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Open commentary on everything impacting the U.S. housing economy. The opinions expressed here represent the author's alone.

Monday Morning Cup of Coffee: Senate passes major tax reform that impacts every mortgage facet

Real estate, lending, servicing and secondary markets will all change
Tax reform. Tax reform. Tax reform. The big issue facing housing and mortgage finance, by far, is tax reform. The Senate passed its major tax reform Friday night, and now the two parties will need to come to a consensus on which tax bill they will send to the president's desk. For now there is no consensus, or clear guidance, on what tax reform will entail.
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Monday Morning Cup of Coffee: CFPB thrown into disarray with 2 acting directors

Trump vows to revive bureau
Over the long weekend, as you were eating Thanksgiving dinner and standing in long lines for Black Friday, the CFPB erupted into chaos. Two leaders now stand as acting deputies, and no one knows who they should actually follow. Plus, see what experts are forecasting as the biggest changes to the housing market in 2018.
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Here's what the new CFPB director should change

These three areas are critical to the bureau's mission
Richard Cordray is officially out at the CFPB, and although the bureau and the White House are battling it out over who gets to name the interim director, a change in direction is all but assured. Whoever takes the helm at the bureau should use the opportunity to correct some of the most onerous practices at the regulator. Here are three critical steps.
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Housing’s biggest questions going into 2018

Here’s what to watch
Cyber Monday shopping is in full swing, and finding the best deals online sudden starts to take over your screen as work falls to the background. But don’t worry, we have enough in this article to keep you in the know. Here are answers to five of the biggest questions in housing today.
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Preserving homeownership incentives – a national priority in tax reform

Here's a better solution for tax reform
[Expert commentary] The Community Home Lenders Association is very supportive of the goals of the pending House and Senate tax bills of providing tax relief for individuals and corporations and simplifying and reforming the tax code. And if this means reforming existing homeownership tax provisions in order to help finance these tax cuts, that is fine with us.
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Here are the changes to California's Homeowner Bill of Rights you need to know

The New Year brings new changes
[Expert commentary] Riddled throughout California’s Homeowner Bill of Rights are the words "repealed" effective "Jan. 1, 2018." Unfortunately, many loan servicers assume that means the entire HOBR will be repealed and that all they have to worry about going forward is complying with the Consumer Financial Protection Bureau Loss Mitigation Rules. Unfortunately, that is not the case. Check out this in-depth list of changes to look out for.
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Monday Morning Cup of Coffee: Drama heats up in gubernatorial race for Ohio governor

Cities continue to vie for Amazon’s headquarters
Speculation continues to rise over which city Amazon will choose as its second headquarters. Meanwhile, outgoing CFPB Director Richard Cordray’s likely entry into the Ohio gubernatorial race isn’t the only drama surrounding the state’s upcoming election. All that, and more, in your Monday Morning Cup of Coffee.
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Blockchain expert: The future of fintech and innovation in mortgage finance

ComplianceEase Rocks the Climb to the Summit
[Expert commentary] Continue the Climb – the theme of the 2017 ComplianceEase Risk and Compliance Summit – was very appropriate given the regulatory climate and lightning speed at which technology has been and will continue to morph the mortgage industry. Here are the key takeaways from the conference.
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Reforming the mortgage interest deduction: A chance for fairness for American taxpayers?

Republican tax plan opens door to realign housing priorities
[Expert Opinion] By doubling the personal exemption and proposing to halve the mortgage eligible for the deduction to $500,000, House Republican tax proposals have opened the door to a fundamental shift in the tax treatment of housing. This is a rare opportunity to realign federal tax support for housing to help all taxpayers – renters and owners.
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