Monday Morning Cup of Coffee: What’s the diagnosis for the "sick" housing market?

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A candid look from the perspective of 2 recovering regulators

First-time buyer GSE mortgage loans are getting far riskier

Risk index for agency mortgages for new buyers at series high
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Items Tagged with 'Bank of America'

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BAML hosts 24th annual low-income housing challenge in California

Contest pits colleges against each other in developing biz plans
Trey Garrison
In May, Bank of America/Merrill Lynch is holding its 24th Annual Low Income Housing Challenge in California, challenging students to come up with a business plan to meet the needs of those most in need of affordable housing. Here's why this matters.
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Will unprecedented mortgage lending finally save Detroit?

Bank of America, NACA partner to offer zero-down, below market rate mortgages
Ben Lane
A newly created program, called the “Detroit Neighborhood Initiative,” is based on a partnership between the city of Detroit, the Neighborhood Assistance Corporation of America, the Opportunity Resource Fund and Bank of America, and the program goes to unprecedented lengths to help restore the city to its former glory.
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Here's why force-placed insurance continues to get bad press

Is it time to shut it down?
Lynn Effinger
On the surface of it, most any reasonable person would understand that a mortgage lender has the right to protect its asset if the borrower is not adequately covered by homeowner’s or flood insurance policies. But here's where the controversy comes in.
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Bank of America feeling pretty positive about mortgages

Earnings shows strength in originations
Brena Swanson
After mixed reviews on Bank of America's first-quarter earnings, the lender's mortgage division is holding on strong. Could the bank finally be ready to step up its game in originations?
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Bank of America 1Q net income rises amid stronger mortgage levels

Beats EPS forecasts
Brena Swanson
Bank of America reported first-quarter net income of $3.4 billion after a net loss of $276 million last year. The surge in growth can be attributed to stronger mortgage origination levels.
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Ocwen is no longer the nation's largest subprime mortgage servicer

Impact of exit from agency servicing becoming evident
Ben Lane
The impact of Ocwen Financial’s exit from agency mortgage servicing is beginning to materialize. According to a recent report from Fitch Ratings, Ocwen is no longer the country’s largest prime mortgage servicer. How far have the mighty fallen?
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Supreme Court hears Bank of America case on second mortgages

The rule on second mortgages and bankruptcy
Brena Swanson
In an interesting turn of events, a Bank of America case to decide whether homeowners can erase underwater second mortgages through bankruptcy quickly changed its course, turning into a debate over whether the U.S. Supreme Court should overturn the precedent that raised the issue in the first place.
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Small business optimism rises despite slow in consumer spending

Skilled jobs getting harder to fill
Trey Garrison
Small businesses are optimistic in the face of early 2015 headwinds. Here’s why.
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The U.S. homeownership rate is much worse than you think

They’ve adjusted the measure just like they did unemployment
Trey Garrison
Everyone knows that the homeownership rate is down, but thanks to some adjustments to the way it’s measured, it may be that things are worse than previously suspected.
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From HW Magazine

Big banks, big returns?

Some of the nation's largest financial institutions offer better deals at low risk
The real no-brainer, however, is to look at how the bank performed in the last downturn. Invest in one that not only didn’t need a bailout but one that didn’t take major risks for the sake of short-term versus long-term gains.
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