News

Case-Shiller: Home prices set 30-month high in December

All 20 of largest U.S. cities saw seasonally adjusted price increases
Home prices rose to their 30-month high in December and at their fastest pace in over 2.5 years, according to the latest Case-Shiller results. The Indices’ chairman explains why rates are rising so rapidly and if the speed of increase is a reason for alarm.
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Bank fights for stake in PHH case to battle CFPB authority

"We are cautiously optimistic"
State National Bank of Big Spring, Texas won’t back down easily. The bank continues to try and weigh in on the landmark case between PHH and the Consumer Financial Protection Bureau. Despite motions from other parties being denied, Competitive Enterprise Institute General Counsel Sam Kazman said they are “cautiously optimistic” that their recent motion to intervene will be approved.
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Fired HUD aide to Ben Carson softens stance on Trump

Let go for criticizing the president
After being fired earlier this month for being critical of President Donald Trump during the campaign, Shermichael Singleton, who was one of Ben Carson’s top aides at HUD, went on CNN for an interview as a follow-up to his controversial op-ed. For Singleton, time has helped change his stance on Trump.
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SoFi officially locks in $500 million investment led by Silver Lake

Brings SoFi’s total equity funding to $1.9 billion
SoFi locked in another massive funding deal, being it’s total equity funding to $1.9 billion. While the deal includes a familiar name, it’s private-equity firm Silver Lake that led the deal. Mike Cagney, SoFi co-founder, chairman, and CEO, touches on where the online lender plans to go from here.
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Ten-X predicts fall in February’s existing home sales

Limited inventory starts to take its toll
Existing home sales shot up in January, but don’t expect the following months to follow suite. At least, not according to Ten-X’s Nowcast prediction. And from the looks of January’s pending home sales, the report is on the right track. As one expert put it: you can’t buy a home that’s not for sale.
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NAFCU to CFPB: Pull credit unions out from under your authority

Credit unions continue cry for regulatory relief
Credit unions got looped in with the rest of the industry after the financial crisis, falling under the new industry watchdog dubbed the Consumer Financial Protection Bureau to ensure such extreme lending would never happen again. The only problem is that credit unions believe they never contributed to the crisis.
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Warren Buffett gives us all an update on his stake in affordable housing

Time for annual, public letter to Berkshire Hathaway shareholders
Every year billionaire investor Warren Buffett releases an annual letter to Berkshire Hathaway shareholders, unraveling the inner workings of his conglomerate’s performance. The 29-page document details the status of Clayton Homes, which specializes in manufactured homes, a key industry in fixing the affordability crisis.
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