Ben Lane is the Senior Financial Reporter for HousingWire. In this role, he helps set a leading pace for news coverage spanning the issues driving the U.S. housing economy. Previously, he worked for TownSquareBuzz, a hyper-local news service. He is a graduate of University of North Texas. Follow Ben on Twitter at @BenLaneHW.
The impact of President Donald Trump’s 2018 federal budget proposal would certainly be felt in the housing industry via the 13% cut to HUD's budget, but that’s hardly the only impactful move that the budget proposal holds. Buried on the second-to-last page of Trump’s budget is a move that is sure to please Trump’s fellow Republicans and many in the housing industry as well – gutting the Consumer Financial Protection Bureau.
In many ways, Zillow was one of the leaders in the online real estate revolution, helping to democratize the home buying process and enabling prospective buyers to search for their next home from the comfort of their current home. And now, Zillow wants to revolutionize the way that people sell their homes as well, as the online real estate giant announced this week that it is launching a pilot program called “Zillow Instant Offers.”
The Consumer Financial Protection Bureau’s moment of truth (in the courtroom, at least) is coming this week as the full Court of Appeals for the District of Columbia Circuit is set to rehear the landmark challenge to the agency’s constitutionality brought by PHH Corp. Here's a breakdown of the case and a view of what's coming next.
ServiceLink, the provider of transaction services to the mortgage and finance industries, is getting into the auction business thanks to its parent company buying one of the country’s top auction companies. On Monday, Fidelity National Financial, the title insurance giant and parent company of ServiceLink, announced that it acquired Hudson & Marshall.
A former senior loan officer at JPMorgan Chase Bank admitted in court last week that he took part in a massive mortgage fraud scheme during the height of the mortgage boom that cost the bank more than $33 million. Here are the details.
Bank of America will contribute more than $400,000 towards fair housing efforts in South Carolina and nationwide as the result of a settlement between the bank and the National Fair Housing Alliance over charges of lending discrimination, the fair housing group announced Friday.
A Maryland woman will spend more than the next five years in federal prison after being convicted of stealing the identities of more than 2,000 employees and affiliates of Freddie Mac and using those identities to fund a lavish lifestyle.
The Consumer Financial Protection Bureau’s Office of Enforcement fails to properly secure sensitive, confidential information, leaving the data available to both employees that no longer needed access to the data and former employees who left the bureau, a watchdog report found. Here are the details.
New York is taking homelessness and the state’s lack of affordable housing head-on with an ambitious new program announced Thursday by the state’s governor, Andrew Cuomo. According to Cuomo’s office, the state is launching a $20 billion, five-year plan to combat homelessness and advance the construction of affordable housing throughout the state.
On Thursday, while Department of the Treasury Secretary Steven Mnuchin told members of the Senate about the Trump administration’s plans for housing finance reform, Federal Housing Finance Agency Director Mel Watt said that the heavy lifting on housing finance reform needs to come from Congress.
About a week before the November 2016 election, the U.S. Treasury market started to move lower. The cause of this increase in yield on the benchmark 10-year bond was not fear of an interest rate hike by the Federal Open Market Committee or the specter of higher inflation. No, the outlier event that shook the financial world out of years of torpor was a commercial real estate developer named Donald John Trump.
Fannie Mae’s National Housing Survey found that 37% of senior homeowners felt concern for their finances during retirement, yet only 6% of seniors are interested in utilizing home equity as a financial solution. With $6.2 trillion in home equity to bolster retirement income, why aren’t more senior homeowners taking advantage of products like reverse mortgages?
The time has come for internal workflows to be reimagined or all we’ll end up with is a shiny new chassis with a traditional, manual, cobbled-together process under the hood. I’m talking about the elements that make or break a mortgage transaction, such as valuations, investor requirements and reviews, compliance, surprises at the closing table, paper-based payment systems, onboarding, and the list goes on and on.