Goldman Sachs agrees to pay $3.15B in FHFA suit

Goldman Sachs agrees to pay $3.15B in FHFA suit

Settlement will resolve RMBS claims

It's settled: Principal reduction is smart policy

How the BofA settlement opened the door

Pavaso CEO: CFPB eClosing mortgage pilot “historic event”

Makes buying a home easier for all Americans
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HW Magazine

August 2014 cover

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August 2014

Volume: 7
Edition: 8
From HW Magazine

The First Director

The FHFA's Mel Watt on the GSEs, and his role in shaping the future of the housing economy
Jacob Gaffney
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance.
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From HW Magazine

Real Estate Crowdfunding

A new, esoteric funding solution space is getting quickly cramped
Amy Macintosh
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing.
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From HW Magazine

Midterms and Mortgage Rates

How the upcoming midterm elections may mean low mortgage rates now, and even lower rates in the future
The clarion call for most mortgage market pundits was pretty unanimous as we headed into 2014: mortgage rates just had to rise. They had to. The Federal Reserve was tapering off its historic support for U.S. mortgage markets, and as the Fed tapered MBS billions of dollars’ worth of supply back onto the (otherwise) free market, prices were bound to fall — leading yields to rise, meaning higher mortgage rates for everyone.
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From HW Magazine

Trulia: Is Buying Second Place a Smart Move?

Company lags Zillow, but markets are always larger than one player
Online real estate is so hot right now. 2013’s hottest stock — out of ALL OF THEM — was Zillow (Z). And it’s a run that has continued unabated into 2014, too, with Zillow’s common shares moving from the low $80/share range in January to above $140/share and a market capitalization north of $5 billion. (HW analyzed investment prospects for Zillow in the February 2014 issue.)
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From HW Magazine

Steve Ozonian has his foot on the gas

An inside view with Carrington's chief real estate officer
Perpetual motion. That’s Steve Ozonian in two words. He’s always moving, and with rare exception, he’s always moving forward. Except for when he’s turning left at 194 miles per hour, of course.
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From HW Magazine

Can immigrants save housing?

With immigration reform stalled, housing professionals look for ways to help undocumented residents achieve the American Dream
Kerry Curry
A surge of illegal immigration over the summer by unaccompanied minors has brought immigration reform and border security into the news in a big way. Still, the dramatic headlines — some claiming a humanitarian crisis — are unlikely to get immigration reform back on track in Congress. For housing leaders — who recognize immigration as a key driver of household formation — lack of immigration reform comes as a big disappointment.
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From HW Magazine

Air Supply

Five trends impacting mortgage liquidity
Stanley Street
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count.
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From HW Magazine

Meeting the Challenge

The CFPB integrated mortgage disclosure rule looms large
Dan Sogorka
The CFPB Integrated Mortgage Disclosure Rule (IMD Rule), which was issued November 20, 2013, and takes effect August 1, 2015, is a sweeping reform intended to benefit consumers and that will have broad industry impacts on how mortgages are manufactured within loan production environments.
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