Trending Thursday: Housing, mortgage finance getting a break from Washington?

Trending Thursday: Housing, mortgage finance getting a break from Washington?

Plus untying Fannie, Freddie and the whole Gordian knot of conservatorship

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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News

Black Knight: Total loans in foreclosure fall to lowest level since 2008

Foreclosure starts drop 22%; prepayments down 15%
Ben Lane
Housing in America is getting healthier, according to a new report from Black Knight Financial Services. Black Knight released its “first look” at the housing data from April, and the report shows that many indicators are trending in a positive direction for housing.
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USPS now one step closer to providing financial services

New white paper proposes 5 ways for post office to enter banking
Ben Lane
The post office is now one big step closer to becoming a financial institution. A new white paper from the United State Postal Service's Office of the Inspector General lays out a series paths for the post office to enter the banking and financial services sector.
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Ellie Mae report shows continued transition into purchase-driven market

Purchases outpacing refinances again
Ben Lane
As interest rates slowly tick up, purchase originations are now again outpacing refinance originations, according to a new report from Ellie Mae. Here's a look at Ellie Mae's data.
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Fraud enforcement official arrested for mortgage fraud

Feds charge he submitted false application for loan modification
Trey Garrison
The Director of Investigations for the State of Connecticut’s Department of Social Services was arrested on a federal criminal complaint charging him with wire fraud in connection with his submission of a fraudulent application for a personal mortgage modification. This is exactly the story you were looking for.
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Analyst: Housing bubble not a question of if but when

As in, when is it going to implode?
Trey Garrison
Charles Hughes Smith at oftwominds.com warns that the industry may be just two years from an implosion of the bubble we’re in. Also, if you didn’t know, he argues we’re already in an echo bubble from the last bubble. Read on.
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Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance
Trey Garrison
The Senate Committee on Banking, Housing and Urban Affairs passed “The Financial Regulatory Improvement Act of 2015” on Thursday, which will, if it makes it through the bill-making grinder and gets passed into law, bring big changes to the red tape the mortgage finance industry is tied up in.
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MBA Forecast: Here’s why mortgage lending will grow despite weak 1Q

Purchases, not refis, will dominate 2015 and 2016
Trey Garrison
Housing and the general economy got off to a slow start in 2015, but MBA is confident that the drag won't last. They predict that 2015 and 2016 will be dominated by purchase applications rather than refinancings. Here's what they're thinking.
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Zillow: Rents gallop past home values in April

Rents grew at 4% annually while home values saw 3% growth
Trey Garrison
Rents for residential housing in the United States grew at their fastest pace in two years in April, surpassing home values. There’s good news and bad news in this, and a growing gap to come. Want to know more?
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Fannie Mae predicts strong spring homebuying season

Economy looking weaker, but housing is improving
Ben Lane
The economy may not grow at the previously expected rate, but that shouldn’t stop housing from improving in 2015, according to Fannie Mae’s May 2015 Economic Outlook. “Housing is one sector that appears to be building momentum, with leading indicators suggesting the market will experience a strong spring season,” Fannie said.
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Capital One Home Loans adds Desmond Smith as head of sales

Brings more than 20 years of experience to position
Ben Lane
In this role, Smith will join the Home Loans leadership team and will be responsible for building a mortgage sales team throughout the company’s branch footprint, Capital One said in a release.
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