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

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

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

Jeb Bush: Current housing and debt situation unsustainable

Is the clock ticking on the 30-year mortgage?

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance
W S

Investments

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

Plus housing metrics, the incredible shrinking GDP, and kicks are for TRIDs
Trey Garrison
TILA-RESPA and TRID are closing in – are you ready? Plus how weak is the recovery, will housing pull it through, and you say you want to ditch the MLS? Read on for all this and more.
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Barclays mortgage bond trader fired for allegedly lying to clients

Yoon Seok Lee “discharged” on Feb. 11
Ben Lane
Barclays Capital fired one of its mortgage bond traders after he allegedly lied to clients about residential mortgage-backed securities trades.
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Lehman Brothers suing over crisis-era toxic mortgages

Asks judge to cancel claims by Syncora Holdings and U.S. Bancorp
Ben Lane
Lehman Brothers Holdings filed suit against Syncora Holdings, U.S. Bancorp and GreenPoint Mortgage Funding in an effort to try to get “duplicate” claims filed by those three companies against Lehman Brothers thrown out because Lehman Brothers is ready to settle and move on.
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Trending Thursday: Housing, mortgage finance getting a break from Washington?

Plus untying Fannie, Freddie and the whole Gordian knot of conservatorship
Trey Garrison
A lot of changes could be on the horizon for housing, mortgage finance, Fannie, Freddie and the whole housing shebang. Here's the latest from Washington and beyond.
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Auction.com partners with Juwai.com to bring U.S. listings to Chinese buyers

Deal will bring access to Juwai.com’s 2.6M Chinese speaking clients
Trey Garrison
The top real estate portal in China and the U.S. online real estate marketplace Auction.com are joining forces to bring Chinese buyers to American commercial and residential real estate listings. Here’s the deal.
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Moody’s: New mortgage disclosure rule will increase risk for US RMBS

Question is how much RMBS trusts will be liable for lender errors?
Trey Garrison
The new CFPB disclosure rules, along with the potential for increased costs in the event of non-compliance, raise the risk of losses for RMBS trusts. Here’s why.
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Black Knight Financial Services kicks off successful Initial Public Offering

Early action sees strong interest pushing up price
Trey Garrison
Black Knight Financial Services is officially on its way to being a publicly traded company. The data and technology firm priced its IPO gamble at $24.50 per share, and just a few hours in, it has already moved far and above that.
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FHFA, Fannie, Freddie say single securitization still years away

Secondary market gets much-awaited update
Ben Lane
Despite being asked pointedly during the “Update on the GSE Single Security and Common Securitization Platform” panel at the Mortgage Bankers Association’s National Secondary Market Conference, representatives from the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, and Common Securitization Solutions all said that the development of single security is still years way from implementation, without specifying just how many years that might be.
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Fitch: Fannie Mae risk-transfer deal more advantageous for mezzanine investors

Still similar to prior risk transfer transactions
Brena Swanson
Fannie Mae’s seventh risk transfer transaction, Connecticut Avenue Securities, Series 2015-C02, is similar to its prior risk transfer transactions and is about to be rated by Fitch Ratings. There is one feature, however, that offers investors a different kind of competitive benefit.
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Home Depot posts $1.6B net income in 1Q

Retailer improves fiscal year sales guidance on sales gains
Trey Garrison
The largest home improvement retailer, Home Depot, reported big gains in sales and net income — so much in fact they've raised their sales guidance for the rest of 2015.
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