Articles by Brena Swanson

Rising interest rates become double-edged sword for mortgage-banker profits

Cost to close keeps getting cheaper
The recent growth of independent mortgage bank profit hit a speed bump when mortgage interest rates started to steadily increase toward the end of 2016. Now, despite the surge in profit at the start of 2016, independent mortgage bank profit is struggling. But rising interest rates aren't all bad news for the bottom line.
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Spotlight on what new HUD budget will do to LA's homeless housing efforts

Future of section 8 housing in LA
The city of Los Angeles just started to get the ball rolling on its efforts to solve its homelessness crisis. However, due to President Donald Trump’s new budget proposal that would severely cut costs for the Department of Housing and Urban Development, the city’s homeless efforts might not go according to the original plan.
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An inside look at why one Fed president voted not to raise interest rates

Thoughts from Minneapolis Fed President Neel Kashkari
Minneapolis Fed President Neel Kashkari is the only Federal Reserve official who voted against raising the existing target range for the federal funds rate during the March meeting. Kashkari, in a rare move, explained his reasoning in a blog post on Medium. In his words, “Given that I reached a different conclusion than my colleagues, I thought it appropriate to provide an explanation.”
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[Video] Rep. Hill: It's a good time to reassess the impact of Dodd-Frank

Echoes recent comments from Hensarling
In light of President Donald Trump’s budget proposal, House Financial Services Committee Majority Whip French Hill, R-Ark., went on record about his thoughts on the HUD budget. Included in his interview, Hill gives his thoughts on regulatory reform, echoing recent comments from the chairman of the House Financial Services Committee.
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CFPB may fall under new executive order to reorganize executive branch

New power put in the hands of the OMB director
Unlike previous executive orders that did not apply to the Consumer Financial Protection Bureau, President Trump signed an executive order granting additional powers to either rework or eliminate "components of agencies, and agency programs." However, one expert says it’s not that simple to overhaul the CFPB.
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Is the CFPB in dire need of a new direction?

Which could mean a new director
Readers don’t have to go any further than HousingWire’s search function to see the constant dialogue around the uncertain future of the Consumer Financial Protection Bureau. Regulation is king in mortgage finance, and right now the No. 1 industry watchdog is in limbo as the court and government try to overhaul its future. So where does this leave people in mortgage finance? These four CFPB and regulation experts have the answers.
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[Charts] NAR survey breaks down problems plaguing appraisal industry

Including what’s happening with appraisal trainees
Not only does the appraisal industry have problems, but there is also a lot of disagreement around what exactly those problems are. This new survey of appraisers from the National Association of Realtors should help give more insight on what’s going on. What will it take for the appraisal industry to start training future appraisers?
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Here's why Goldman Sachs is snatching up delinquent mortgages

Bank dominates Fannie Mae non-performing loan sales
Goldman Sachs’ purchase of a portfolio of non-performing loans from Fannie Mae earlier this week marked only the latest in a long string of purchases of severely delinquent home loans from the government-sponsored enterprise. The major purchase spree, however, is part of a larger plan for the mega bank. In particular, it deals with its $5 billion settlement announced last year.
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Attempt two: loanDepot reconsiders filing for IPO?

Withdrew first IPO consideration back in 2015
A little more than a year after it withdrew its Initial Public Offering, loanDepot is reported to once again be considering the possibility of a stock offering. When loanDepot announced that it canceled its IPO, loanDepot CEO Anthony Hsieh said, “While an IPO continues to be an option, perhaps one day in the future, it’s not a necessity.” Could now finally be the right time for the company?
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