CFPB collecting data on 600 million credit accounts despite privacy, security risks

CFPB collecting data on 600 million credit accounts despite privacy, security risks

GAO report: Weaknesses in CFPB ability to assess data collection, oversight troubling

3 burning appraisal questions for the CEO of Veros

This is what Darius Bozorgi means

Ginnie Mae launches 5 new initiatives to increase mortgage lending

HUD secretary warns American Dream remains out of reach
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Single GSE bond is coming, but when?

FHFA, GSEs provide update at ABS East
Ben Lane
“The CSP is a very important goal of the enterprises,” FHFA Senior Associate Director Robert Fishman said. “We have made real progress on the software build, but development will continue for quite a while. This is not a done deal.”
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CFPB collecting data on 600 million credit accounts despite privacy, security risks

GAO report: Weaknesses in CFPB ability to assess data collection, oversight troubling
Trey Garrison
A Government Accountability Office comprehensive study released by the ranking member of the U.S. Senate Banking Committee confirms that the Consumer Financial Protection Bureau is collecting financial data on up to 600 million consumer credit card accounts, without sufficient security and privacy protections to ensure there is no risk of improper collection, use, or release of consumer financial data.
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Investors Unite: No, District Court ruling won’t affect GSE lawsuit

Ruling unconnected to issue of ‘third amendment sweep’
Trey Garrison
A ruling late Friday with U.S. District Judge Amy Jackson holding that Fannie Mae shareholders cannot sue the Department of Treasury in a derivative action may not be the blow to the shareholder case against Treasury that HousingWire first cast it as.
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Ginnie Mae launches 5 new initiatives to increase mortgage lending

HUD secretary warns American Dream remains out of reach
Brena Swanson
While homeownership is the cornerstone of the America dream, the new Secretary of the Department of Housing and Urban Development, Julián Castro, noted that this just isn’t as possible as it used to be for many Americans. But Ginnie Mae is quickly working to combat this.
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3 burning appraisal questions for the CEO of Veros

This is what Darius Bozorgi means
Jacob Gaffney
During a recent panel at the Bipartisan Housing Summit, Darius Bozorgi, the CEO of Veros, indicated that he felt the technological approach of Fannie Mae, Freddie Mac and the Federal Housing Administration should be extended to the rest of the housing industry. Here's what he meant.
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Financial Stability director: SIFI designation is not “too big to fail”

Pinschmidt: “That’s just plain wrong”
Ben Lane
During the Monday keynote address at ABS East in Miami, Patrick Pinschmidt, the deputy assistant secretary and executive director of the FSOC, said that the SIFI designation is designed to bring additional oversight of nonbanks in an attempt to mitigate the impact of a nonbank’s potential failure on the country’s economy.
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Existing home sales drop 1.8% on cash buyer retreat

Annual home sales down 5.3%
Trey Garrison
With cash-paying investors in a full retreat, existing home sales dropped 1.8% in August, according to the National Association of Realtors. "On the positive side, first-time buyers have a better chance of purchasing a home now that bidding wars are receding and supply constraints have significantly eased in many parts of the country,” said Lawrence Yun, NAR chief economist.
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Parents hold key to first-time homebuyer success

"Without them, the recovery’s not sustainable"
Brena Swanson

Due to the growing student debt problem, first-time borrowers are finding it more difficult to afford owning a home. However, while it might be difficult to secure a loan though the bank, a second, closer option is starting to step in and help finance first homes: mom and dad.


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Is it time to ease lending standards?

Housing regulators face tough question
Brena Swanson
Car sales have recovered since the plague of the financial crisis, but the journey has not been as easy for housing. An article in The Wall Street Journal asks the tough question: Should mortgage lending standards ease?
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Monday Morning Cup of Coffee: Judge deals major blow to investors in GSE lawsuit

Fed mortgage stability monitoring nothing more than a myth?
Trey Garrison
Is the case against Treasury crippled? Is the idea of the Fed maintaining mortgage market stability a unicorn? What happens when 3,500 structured finance professionals get together in Miami for three days? Read on and find out.
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