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Disbarred New York lawyer gets 3 years for phony ticket resale, real estate schemes

Fraudulently told investors he'd buy Super Bowl tickets, New York real estate
A disbarred New York attorney will spend more than three years in prison after being convicted on multiple charges stemming from his involvement in a ticket resale fraud scheme and a real estate investment fraud conspiracy that cheated multiple victims out of more than $3 million.
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Fannie Mae, Freddie Mac look for more ways to share credit risk

GSEs provide update on risk-sharing programs; seek input on front-end deals
The federal government is looking for additional methods and mechanisms that it can use to transfer credit risk currently borne by Fannie Mae and Freddie Mac, and therefore the American taxpayers, to private investors. Here's a breakdown of the history of Fannie and Freddie's risk-sharing deals, and a look at what the GSEs want to do next.
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Mortgage bond investors finally get paid $8.5 billion Countrywide settlement

Five-year wait to receive settlement funds is over
Last month, mortgage bond investors moved one step closer to ending their five-year wait for their money from an $8.5 billion settlement involving Bank of America, mortgages originated by its Countrywide unit, and the Bank of New York Mellon. At the time, a report suggested that the aggrieved bondholders would receive their money in June, and according to a new report from Fitch Ratings, that’s exactly what happened.
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NBA players schooled on real estate investing by former stars

Warned to be cautious of "cutthroat" investors
For most NBA players, their playing careers are over just as the rest of us are settling into our chosen professions. The difference between them and us (in addition to, you know, athletic ability) is that, in some cases, they’ll retire with a lot of money and a lot of time on their hands. So what will they do with their money and their time? For some former players, investing in real estate becomes their game of choice, but that game comes with a lot of risk.
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Experts revise GDP rates, in different directions

But they agree on one thing: The Fed will raise rates this year
Experts disagree on the impact that the Brexit will have on U.S. GDP growth, with Capital Economics predicting a rebound in growth while Goldman Sachs revised their prediction down slightly. The one thing they can agree on? The Fed will still raise rates this year.
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New York adopts "sweeping" new laws to tackle foreclosure problems

Will fight rise of zombie homes; new rules imposed on lenders, servicers
While the U.S. Senate could soon consider new rules governing the maintenance of foreclosed homes and the glut of "zombie homes" that blight many communities throughout the country, the state of New York is taking the matter into its own hands. Late last week, New York Gov. Andrew Cuomo signed "sweeping" legislation to reform the state’s foreclosure process and address the state’s issues with zombie homes.
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Capital Economics: Economy nears full employment

Brexit to provide little economic impact
The recent low jobs report and Brexit decision could cause economic uncertainty. However, a recent report from Capital Economics shows there is nothing to fear. In fact, the economy is nearing full employment and GDP continues to increase.
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Monday Morning Cup of Coffee: #Brexit fallout; what’s happening and what’s next?

More on the impact U.K. vote to leave European Union; other news of note
Well, it was all #Brexit all the time, all weekend long. Here, in your Monday Morning Cup of Coffee, are more views of the impact of the United Kingdom's shocking decision to leave the European Union behind, both in the long-term and the short-term. Plus, what some U.S. lenders are doing right now to take advantage of the post-Brexit world. For all that and more, click the headline.
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Consumer sentiment down even before Brexit news

Drops in June
Just hours after the news that British voters decided to leave the European Union, the U.S. released its monthly consumer sentiment report for June, revealing that consumers already had a slightly dimmer view of the economy before the Brexit news.
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