Alarming details charged in the collapse of Butler & Hosch

Alarming details charged in the collapse of Butler & Hosch

Lawsuits allege phony billings, bogus invoices and millions in fake accounts receivables

Digital Risk: These 10 charts fully explain Millennials and home buying

70% will want a mortgage within 5 years

EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

Butler & Hosch sale, Dustin Johnson lawsuit severely impacted firm
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Investments

SEC fines hedge fund advisor for inflating mortgage bond prices

AlphaBridge Capital Management clients charged higher fees
Ben Lane
The Securities and Exchange Commission fined a Connecticut-based hedge fund advisory firm for fraudulently inflating the prices of residential mortgage-backed securities in hedge fund portfolios it managed.
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Trending Thursday: CFPB data collection worse than the NSA?

Slowly but surely GSE shareholders cutting into Treasury, FHFA secrecy
Trey Garrison
If you liked the NSA spying on innocent Americans, you’ll love what the CFPB is up to. Plus, is the mortgage industry ready for the coming surge of minority homebuyers, Dodd-Frank is turning five this month, and more.
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U.S. employers added fewer jobs than expected in June

Hourly earnings flat, more drop out of workplace driving down rate
Trey Garrison
On the surface the employment numbers for June look positive, but even a cursory glance below the headline shows that the unemployment rate only ticked down because of yet more dropping out of the workforce. Meanwhile, wage growth was flat. Want to know more?
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RealtyTrac: All-cash sales at lowest since late 2009

Institutional investor share at 15-year low
Trey Garrison
Just under a quarter – that is 24.6% – of all single family home and condo sales in May were all-cash purchases, down from 28.5% in the previous month and down from 30.4% a year ago. Distressed sales are drying up. Want to know more?
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Steven Cohen’s Point72 Asset Management discloses passive stake in Nationstar

Now owns more than 5% of nonbank
Ben Lane
A filing with the Securities and Exchange Commission revealed that Point72 Asset Management and its founder, billionaire Steven Cohen, own more than 5% of Nationstar Mortgage Holdings.
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Moody’s Analytics: Single-family rental growth will accelerate

Biggest growth in western, southern markets
Trey Garrison
Single-family home rentals since the housing bubble burst nearly a decade ago have seen massive growth, according to a new look from Mark Zandi, Moody’s Analytics’ chief economist — but there's more to come. Here's why.
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Fannie, Freddie CEOs get a well-deserved huge boost in pay

It's about time
Jacob Gaffney
Early last month, the wheels were set in motion to increase CEO compensation of the government-sponsored enterprises to a level similar to CEOs doing the same jobs at other companies. The FHFA director wants this but the White House doesn't. The FHFA is right. Here's why.
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From HW Magazine

Smoking gun?

What a Treasury memo reveals about its intentions for GSEs and investors
Trey Garrison
The Treasury document also contradicts statements made a number of times by Treasury officials about the capital ratios that Fannie Mae and Freddie Mac would have to maintain. The document claims the percent is 3% to 4%, while statements since then have claimed 10%.
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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.’
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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.
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