News

HOA fees rose the most in these top metros

One city saw increase of more than 75%
One of the few things that may be increasing faster than home prices is homeowner association fees, which increased at double the rate of the median home price from 2005 to 2015. In some of the most expensive markets, HOA fees can total over $500 per month, and take up more than 40% of monthly housing costs. Trulia’s new study shows markets that saw the highest increase.
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CFPB may fall under new executive order to reorganize executive branch

New power put in the hands of the OMB director
Unlike previous executive orders that did not apply to the Consumer Financial Protection Bureau, President Trump signed an executive order granting additional powers to either rework or eliminate "components of agencies, and agency programs." However, one expert says it’s not that simple to overhaul the CFPB.
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More Americans optimistic about economic future – except Democrats

Survey shows Democrats believe recession is imminent
Consumer confidence increased once again at the beginning of March. In fact, all signs of optimism in the market are up, with the exception of one demographic. Democrats optimism is so low it signals the economy is soon to move into a recession, according to the Survey of Consumers from the University of Michigan.
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Is the CFPB in dire need of a new direction?

Which could mean a new director
Readers don’t have to go any further than HousingWire’s search function to see the constant dialogue around the uncertain future of the Consumer Financial Protection Bureau. Regulation is king in mortgage finance, and right now the No. 1 industry watchdog is in limbo as the court and government try to overhaul its future. So where does this leave people in mortgage finance? These four CFPB and regulation experts have the answers.
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Kroll Bond Rating Agency names Van Hesser as head of financial institutions group

Replaces recently departed Christopher Whalen
Earlier this week, Kroll Bond Rating Agency announced the departure of Christopher Whalen, who served as senior managing director and head of research. One of Whalen’s roles was as the head of the company’s financial institutions, and the company announced Thursday that it found a replacement for Whalen from within its own ranks.
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MBA: Trump’s budget shows political statement of priorities

Not just because of funding cuts
The Mortgage Bankers Association explained President Donald Trump’s proposed budget shows housing is not a priority for the administration. The MBA explains it’s not just the cuts to HUD that show the president’s focus. The lack of housing direction in the budget can be just as telling as the funding cuts.
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Here's what Ben Carson thinks about the proposed $6.2 billion HUD budget cut

HUD Secretary issues brief statement about budget proposal
In a move first hinted at over a week ago, President Donald Trump released his budget proposal on Thursday, complete with a proposed $6.2 billion cut to the funding for the Department of Housing and Urban Development. So, what does HUD Secretary Ben Carson think of the cuts to HUD’s budget? For one, he’s in favor of them.
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Urban Institute: HUD watchdog is wrong on borrower-financed down payment programs

Says HUD-OIG misunderstands, overstates issue
A recent report from HUD's watchdog said that HUD does not have sufficient oversight of borrower-financed down payment assistance programs for FHA-insured loans, which puts borrowers and the FHA’s flagship insurance fund at “unnecessary risk.” Analysts from the Urban Institute reviewed the report as well, and came to a different conclusion: HUD’s watchdog is wrong to call out the down payment assistance programs.
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