Lending

Fifth Third exec Jelena McWilliams to become FDIC chair

Former Senate staffer confirmed to replace Martin Gruenberg
President Donald Trump’s remaking of the country’s financial regulatory system is about to take another step forward, as another of Trump’s handpicked choices is about to take over at one of the nation’s top financial regulators. On Thursday, the Senate voted to approve Jelena McWilliams to take over as the next chair of the Federal Deposit Insurance Corp.
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Fed changes tune on raising interest rates this year

Minutes reveal more dovish approach
The Federal Reserve has been forecasting an average two to four interest rate hikes in 2018, however the minutes from its latest meeting reveal a more dovish approach. As the Fed raises concerns over recent trade tariffs, the chances of there being four rate hikes in 2018 falls.
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President Trump signs Dodd-Frank rollback into law

Republicans hope to extend regulatory relief to small bankers
President Donald Trump signed a major Dodd-Frank rollback into law Thursday, hoping to bring regulatory relief to community banks across the U.S. The president explained Dodd-Frank’s costly regulations gave large banks a negative advantage at the cost of small banks throughout the country.
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Freddie Mac: Mortgage rates haven't risen this consistently in 40 years

Highest sustained climb since 1972, at least
Mortgage rates haven't risen this consistently to start a year in more than 40 years, according to Freddie Mac’s latest Primary Mortgage Market survey. “Through May, rates have risen in 15 out of the first 21 weeks, which is the highest share since Freddie Mac began tracking this data for a full year in 1972,” Freddie Mac Chief Economist Sam Khater noted.
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Boise poised at the right angle for housing growth

Idaho's biggest MSA mixes population growth and low unemployment for strong projected appreciation
Treasure Valley, indeed! The data used for the VeroFORECAST shows the Boise-Nampa MSA has a very tight 1.7 months supply of homes, meaning that if no listings were added and demand continued at the current rate, everything currently for sale would be gone in about seven weeks. 
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Mortgage applicants may not always be intentionally fraudulent

Lenders should arm themselves to know the difference
[Op-ed] Information is shared rapidly but information is only information. It does not mean it is accurate information. Investigation is usually warranted. Communication is key. Speak to colleagues, managers, borrowers, title, and ask questions about anything that doesn't make sense. 
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Opendoor expands home trade-in program to all builders

Company launches Homebuilder Program beyond its pilot
Opendoor, an online marketplace that buys homes directly from homeowners, announced this week it has expanded its Homebuilder Program beyond its pilot and is now available to all homebuilders. Homeowners using the program can sell their existing home to Opendoor and be connected with a homebuilder that will build them a new home, all in one transaction.  
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