct channel into the Jacksonville, Florida, area.
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Caution: GSE reform could have serious unintended consequences

Guest blog by former Ginnie Mae president Joseph Murin
Joseph Murin
Former Ginnie Mae president Joseph Murin knows first-hand how important the government backstop to the mortgage industry is…and it’s not just for lenders. Without the government guarantee for mortgages, it will be the consumer who suffers most, Murin says.
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Freddie Mac completes sale of $201 million pool of Ocwen-serviced loans

Third sale of the year
Brena Swanson
The chain continues as Freddie Mac announced it officially sold 1,052 deeply delinquent Ocwen serviced non-performing loans from its mortgage investment portfolio as part of its Standard Pool Offerings.
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Associated Bank settles with HUD over discriminatory lending

Bank will fund $200 million in mortgage loans for minority neighborhoods
Ben Lane
Wisconsin-based Associated Bank will provide approximately $200 million in mortgage loans for borrowers in minority neighborhoods as part of a settlement with the U.S. Department of Housing and Urban Development over charges of discriminatory lending.
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First-time buyer share and mortgage risk grow

AEI: Risk for freshman buyers hits series high
Trey Garrison
The Combined FBMSI, which measures the share of first-time buyers for both government-guaranteed and private-sector mortgages, stood at an estimated 52.2%, up from 51.2% and 51.8% respectively in April 2014 and 2013.
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Reality star Nicole Richie wins in California real estate

Lists home for 83% higher than purchase price
Brena Swanson
Nicole Richie may be a top reality TV star, along with her singer husband Joel Madden, but she is also branching out into real estate. And it's in California, too.
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Housing in places like New York, San Francisco fail more than just the locals

Local policies curtail worker freedoms
Jacob Gaffney
From the mid-'60s into the new millennium, these three cities in particular experienced phenomenal growth, but only contributed a small fraction to the growth of the nation. It’s this finding last month that underpins the need for a cohesive federal housing policy that can supersede some of the directions taken by local municipalities.
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Capital Economics: Chart shows home prices ready to grow more

Home sales push prices higher
Brena Swanson
Recent housing reports point to the right conditions for house price growth to pick up even more. What's more, the continued steady growth in home sales this year will only add to the upward pressure.
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Here's why AMCs need to pay close attention to looming regulatory changes

It should be a "very smooth transition for the industry"
Emeka Madu
The new regulation requirements for all states is going into effect soon. The good news is that a majority of states are already meeting these minimum requirements, which translates into fewer challenges for AMCs. Currently, 37 of the 54 states and territories impacted by this regulation are in compliance.
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