Economist: Here's why mortgage supply and demand isn't normal

Economist: Here's why mortgage supply and demand isn't normal

What has recovered or is close to being recovered?

CFPB responds to criticisms of consumer-complaint database program

Bureau answers questions raised by HousingWire, Mercatus and trade groups

Mercatus: CFPB shouldn’t create open consumer-complaint database

Info would be unfair, inaccurate, costly and without statutory authority
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The Ticker

FHFA, HSBC reach $550M settlement over mortgages

Involves private-label mortgage-backed security laws
Brena Swanson
The Federal Housing Finance Agency announced a settlement for $550 million with HSBC North America Holdings, related companies and specifically named individuals, resolving claims that it violated private-label mortgage-backed security laws.
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Treasury to sell more of its stake in Ally Financial

Government down to 13.8% share in former mortgage lender
Trey Garrison
The U.S. Department of the Treasury today announced the completion of the first pre-defined written trading plan for Ally Financial common stock.
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Pension funds can sue Moody’s and Standard & Poor's

Credit-rating agencies in hot seat
Brena Swanson
The state Supreme Court ruled on Wednesday that California’s public employee pension system can sue Moody’s and Standard & Poor’s for hundreds of millions of dollars due to the high ratings they gave to investments that collapsed in 2007 to 2008.
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Russia’s only cat-based mortgage lender sanctioned by U.S. Treasury

U.S., E.U. up ante in standoff over pro-Russian separatists
Trey Garrison
You can still get a cat with your mortgage from Sberbank in Russia, you just can’t do business with them if you’re American.
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Consumer sentiment edges up on long-term expectations

Softness in current conditions expectations suggests flat September
Trey Garrison
Consumer sentiment is on the rise this month, climbing to 84.6 versus a final August reading of 82.5 and a mid-month August reading of 79.2 – but buried in there is a decline in the current conditions component which suggests consumer activity won’t be up in September.
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Banks hesitant to embrace mortgage solution

Nonbanks to fill in gap?
Brena Swanson
The government released a new proposal for Fannie Mae and Freddie Mac to start purchasing more low-income refinancings in order to show support for such loans. But there is one problem: banks are unlikely to jump on board with the idea.
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NRBA President Michael Krein auctioned off to highest bidder

NRBA members raise money in charity auction
Ben Lane
Krein was auctioned off four times for a total of $44,000. In total, the NRBA raised nearly $62,000 for the Make-A-Wish Foundation.
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Fewer lenders securitize jumbo mortgages

Reap profits by keeping loans on record
Brena Swanson
While the secondary mortgage market for jumbo loans is doing worse than a year ago, it could be good news for borrowers. Instead of selling mortgages on the secondary market, large lenders are now keeping them on their books.
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assure360 acquired by ARMA Acquisition

Company plans expansion of service offerings
Ben Lane
The company will now also offer mortgage insurance claims processing, legal and mortgage business process outsourcing services, and technology and document management for litigation law firms.
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Home sales at the $30M price point are going all guns

Ultra-priced homes are flying off the shelves
Trey Garrison
The economy and housing are picking up – at least if you’re a multimillionaire and buying or selling a $30 million home.
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