Mr. Frank goes back to Washington

Mr. Frank goes back to Washington

Former Congressman to testify before Congress on Dodd-Frank impact

Happy 4th birthday Dodd-Frank! Everyone hates you

How effective has Dodd-Frank really been?

Monday Morning Cup of Coffee: Former CFPB head eyes White House?

The bubble’s last days; New HUD rule the “Common Core” of housing
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News

Existing home sales in June down 2.3% YOY

Slight uptick from May brings pace to highest since October 2013
July 22, 2014
Existing home sales declined 2.3% in June 2014 from June 2013, reaching an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market, according to the National Association of Realtors.
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Freedom Mortgage originations grow despite industry pullback

Smaller lenders steal more market share
July 22, 2014
As bigger players see a contraction in originations, Freedom Mortgage is recording strong growth.
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JPMorgan's $13B RMBS settlement progress...so far

Bank gives $6M in credited consumer relief
July 22, 2014
After reaching a $13 billion agreement to settle claims regarding the sale and issuance of faulty residential mortgage-backed securities, JPMorgan Chase is now being held accountable to make sure it is staying compliant on all of the requirements.
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Home price growth continues to cool in May

Price slowdown seen in all tiers of homes
July 22, 2014
Home prices rose just 0.4% in May from the previous month, the Federal Housing Finance Agency reported Tuesday, continuing the rapid cool down in price appreciation in the housing market.
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Real Estate Strategies launches low-balance mortgage solution

Closes sale of more than 1,300 mortgage notes
July 21, 2014
Real Estate Strategies, a brokerage firm, closed the sale of more than 1,300 mortgage notes with an average unpaid balance of $75,000, with a new solution that is designed to address lower balance mortgages.
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Alan Doran joins OneTitle as executive vice president

Will lead underwriting, legal and regulatory affairs
July 21, 2014
At OneTitle, Doran will oversee all underwriting, legal, fraud prevention and regulatory affairs for OneTitle and will help drive the company’s continued expansion and success.
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Mr. Frank goes back to Washington

Former Congressman to testify before Congress on Dodd-Frank impact
July 21, 2014
"The kind of terrible mortgage loans…the abuse of mortgage loans that hurt consumers, hurt financial institutions, and hurt the economy…we outlawed them and they haven’t been made since then," former Congressman Barney Frank said in a CNBC interview. "There have been some very real accomplishments."
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People who live in unhappy cities get better housing

Build a better castle to keep the unhappy out?
July 21, 2014
People stuck in unhappy cities get compensated in the form of better housing, or so says a new study. Considering that a large portion of New York housing is smaller than a typical Texas family room, it’s not clear what the compensation is for The Big, Unhappy Apple.
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Judge shoots down FHFA bid to limit discovery, keep docs secret

Judge Sweeney: FHFA cannot evade judicial review
July 21, 2014
A federal court handed Fairholme Funds a huge victory late last week, granting broad access in discovery to FHFA records going back years and reminding the FHFA that it is not above the law.
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Is this why 3.6 million ready homeowners aren’t selling in 2014?

One in three current mortgage holders have a rate below 4%
July 21, 2014
The problem for one in three homeowners is that selling and then buying means surrendering a dynamite mortgage interest rate, which means even if the home they want to buy is about the same price, they end up paying much more per month.
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