Campaign pain: What does this election season mean for mortgage finance?

"From caucus to raucous"
It seems like we've gone from caucus to raucous this election year.  Anyone not bombarded by the rancor is probably hiding under a rock. The rest of us, however, are left wondering not only who will occupy the White House next, but what we're in for. For mortgage and real estate professionals, there's some interesting solace to be found in historical economic data.
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Fitch: Wells Fargo mortgage servicer ratings unaffected by fake account scandal

Ratings agency affirms bank's prime, Alt-A, subprime servicer ratings
While Wells Fargo is fighting to earn back its customers’ trust and fighting off various forays from legislators because of the more than 2 million fake accounts that 5,000 of the bank’s former employees opened in order to get sales bonuses, the bank’s ability as a mortgage servicer is still on solid footing, according to a new repot from Fitch Ratings.
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Here are 5 big insights from the new HMDA data

The state of the mortgage and housing market for 2015
The release of the Home Mortgage Disclosure Act data for 2015 at the end of September gave an important status update on mortgage origination market. Most notably, it showed the market continued to benefit from an improved housing market in 2015. Here are five takeaways from the new HMDA data set, according to one expert economist.
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Feds appeal decision to release #FannieGate memos

Claim that court made severe, irreversible error
The government is now fighting back against the court’s decision that ordered them to release 56 documents to the public that could show that the Treasury took over Fannie Mae and Freddie Mac despite the secondary mortgage market firms being adequately capitalized. Now, however, the government claims the judge made that decision based on a misunderstanding of the principles that govern executive privilege.
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Warren, Sanders, other senators want answers from auditor KPMG on Wells Fargo

Senators question whether auditor knew of fake accounts
Wells Fargo is still answering for the more than 2 million fake accounts that 5,000 of the bank’s former employees opened in order to get sales bonuses, but now, a group of senators want to know if the bank’s auditor knew about the fake accounts too and whether the auditor did anything about it.
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Ellie Mae posts first $100 million revenue quarter

Beats capital consensus
The record-breaking quarters for Ellie Mae are not slowing down. Once again, Ellie Mae reported record revenue, breaking the record that was set last quarter, which actually broke the record set in the quarter prior to that. This time, however, marks the first ever quarter that Ellie Mae posted more than $100 million in revenue.
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