News

Court rejects hedge funds claims in Fannie, Freddie profit sweep

But all is not lost
Fresh off handing down a significant ruling in the battle over the constitutionality of the Consumer Financial Protection Bureau, the U.S. Court of Appeals for the District of Columbia Circuit just dealt a sizable body blow to the investors who claimed that the government’s decision to sweep all the profits from Fannie Mae and Freddie Mac into the government’s coffers was not only unnecessary, but illegal as well.
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myCUmortgage gets into mortgage servicing business

Will provide mortgage servicing to credit unions
Credit unions that want to keep their mortgage servicing within the credit union family now have a new option, as myCUmortgage announced Tuesday that it is launching a mortgage servicing operation. As for why myCUmortgage is getting into the servicing business, the company's president said that most credit union members don’t get a mortgage loan from a credit union expecting that the servicing will be transferred away.
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Guess who just joined the HousingWire free Appraisal webinar?

Hint: He works with the largest mortgage finance entity in the nation
HousingWire is hosting a free webinar next week on the state of the appraisal industry in 2017. We are already getting flooded with questions and, lucky for all of us, Zach Dawson, the director of collateral strategy at Fannie Mae, will join us. Here's how to sign up!
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Hensarling compares CFPB to a tyranny

House Financial Services Committee Chairman continues assault on CFPB
It’s probably safe to say that House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is no fan of the Consumer Financial Protection Bureau. And as Hensarling told the Dallas Morning News in a recent interview, there are plenty of good reasons to change the CFPB.
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California home sales start 2017 on a strong note

Median sales price drops below $500,000 for first time since March 2016
While winter usually means a decline in home sales, California just saw its first increase in home sales between December and January since 2012, a sign that the Golden State could be in for a strong housing year.
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Waterstone Mortgage to ring opening bell at Nasdaq

Executives and 40 loan originators to open day’s trading on Feb. 21
More than 40 of Waterstone Mortgage Corporation’s personnel will ring the opening bell at Nasdaq on Feb. 21, 2017 as part of a ceremony honoring the company’s top loan originators.
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