Investments

Barclays triumphs in toxic mortgage bond row with U.S. Bank, FHFA

Court rules U.S. Bank, FHFA waited too long to file claims
Barclays Bank and a defunct subprime lending unit of the company are off the hook for allegedly misrepresenting the quality of the mortgages that made up a $619 million mortgage bond after the Supreme Court of the state of New York ruled that U.S. Bank and the Federal Housing Finance Agency waited too long to file a lawsuit against Barclays.
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Fannie Mae: Mortgage industry isn't even close to done with tech innovation

Does the industry need a disruptor like Uber?
Even though the mortgage industry is finally stepping up and answering the call for more technology innovation in the space, a new survey from Fannie Mae on the pulse of the industry shows it's not even close to getting to where it should be. But the motivation is definitely there. Here's looking at you, TRID.
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Obama administration presents a look at life after HAMP

Feds provide a preview of what's next
Time is ticking on the government's Home Affordable Modification Program and Home Affordable Refinance Program, as both will end on Dec. 31, 2016. In a comprehensive report published Monday, the Treasury, HUD, and the FHFA say that while these programs are set to end this year, the government plans to continue working with the mortgage industry on various loss mitigation programs moving forward, but caution that the industry needs to be prepared to do more.
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Monday Morning Cup of Coffee: Is housing talk finally coming to the 2016 election?

A full rundown of all things housing in the race for the White House
Well, we're smack dab in the middle of election season now, and housing is thus far, decidedly not on the agenda. But is that all about to change? While Republican nominee Donald Trump didn't touch on housing in his acceptance speech last week, the Republican Party platform does call for significant changes to the country's housing finance system. As for the Democrats, the party made two big moves over the weekend that could bring housing into the conversation.
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New York unveils $13 million program for cities' fight against zombie homes

New grant program uses Morgan Stanley settlement funds
The state of New York takes its next steps in its ongoing battle against neighborhood blight caused by abandoned foreclosures by unveiling a new program designed to help cities throughout the state fight back against the rise of zombie homes. And the state is using money from a massive settlement with Morgan Stanley to do it.
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Mortgage income pushes SunTrust earnings up in Q2

Mortgage apps increase 27% annually
SunTrust Bank reported positive earnings for the second quarter. Revenues increased from last month and last year, driven mainly by the company’s mortgage-related income, which increased even while interest rates are near all-time lows.
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Clayton Holdings launches new underwriting program for "fix and flip" lending

Company offers end-to-end underwriting, valuation and due diligence solution
Clayton Holdings, a provider of loan due diligence, surveillance, REO management, consulting, valuation, title and settlement services to the mortgage industry, revealed its latest offering. The new solution is already in the market and is specifically designed for the "fix and flip" market.
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