Jacob Gaffney

Jacob Gaffney

Jacob Gaffney is the Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.

ARTICLES

Citi keeps moving away from the mortgage business

Credit cards are where it's at
Citicorp net income increased to $3.5 billion, from $2.8 billion in the prior year period, primarily driven by the higher revenues as well as lower operating expenses and lower cost of credit. However, this isn't due to expansion in the mortgage market.
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These housing experts will answer all of your Trump questions

Join us for a FREE webinar and Q&A
As the guard changes in Washington, so does the housing and mortgage finance industries we rely on for making our living. Do you have questions on what the Trump mortgage nation will look like? The editorial department at HousingWire gathered housing finance experts to answer all your questions. Don't miss your chance to get in on the action, completely FREE.
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Mnuchin transition team defends OneWest mortgage operations 

Cites two clear examples of exemplary modification behavior
Back in 2013, an internal memo, recently published by The Intercept, urged top officials in then-Attorney General Kamala Harris’s office to sue OneWest Bank over allegations of foreclosure violations in the state of California. Donald Trump’s nominee for Treasury secretary, Steve Mnuchin, ran OneWest Bank from 2009 to 2015. And now, a spokesman for him on behalf of the presidential transition team is calling that leaked memo "meritless."
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Former CFPB attorney pretty much just confirmed the worst fears of the mortgage industry

We may be right, after all
In "The Tragic Downfall of the Consumer Financial Protection Bureau," Ronald Rubin, a former enforcement attorney at the Consumer Financial Protection Bureau and former chief advisor on regulatory policy at the House Financial Services Committee, highlights what he calls the heavy politicization of the CFPB. In doing so, Rubin also just confirmed the worst fears of the mortgage industry.
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Echo app gives buyers a new way to search for houses

"Alexa, open real estate"

Michael DeMasi, a reporter for the Albany Business Review, profiled Miguel Berger, president of Better Homes & Gardens Real Estate Tech Valley in Colonie, New York. Berger and his son developed software for Amazon's virtual assistants — Echo, Echo Dot and Tap — that gives buyers a hands-free way to search for homes, DeMasi explains.


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Investors rethink crowded Trump trade

Sell stock, buy bonds
The Wall Street Journal's Markets section today discussed a shift from investments in stocks over to bonds. The authors say investors are “recalibrating their conviction” in the Trump trade, a term used to describe market volatility in the wake of the presidential election outcome.
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Senate Democrats miss the mark calling Trump Treasury pick “foreclosure king”

What kind of foreclosures are we talking about here?
According to Jack Guttenberg Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania writing in the Huffington Post, Democrats may find it troubling to get the “foreclosure king” label to stick, primarily due to a level of misreporting in the media.
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