Senate banking committee passes massive regulatory relief bill

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance

It's official: NYDFS Superintendent Ben Lawsky stepping down

4 years as leader of “long reach” New York financial regulator
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Investments

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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Ocwen now in full compliance with NYSE

No longer on Late Filter list
Brena Swanson
Ocwen Financial Corporation is no longer on the NYSE naughty list. The nonbank financial servicer is now in full compliance with the New York Stock Exchange, finally putting the company in good graces after months of negative news.
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Monday Morning Cup of Coffee: Setting the stage for higher interest rates

Delinquencies drop, call to delay TRID grows, and housing metrics
Trey Garrison
Lots of changes in markets foreign and domestic are aligning that could press the Fed into admitting weak US data, with a resulting impact on interest rates. Plus, Ginnie Mae has a glitch, and much more. Read on.
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Realtors hoping to be able to fly drones soon

Rules still being finalized by FAA for NAR UAVs
Trey Garrison
There will be a time when Realtors can legally fly an unmanned aerial system, or drone, around property listings to capture images for marketing purposes, but that time has not yet arrived, at least not completely. Read on and prepare for takeoff.
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