The Ticker

Household debt to hit new record in 2017

All categories of debt increased in Q4
Household debt is set to hit an all-new high in 2017 after showing the largest increase in over a decade. Mortgages made up the majority of household debt in 2016, however student debt is also on the rise.
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Freddie Mac selling off $759 million in non-performing loans

First NPL sale of 2017
Recently, Fannie Mae announced its first non-performing loan sale of 2017, stating that it plans to sell 10,000 delinquent loans with a total unpaid principal balance of $1.76 billion from its portfolio. Fannie Mae’s fellow government-sponsored enterprise announced a NPL sale of its own on Friday.
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Goldman Sachs: Mortgage interest rates will rise to 5.5% by 2019

Current 30-year mortgage rate is approximately 4.15%
The most recent data from Freddie Mac shows that the average interest rate for a 30-year, fixed-rate mortgage is around 4.15%, but interest rates are going to increase by a significant margin over the next few years, analysts from Goldman Sachs said in a new report. Here are the details.
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White House spokesperson: Trump believes CFPB is "unaccountable"

WSJ reports that President Trump disagrees with Court of Appeals ruling
Given the Trump administration’s recent maneuvering to fire Consumer Financial Protection Bureau Director Richard Cordray, it’s probably not a surprise that President Donald Trump disagrees with the U.S. Court of Appeals for the District of Columbia Circuit’s decision to rehear a challenge to the CFPB’s constitutionality.
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MBA appoints two new members to MISMO board of directors

Each elected for two-year terms
The Mortgage Bankers Association named two new industry veterans to the Mortgage Industry Standards Maintenance Organization board of directors. Read for more about the new members: Quicken Loans’ executive vice president and Black Knight’s senior vice president.
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Veros partners with Ellie Mae to offer AMC valuation option

Lenders can now manage their panel of appraisers
Veros partnered with Ellie Mae in order to bring more control to lenders through the appraisal process. Now, lenders can go through the new solution in place of using AMCs. Veros explains this software will help improve efficiency in the loan origination process.
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Judge rules that CFPB can investigate seller-financed home sales

Harbour Portfolio Advisors claimed agency did not have authority
The Consumer Financial Protection Bureau earned a big victory in court Thursday when the Court of Appeals for the District of Columbia Circuit ruled in favor of the CFPB in its fight against PHH. And that wasn’t the only positive result the CFPB got in a federal court this week. A federal judge also ruled that the CFPB can pursue an investigation into seller-financed home sales and the operations of Harbour Portfolio Advisors.
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SoFi to lock in $500 million investment led by Silver Lake

Online lender now valued at more than $4 billion
SoFi is at it again and reportedly nearing a deal to raise $500 million in fresh funds from an investor group led by private-equity firm Silver Lake. This marks another major investment for the online lender after its $1 billion in funding led by SoftBank back in 2015.
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