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

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 un-paid 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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Homeowner awarded million-dollar mortgage settlement

Will homeowner ever receive a dime?
July 21, 2014
What's unusual is the sheer size of the settlement, which PHH Mortgage Services is fighting and other lawyers say is excessive. Lawyers for Philip Linza said the award included $514,000 in compensatory damages and $15.7 million in punitive damages.
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BB&T profits fall on weak mortgages

CEO blames underwriting costs
July 21, 2014
It's been a bad quarter for the bank. According to MarketWatch, the Winston-Salem, N.C.-based bank's profit fell to $425 million from $547 million a year earlier. On a per-share basis, the bank earned $0.58 compared with $0.77 a year earlier.
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Where is Ellie Mae moving?

Second-quarter earnings coming soon
July 21, 2014
After experiencing a temporary service outage of its origination system back in March, Ellie Mae is posting strong improvements and actually moving into a new headquarters to accommodate its growing workforce.
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Happy 4th birthday Dodd-Frank! Everyone hates you

How effective has Dodd-Frank really been?
July 21, 2014
"As a Davis Polk & Wardwell LLP progress report on the legislation indicates, the deadlines for 280 rulemaking requirements have passed, as of July 18," analysts from SNL Financial write in a new report. “Of those, 127 deadlines were missed. Of the 398 total required rulemakings contained in the bill, 96 have yet to be proposed."
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