Lunch & Learn: The State of Housing

As housing supply dwindles, affordability concerns grow while competition heats up the market. This Lunch & Learn will examine the current state of housing, featuring experts who have an eye on the market.

HousingWire Annual Virtual Summit

Join us on October 25 for a chance to see a handpicked selection of sessions from HousingWire Annual along with technology demos from the most innovative tech companies! Register now for FREE to experience HW Annual just like you were there.

How credit scores impact lenders’ pipelines in a purchase market

When a lender works with a borrower to improve their credit score, they are able to offer the most competitive rate and terms. Learn more here!

Volly’s Grant Moon on challenges facing veterans

In this episode of HousingNews, we are joined by Grant Moon who discusses the difficulties veterans face during the home-buying process and misconceptions about VA loans.

Investments

Deutsche Bank massive RMBS penalty gets cut in half

Justice reduces $14B fine substantially

Deutsche Bank announced last week that it finally reached a settlement in principle with the Department of Justice in connection with the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007.

Deutsche Bank initially fought the larger charge of $14 billion; the latest figure puts the penalty in the $7 billion range.

Under the terms of the settlement agreement, Deutsche Bank agreed to pay a civil monetary penalty of $3.1billion and to provide $4.1 billion in relief to American homeowners.

“The consumer relief is expected to be primarily in the form of loan modifications and other assistance to homeowners and borrowers, and other similar initiatives to be determined, and delivered over a period of at least five years,” Deutsche Bank said in a statement.

“The settlement is subject to the negotiation of definitive documentation, and there can be no assurance that the U.S. Department of Justice and the bank will agree on the final documentation,” the statement added.

Deutsche Bank expects to record pre-tax charges of approximately $1.17 billion in the financial results for the fourth quarter as a result of the civil monetary penalty. 

3d rendering of a row of luxury townhouses along a street

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