Articles by Jacob Gaffney

Dick Bove: Where will the mortgage money come from?

Equity analyst not sure there's an answer
In light of Rafferty Capital Markets equity analyst Dick Bove's obvious bias, there's no denying he has a valid point: the primary source of mortgage financing in this nation is under threat. That threat is not only inaction but political wrong-headedness.
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Close call: Some credit unions barely avoid onerous regulation

At-home offices safe for now
Robin Sidel’s article is titled: “Safe at Home: Small Credit Unions Dodge Rule Requiring Office Space” and opens with the revelation that there are many, many credit unions so tiny they operate out of the owner’s home. Well, those credit unions may have just dodged a bullet, unlike the big bankers.
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Not-so-close call: Bankers face stricter pay rules

Wall Street bankers get new boot heel to neck
Small, work-from-home loan originators at some credit unions dodged the latest regulatory attempt to force them them to open offices. Wall Street bankers, however, aren’t as lucky. At least not when it comes to their $$$.
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Indictment: Killer murdered man and then sold victim's home

Allegedly buried victim in yard
Robert Shumway, a former Dallas Area Rapid Transit driver, bought his house in 1984 and lived there for more than 30 years. And according to an indictment covered in the Dallas Morning News, Shumway was murdered and buried there, too. Read all about the real estate transaction at the heart of this case right here.
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EXCLUSIVE: Fannie Mae completes fresh round of layoffs

Personnel reduction linked to lower distressed assets
Fannie Mae is moving forward with plans to reduce its office space across the Dallas/Fort Worth area. Additionally, the government-sponsored enterprise also started letting staff go as the effects of the housing crisis are still being felt.
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Will PHH accomplish the unthinkable against the CFPB?

Here's how a court victory may change the mortgage biz forever
The PHH tactic represents not only one of the few instances where a mortgage company challenged penalties from the CFPB, but an equally rare case of landing in front of a court that doesn't take the government's side. If PHH wins, it may change the entire regulatory landscape, and here's how.
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