Jeb Bush: Current housing and debt situation unsustainable

Jeb Bush: Current housing and debt situation unsustainable

Is the clock ticking on the 30-year mortgage?

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance
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The Ticker

Former Dallas Cowboy out of prison after serving 3 years for mortgage fraud

Eugene Lockhart jailed for taking part in $20 million fraud scheme
Ben Lane
A former Dallas Cowboys player is out of federal prison after serving three years for taking part in a $20 million mortgage fraud scheme, which involved at least 10 other people who were also convicted. The scheme saw the group recruit straw buyers who falsified their income documents to obtain loans for inflated prices.
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Barclays mortgage bond trader fired for allegedly lying to clients

Yoon Seok Lee “discharged” on Feb. 11
Ben Lane
Barclays Capital fired one of its mortgage bond traders after he allegedly lied to clients about residential mortgage-backed securities trades.
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To Go: Title company closes mortgages on wheels

Mobile closings come to you
A Detroit-area title company is offering what its president says is the area’s first mobile closing vehicle, which brings the closing process to the client instead of the other way around. While mobile mortgage closings are nothing new, this is pretty inventive.
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Lehman Brothers suing over crisis-era toxic mortgages

Asks judge to cancel claims by Syncora Holdings and U.S. Bancorp
Ben Lane
Lehman Brothers Holdings filed suit against Syncora Holdings, U.S. Bancorp and GreenPoint Mortgage Funding in an effort to try to get “duplicate” claims filed by those three companies against Lehman Brothers thrown out because Lehman Brothers is ready to settle and move on.
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Analyst: Housing bubble not a question of if but when

As in, when is it going to implode?
Trey Garrison
Charles Hughes Smith at oftwominds.com warns that the industry may be just two years from an implosion of the bubble we’re in. Also, if you didn’t know, he argues we’re already in an echo bubble from the last bubble. Read on.
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Minimum wage workers can’t afford rent

Affordability out of control
Brena Swanson
The gap between stagnant incomes and rising rents in many parts of the country is growing out of control. Right now, there is no state in the country where someone earning either the state or federal minimum wage can afford a market-rate one-bedroom apartment.
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Auction.com partners with Juwai.com to bring U.S. listings to Chinese buyers

Deal will bring access to Juwai.com’s 2.6M Chinese speaking clients
Trey Garrison
The top real estate portal in China and the U.S. online real estate marketplace Auction.com are joining forces to bring Chinese buyers to American commercial and residential real estate listings. Here’s the deal.
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PropertyRadar: California home sales up 9%

Homebuyers stepping up to the plate
Brena Swanson
California single-family home and condominium sales were up 9% in April mostly due to the 9.2% gain in non-distressed property sales. But before you get too excited, it is still too early in the year to say the California real estate market is off to the races.
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CoreLogic to add 500 jobs in North Texas

Opens new campus
Brena Swanson
Good news for North Texas. CoreLogic could create an additional 500 jobs and attract more workers in the area as part of a larger consolidation in the region.
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HOPE NOW: Foreclosure alternatives significantly outpace foreclosure sales

444,000 homeowners receive non-foreclosure solutions
Brena Swanson
Approximately 444,000 homeowners received non-foreclosure solutions from mortgage servicers in the first quarter of 2015. And as a positive result, the combination of total loan modifications, short sales, deeds in lieu and workout plans greatly outpaced foreclosure sales.
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