In the Money

Republican tax plan will trigger another Fannie, Freddie bailout

Reduction in corporate tax rate would impact GSEs’ deferred tax assets
On Thursday, the Republicans finally released their highly anticipated tax reform plan, and as it turns out, the Tax Cuts and Jobs Act could bring a flashback to the housing crisis that many thought they’d never see again – another bailout of Fannie Mae and Freddie Mac, according to an investigation by HousingWire.
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Ocwen moves closer to profitability amid extensive business changes

Posts net loss of $6 million in third quarter
It’s been a rough year for Ocwen Financial, but the company’s executives said Thursday that despite the nonbank posting its 4th straight quarterly loss, they believe they have the company pointed in the right direction. Here's why Ocwen is positive about its future.
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Fannie Mae CEO: We are now devoting attention to mortgage servicing tech

"It's now technically possible to get to fully digital mortgages"
Fannie Mae CEO Tim Mayopoulos told HousingWire Thursday that Fannie Mae remains focused on trying to address frictions in the mortgage finance space. So what does all this mean? Fannie Mae is not just actively engaging with private vendors on the origination side. Indeed, the GSE intends to ramp up similar activities on the servicing side.
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Trump reportedly picks Jerome Powell as next Fed Chair

Experts say will play historic role in housing affordability through the next decade
After much anticipation over who will lead the Federal Reserve after current chair Janet Yellen’s term is up next year, President Donald Trump reportedly made his decision on Wednesday. The administration notified the next Fed Chair of its plans to complete the official nomination Thursday morning. Here’s who Trump chose.
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Mark Calabria: Trump administration "committed" to ending conservatorship

Pence’s chief economist renews commitment for GSE reform
During a wide-ranging discussion about the government’s role in housing, Vice President Mike Pence’s chief economist Mark Calabria revealed Wednesday that the Trump administration is "committed" to ending the conservatorship of Fannie Mae and Freddie Mac. What else did Calabria say? Click through to find out.
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TCF Bank buying Rubicon Mortgage Advisors

Lender operates in Minnesota, North Dakota, California, others
TCF National Bank, a Minnesota-based depository, announced this week that it will acquire Rubicon Mortgage Advisors, a mortgage lender with offices in Minnesota and North Dakota and licenses to operate in South Dakota, Wisconsin, Colorado, and California. The companies say the deal is a win-win. Here's why.
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Fitch, Moody’s bullish on massive Lennar-CalAtlantic merger

Both cite combined company’s size as significant benefit
On Monday, Lennar and CalAtlantic Group announced a deal that will see Lennar acquire CalAtlantic in a deal valued at approximately $9.3 billion. The deal will create the nation’s largest homebuilder. Both Fitch Ratings and Moody's Investors Service are bullish on the deal. Here's why.
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Lennar merger will create nation’s largest homebuilder

Deal with CalAtlantic makes company top 3 builder in 24 of 30 largest markets
It’s turning out to be a year of significant growth for Lennar. Earlier this year, the homebuilder closed on a $643 million acquisition of WCI Communities, a luxury homebuilder headquartered in Florida. But that deal pales in comparison to Lennar’s latest deal.
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