Investments

Moody's: Canadian lumber tariff may take up to 6 months to impact U.S. homebuilders

Chart breaks down where the impact hits home prices
The Trump administration recently announced a tariff on Canadian softwood lumber imported into the U.S. to address a long-standing issue between the two countries. And while Canadian lumber producers, as intended, will feel the impact immediately, so will U.S. homebuilders. The main difference is that it could take U.S. homebuilders up to six months to feel the financial blow.
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Housing industry praises Trump's selection of Pam Patenaude as HUD deputy secretary

Support comes in from all sides
For those in the housing industry, Pam Patenaude’s name is well known. So, it should come as no shock that the housing industry supports the Trump administration’s nomination of Patenaude to serve as the HUD deputy secretary. Declarations of support for Patenaude came in quickly after the White House’s announcement of her nomination, including from some of the housing industry’s biggest groups, and from Patenaude’s potential boss at HUD.
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Trump picks Pam Patenaude to serve as HUD deputy secretary

Currently serves as president of the J. Ronald Terwilliger Foundation
HousingWire Woman of Influence Pam Patenaude was originally shortlisted to serve as the Secretary of the Department of Housing and Urban Development. That position ended up going to Ben Carson, as HousingWire first reported. Now in another HousingWire first, President Donald Trump plans to install Patenaude in the true position of power at HUD – deputy secretary.
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Neat Capital unveils digital mortgage platform, acquires Whole Loan Solutions

Boasts 12-day loan closings
Neat Capital, a Boulder, Colorado-based fintech mortgage lender that focuses on jumbo loans, announced that it launched a digital mortgage platform that offers “fast, transparent, and painless loan approvals” and boasts average loan closing times of 12 days. But that’s not all the company news of the day. Neat Capital also announced that it acquired Whole Loan Solutions.
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The long journey ahead for tax reform and what it means for housing

Finally, some details on the proposed plan
Treasury Secretary Steven Mnuchin and White House Chief Economic Advisor Gary Cohn revealed the Trump administration’s tax plan on Wednesday. So what exactly does the industry know so far? Well, for starters, tax reform, including housing-related tax reform, still has a long road ahead. Even with scarce details, housing associations gave their initial assessments of how the tax reform changes would impact the housing market and homebuyers.
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Mnuchin declares support for Republican Dodd-Frank replacement

Mnuchin: The existing regulatory system is limiting our economy
The Financial CHOICE Act, the Republican-crafted replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act, took its first official steps towards becoming law on Wednesday. And as the bill moves through the legislative process, it will do so with the support of Steven Mnuchin, the secretary of the Department of the Treasury.
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