CFPB: Data collection practices within the norm for regulators

CFPB: Data collection practices within the norm for regulators

Data collection essential for effective financial regs, spokesman tells HW

NMS Monitor: Is the 30-year mortgage the best product?

Challenges attendees at ABS East to “do something better"

Ginnie Mae launches 5 new initiatives to increase mortgage lending

HUD secretary warns American Dream remains out of reach
W S

Investments

CFPB: Data collection practices within the norm for regulators

Data collection essential for effective financial regs, spokesman tells HW
Trey Garrison
The GAO’s report recognizes that the Bureau collects data on a scale similar to other regulators and uses that data to carry out its mission to protect consumers, a CFPB spokesperson says.
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Remind me again what the “R” in “RMBS” stands for

Maybe it should be "rental"
Mark Fleming
The homeownership rate has fallen recently and all the panelists agreed that it seemed unlikely to return to its prior peak any time soon. The only question is: over time will the “R” in RMBS stand for Rental instead of Residential?
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Fannie: Housing still trying to get traction amid consumer caution

GSE says near-term outlook steady on promising economic news
Trey Garrison
Fannie Mae predicts the second half of 2014 will pick up steam, according to the September Outlook report compiled by its Economic & Strategic Research Group.
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Home prices come in below analyst expectations at a mere 0.1% growth

July’s disappointing numbers come on the heels of a downward June revision
Trey Garrison
House prices in July came in at just 0.1% up from the June printing, well below analyst expectation of 0.5% and continuing the slowdown in the second half of 2014. Here's how and why.
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Single-family rental bonds are here to stay

ABS East panel: Asset class will continue to grow
Ben Lane
During an ABS East panel on REO-to-rental securitizations, the panelist agreed that the asset class is here to stay. “The demand for these types of loans is very, very encouraging,” Colony American Finance's Beth O’Brien said. “This isn’t quite as new as it sounds.”
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Housing, tech stocks take a beating on troublesome data

HW 30 index look like a slaughterhouse floor
Trey Garrison
Declining economic activity and a serious drop in existing home sales opened the door for housing stocks to take a beating Monday.
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Single GSE bond is coming, but when?

FHFA, GSEs provide update at ABS East
Ben Lane
“The CSP is a very important goal of the enterprises,” FHFA Senior Associate Director Robert Fishman said. “We have made real progress on the software build, but development will continue for quite a while. This is not a done deal.”
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CFPB collecting data on 600 million credit accounts despite privacy, security risks

GAO report: Weaknesses in CFPB ability to assess data collection
Trey Garrison
A Government Accountability Office comprehensive study released by the ranking member of the U.S. Senate Banking Committee confirms that the Consumer Financial Protection Bureau is collecting financial data on up to 600 million consumer credit card accounts, without sufficient security and privacy protections to ensure there is no risk of improper collection, use, or release of consumer financial data.
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Investors Unite: No, District Court ruling won’t affect GSE lawsuit

Ruling unconnected to issue of ‘third amendment sweep’
Trey Garrison
A ruling late Friday with U.S. District Judge Amy Jackson holding that Fannie Mae shareholders cannot sue the Department of Treasury in a derivative action may not be the blow to the shareholder case against Treasury that HousingWire first cast it as.
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Existing home sales drop 1.8% on cash buyer retreat

Annual home sales down 5.3%
Trey Garrison
With cash-paying investors in a full retreat, existing home sales dropped 1.8% in August, according to the National Association of Realtors. "On the positive side, first-time buyers have a better chance of purchasing a home now that bidding wars are receding and supply constraints have significantly eased in many parts of the country,” said Lawrence Yun, NAR chief economist.
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