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  • DOJ planning to sue Moody's over crisis-era mortgage bond ratings

    In the fallout from the financial crisis, many argued that the credit ratings agencies’ competition for business led to ratings shopping among bond issuers and relaxed ratings standards for the ratings agencies themselves. Last year, Standard & Poor's reached a $1.375 billion settlement over just such claims. And now the Department of Justice is taking aim at Moody's Investors Service. Click the headline to read more.

The Ticker

SunTrust sees strong mortgage growth in Q3

Net income sees quarterly and annual decline
SunTrust’s increase in revenue was driven, in part, by an increase in mortgage banking. This may not be surprising, but the bank’s delinquency portfolio, on the other hand, seems to run against the current trend.
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Appraisal volume drops four weeks straight

Four-week average falls into negative territory
Appraisal volume continues to struggle to lift off this fall, with volume now declining four weeks straight. However, on the positive side, the drop is smaller than several previous reports.
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Fifth Third 3Q mortgage results positive sign for rest of industry?

Average residential mortgage lending increases 10% year over year
The mortgage market is projected to perform much better in the third quarter than originally expected. With the third-quarter results in for one of the first lenders, it looks like this could be true. Fifth Third Bancorp not only posted an increase in residential mortgage loan portfolio balances, but it also posted an increase in originations.
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Trulia: Buying a home still cheaper than renting

Price to rent still outpaces rising home prices
Trulia’s new study shows that despite rising home prices, it is still cheaper to buy a home than to rent. While there’s talk about a rate hike this year, Trulia explains why potential homebuyers shouldn’t be concerned.
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Countdown starts now on CFPB’s final mortgage servicing rule implementation

You have one year
Nearly four months after the Consumer Financial Protection Bureau finished the final mortgage servicing rule, it has finally been published in the Federal Register. The long publishing timeline isn't necessarily a bad thing since it gave the industry extra time to adapt to and learn the final rule. Since it's officially published, your one-year countdown starts now.
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Donald Trump's childhood home up for auction

But is the famous connection helping it sell?
Before he became the Republican presidential candidate or a real estate guy, Donald Trump grew up in a significantly smaller home in Queens in New York City. However, the famous connection might not be doing anything to help the home sell.
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