Google prepares to launch mortgage comparison tool

Google prepares to launch mortgage comparison tool

“Compare” service for mortgages already in use in the U.K.

Definitely the best Beige Book coverage on housing and mortgage finance

Thank you, Vince Vaughn

Goldman Sachs just nailed millennial homebuying

Publishes animated graph day before housing conference
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Articles by Jacob Gaffney

Goldman Sachs just nailed millennial homebuying

Publishes animated graph day before housing conference
Jacob Gaffney
Anyone need to know everything about millennials, homebuying, and their spending profiles? Oh, but you only have less than 60 seconds? Head to this hugely educational, animated graph on the Goldman Sachs website.
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Bloomberg: CFPB wrong to stop racist auto dealers

There is no unintended discrimination with car loans
Jacob Gaffney
First of all, let’s set one thing straight: discrimination is rampant in the credit markets. Period. There are heavy-handed guidelines in the mortgage lending space that deal harshly with racist housing institutions. That there is no federal proxy for auto lending is nothing short of pitiful.
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Morgan Stanley pays $2.6 billion in mortgage-bond settlement

Linked to subprime-era RMBS
Jacob Gaffney
Morgan Stanley said it reached an agreement in principle with the United States Department of Justice and the United States Attorney’s Office for the Northern District of California to pay $2.6 billion to resolve certain claims the financial enforcers intended to bring against the investment bank.
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Kroll: Fannie & Freddie were, are and will always be GSEs

Investor lawsuits “without merit”
Jacob Gaffney
“Equity investors in Fannie Mae and Freddie Mac rightly complain about a lack of due process and transparency in how the affairs of the GSEs have been managed, but such is life in a liberal democracy.”
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Freddie Mac CEO: Don’t expect low down payment mortgage craze

Limited to borrowers with “very good income”
Jacob Gaffney
Donald Layton, the chief executive of Freddie Mac, is feeling positive about the new 3% down payment mortgage option the government-sponsored enterprise is launching next month. But, it’s not the type of positivity one might expect.
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So what if Putnam increases investment in “morally reprehensible” Ocwen?

Since when did stock investing become sanctimonious?
Jacob Gaffney
Ocwen is cheap in every sense of the word, especially when compared to Nationstar and Walter Investment. But, we've already seen it probably has more than enough capital to see itself through this crisis.
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Huffington Post: 4 reasons to ignore the CFPB mortgage tool

A disservice to homebuyers?
Jacob Gaffney
Borrowers will no doubt be drawn to the mortgage rate tool from the Consumer Financial Protection Bureau when it comes time for them to do some home shopping. On the Huffington Post, Jack Guttentag, professor of finance emeritus at the Wharton School of the University of Pennsylvania, gives several perfect reasons for why they shouldn’t do that.
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Here’s the real reason college grads aren’t getting homes

The debt cycle goes psychological
Jacob Gaffney
The Fed is looking for solutions, but so far it has more questions than answers, and though it clearly wants to reform the system, it doesn't yet know how. Time, however, is running out.
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Judge denies BofA request for new mortgage hustle trial

Rules Countrywide fine should stick
Jacob Gaffney
A federal judge in Manhattan said a $1.27 billion fine against Bank of America over an old mortgage-lending program known as Hustle should stick.
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WATCH: Famous televangelist gives terrible reverse mortgage advice

Let's clear this up for Maria
Jacob Gaffney
In Pat Robertson’s world, there is only one kind of reverse mortgage and that is the Home Equity Conversion Mortgage from the Federal Housing Administration. And, he knows little about it. Nonetheless, he goes right ahead and fires away.
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