5 tips for new renters this summer

S&P Case-Shiller: Home price gains slowed in April

Nationally home prices gained 4.2%

Realtor.com: Here are the 20 hottest markets this summer

Expanding inventory boosts sales
W S

Investments

Seattle’s ‘Up’ house now facing demolition

Buyer backs out of deal for ultimate spite house
Ben Lane
A truly unique Seattle-area home that boasts neighbors like L.A. Fitness and Trader Joe’s is on the verge of being torn down, a sad end to a tale that many likened to a real-life ‘Up.’
Read More

Treasury sweep of Fannie, Freddie shareholder profits "costly for housing"

National Law Review: FHFA in “breach of its duties under HERA”
Trey Garrison
Yale Law School lecturer Logan Beirne examined a lawsuit recently filed by three Fannie Mae and Freddie Mac investors accusing the federal government of exceeding its authority as a conservator, and in a National Law Review article, he supports their contention.
Read More

S&P Case-Shiller: Home price gains slowed in April

Nationally home prices gained 4.2%
Trey Garrison
Home prices in April continued their rise across the country over the last 12 months, but the pace of the gains slowed, according to the S&P/Case-Shiller Home Price Indices. Is there a problem?
Read More

Impac boosts lending capabilities with $30M loan from Macquarie Group

Plans to use funds to “opportunistically” retain mortgage servicing rights
Ben Lane
Impac Mortgage Holdings, which is already having itself quite a year, is set to grow its lending capability even more, thanks to a capital infusion from the Macquarie Group. Here are the details.
Read More

Freddie Mac’s second actual loss STACR deal prices wide

Previous deal upsized due to market demand
Ben Lane
After market demand caused Freddie Mac to increase the size of its first Structured Agency Credit Risk series offering featuring actual loss positions, Freddie Mac announced the pricing of its second actual loss STACR deal, with STACR Series 2015-DNA2 pricing wide compared to STACR Series 2015-DNA1.
Read More

U.S. Conference of Mayors: Don’t sell non-performing loans to Wall Street

Mayors tell HUD, Fannie and Freddie to sell to non-profits instead
Ben Lane
The U.S. Conference of Mayors is joining a growing chorus calling on the U.S. Department of Housing and Urban Development, Fannie Mae and Freddie Mac to stop selling pools of non-performing loans to “Wall Street speculators,” and requesting that the pools be sold instead to non-profits interested in keeping homeowners in their homes.
Read More

The three-card Monte accounting of Fannie, Freddie conservatorship

Admittedly partisan study raises troubling questions
Trey Garrison
A forensic look at the complex legerdemain that was federal government putting the GSEs in conservatorship reveals some head-scratching accounting and some three-card Monte style mathematics.
Read More

Housing advocates: REO-to-rental boom is bad for California renters, buyers

Want regulators to step to stop Main Street banks financing “displacement”
Trey Garrison
A new report by the affordable housing nonprofit group California Reinvestment Coalition says the practice of investors buying and renting foreclosed homes hurts neighborhoods throughout California. Are they right?
Read More

Monday Morning Cup of Coffee: CFPB under the gun again

Plus disparate impact, what the Fed is doing, #FannieGate and more
Trey Garrison
Today could be a big legal day for housing, as the Supreme Court will determine whether housing policy is subject to the onerous burdens of “disparate impact.” Plus, housing metrics for the week, the mixed outlook on what the Fed will do with rates, more investigations of the CFPB and a whole lot more you won’t want to miss.
Read More

CUNA discovers discrepancy in CFPB’s TRID rule, seeks answers

Asks bureau to clarify and exempt smaller volume credit unions
The Credit Union National Association asked the Consumer Financial Protection Bureau to clarify a discrepancy and to exempt credit unions that make five or fewer mortgages in a calendar year from the Know Before You Owe rule. Want to know more?
Read More