Trending Thursday: More McMansions, Ferguson home values and more

Trending Thursday: More McMansions, Ferguson home values and more

Plus the real truth about whether renters really want to buy

Exclusive: Redfin’s chief economist answers 5 tough questions

Nationalizing the GSEs, the silver bullet for Washington policy and more

HUD: Associated Bank ‘redlining’ settlement largest ever

HUD Secretary Castro says settlement “sends a strong message”
W S

News

JPMorgan Chase reportedly laying off 5,000 employees

Cuts would represent at least 2% of bank’s staff
Ben Lane
JPMorgan Chase is set to lay off approximately 5,000 of its employees as part of cost-cutting measures. The job cuts reportedly already began earlier this year and would represent at least 2% of the bank’s staff.
Read More

CoreLogic expands building permit database

Now features 35 different permit types
Ben Lane
CoreLogic, a property information, analytics and data-enabled services provider, announced Thursday that its building permit database now features 35 different permit types, covering 65% of the U.S. residential and commercial market.
Read More

CFPB, DOJ take action against Provident Funding for discriminatory lending

Could pay $9 million in damages
Brena Swanson
In the latest investigation by the Consumer Financial Protection Bureau and the Department of Justice, they filed a complaint against Provident Funding Associates for charging higher broker fees on mortgage loans to African-American and Hispanic borrowers. The lender could potentially pay $9 million in damages if the court accepts the order.
Read More

Real estate investor gets 7 years in $15M mortgage fraud scheme

Complex conspiracy involved money laundering, straw buyers
Trey Garrison
A real estate investor was sentenced to 84 months in prison for conspiring to defraud financial institutions and launder stolen funds as part of a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos.
Read More

Michael Jackson’s Neverland Ranch hits the market for $100 million

Sadly, the amusement park rides are gone
Ben Lane
The California manse that was once the home of the late, great Michael Jackson is now available for sale. The price tag for the property once known as “Neverland Ranch”? $100 million.
Read More

First American launches “most comprehensive” property research website

Company says DataTree is built on industry’s largest property database
Ben Lane
First American Financial, a provider of title insurance, settlement services and risk solutions for real estate transactions, announced the launch of a new property research website, which the company said is “built to be the fastest, most comprehensive and easiest to use property research solution on the market.”
Read More

Bipartisan coalition in Congress wants grace period for TRID enforcement

CFPB should allow good faith period to work out bugs
Trey Garrison
Democrats and Republicans in Congress came together to encourage the Consumer Financial Protection Bureau to enact a grace period for enforcement of the TILA-RESPA Integrated Disclosure rule, for which much of the industry is not prepared. Will they get it?
Read More

New York Fed: Americans still positive on housing

Not much has changed since 2014
Brena Swanson
Good news — Americans are still positive on housing. A new survey from the Federal Reserve Bank of New York shows that Americans still view homeownership as a good financial investment.
Read More

Simplifile adds two new settlement agent services

Connects settlement agents and lenders
Brena Swanson
Simplifile added two new services, Collaboration and Post Closing, to its online platform to ease the communication process between lenders and settlement agents.
Read More

Trending Thursday: More McMansions, Ferguson home values and more

Plus the real truth about whether renters really want to buy
Trey Garrison
People want the suburbs a little closer, renters tell what they really want, the New York Fed spots a real trend, Wall Street is starting to sweat the FIFA scandal, and so much more in this week's Trending Thursday. You don't want to miss a word. Read on.
Read More