Only “Number Jesters” report 2Q economic growth at 4% pace

4 factors weighing down housing in the second half of 2014

Will housing collapse?

Altos: Critics wrong about housing, it’s going to soar

2015 will see notable price appreciation
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The Ticker

BOK Financial posts $76M 2Q net income

Mortgage banking revenue reaches $29M
July 30, 2014
"The quarter’s results reflect the earnings power inherent in our diversified business model, as several lines of business grew this quarter, including energy lending, brokerage and trading, and mortgage banking," Steven Bradshaw, president and CEO of BOK Financial, said.
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Judge orders BofA Countrywide to pay $1.3B for toxic mortgages

Settlement is just over half what feds wanted
July 30, 2014
A federal judge has ordered Bank of America’s Countrywide unit to pay $1.3 billion in penalties for junk mortgages sold to the government sponsored enterprises in the years prior to the 2008 financial crisis.
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3 Fannie policy changes help open credit box

Waiting periods adjusted
July 30, 2014
Fannie Mae updated a handful of its policies regarding significant derogatory credit events, allowing more borrowers to jump back into the housing market.
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FTC: Bill collectors posed as cops to threaten arrest

Tried to collect debts discharged in bankruptcy
July 30, 2014
The latest Consumer Financial Services Alert, from law firm Ballard Spahr, highlights alleged nefarious tactics from bill collectors in New York, including threatening to arrest borrowers.
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REIT definition too broad?

Windstream cleared to form REIT
July 30, 2014
In a strategic move, Windstream was cleared by the IRS to reclassify most of its copper and fiber-optic lines as real estate. But not everyone is supportive of this venture.
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1 in 3 Americans being chased by debt collectors

July 29, 2014
A new report form the Urban Institute shows how weak the U.S. economy is, and offers at least one reason for the housing doldrums — one in three Americans is so far behind in paying their bills that they are in collections.
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HomeStreet sells MSRs, mortgages

Reduces mortgage concentration
July 29, 2014
HomeStreet sold $211 million of its held-for investment single-family mortgages in the second quarter, recognizing a $3.9 million gain.
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Bloomberg: Blackstone rental home bonds have highest LTV

July 29, 2014
Bloomberg real estate ace Jody Shenn reports that Blackstone’s rental home bonds have the highest Loan-to-Value of any on the market.
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CFPB obtains $92M for predatory lending scheme

Service members given false promises
July 29, 2014
The Consumer Financial Protection Bureau and 13 state attorneys general obtained approximately $92 million in debt relief for about 17,000 U.S. service members and other consumers harmed by Colfax Capital Corporation and Culver Capital.
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FHFA extends G-fee input deadline

Seeks industry opinion on G-fee policy
July 29, 2014

The Federal Housing Finance Agency extended its deadline for accepting industry input on Fannie Mae and Freddie Mac guarantee fees to Sept. 8, allowing more time for public comment on G-fee policy and implementation regarding the optimum level of G-fees required to protect taxpayers.


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