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    Morgan Stanley will hand out hundreds of millions of dollars in consumer relief and fork over hundreds of millions more to state governments as part of $3.2 billion settlement over its “deceptive” mortgage bond practices in the run-up to the financial crisis, the New York Attorney General’s Office said Thursday. Click the headline to read more.

Items Tagged with 'NAR'

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NAR: Inventory shortages push homeownership further out of reach

And it’s not going away anytime soon
A lack of housing inventory continues to stifle the housing market, making it difficult for potential homeowners to get on the property ladder. And according to the latest quarterly report from the National Association of Realtors, the problem is not going to subside anytime soon, impacting more than first-time homebuyers.
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Pending home sales barely increase, driven by surge in the Northeast

There’s a silver lining for potential homebuyers
After a series of declines, pending home sales, while small, posted a slight increase, largely fueled by a surge in the Northeast. On the positive side, NAR’s chief economist, said that the silver lining from the market turmoil in recent weeks is the fact that mortgage rates have stayed low.
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Existing-home sales surge in TRID aftermath

NAR President: Near-term challenges still prevalent
The immediate impact of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule in October is quickly coming to light as existing-home sales bounce back after November’s steep drop. But before celebrating, NAR President Tom Salomone cautioned that data is still showing longer closing timeframes, which is a reminder that the near-term challenges they anticipated are still prevalent.
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Despite decrease, existing-home sales maintain healthy pace

NAR: “Cooldown in October was likely given”
Although total existing-home sales decreased 3.4% to a seasonally adjusted annual rate of 5.36 million in October, Lawrence Yun, NAR chief economist, said a sales cooldown in October was likely given the pullback in contract signings the last couple of months.
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Pending home sales continue to cool off in September

Hit second lowest reading in 2015
Pending home sales continued to cool off in September, dropping for the second-straight month. According to the National Association of Realtors' chief economist, a combination of factors likely led to September’s dip in contract signings.
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Home sales beat expectations in September

September marks 12 months of consecutive annual sales gains
Existing-home sales bounced back very strongly in September, up 4.7% to nearly reverse the prior month's revised decline of 5%, a drop that now looks like an outlier on a steadily rising slope.
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White House absolutely wrong to threaten veto of TRID bill

A weakened administration looks to flex itself for no good reason
The White House is threatening to veto a wholly bipartisan House measure that would simply create a formal “hold-harmless” grace period for lenders and others in the industry operating under the new and incredibly complex TILA-RESPA Integrated Disclosure rule. Because reasons or something.
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