Bloomberg, May 19, 2017–Patrick ClarkThe same young homebuyers who must cope with bidding wars to buy a first home may face a shortage in another key resource: schools for their kids.
Category: Top National News
Can Investors Find Safe Harbor in the Single-Family Rental Sector?
National Real Estate Investor, May 19, 2017–Diana BellThe single-family rental sector continues to mature as an asset class. Despite a proliferation of investors chasing the assets, fundamentals point to continued SFR stability.
Few Big Banks Would Benefit From Key Part of House Reg Reform Bill: CBO
National Mortgage News, May 19, 2017–John Heltman (subscription)In the report on House Financial Services Committee Chairman Jeb Hensarling’s Financial Choice Act, the CBO estimate that “most of the financial institutions that chose to maintain a 10% leverage ratio would be those with assets below $10 billion,” primarily because those institutions already hold leverage ratios in excess of 10%.
Rep. Barr Reintroduces Act to Make CFPB Spending Accountable to Congress
HousingWire, May 19, 2017–Brena SwansonRep. Andy Barr, R-Ky., reintroduced the Taking Account of Bureaucrats’ Spending Act on Friday in attempts to make the budget of the Consumer Financial Protection Bureau subject to congressional appropriations, instead of the Federal Reserve.
Bank of America Settles Lending Discrimination Claims Brought By National Fair Housing Alliance
HousingWire, May 19, 2017–Ben LaneBank of America will contribute more than $400,000 towards fair housing efforts in South Carolina and nationwide as the result of a settlement between the bank and the National Fair Housing Alliance over charges of lending discrimination, the fair housing group announced Friday.
Baby Boomers are Making it Harder for Millennials to Buy Homes
Business Insider, May 21, 2017–Madeline StoneWhile baby boomers make up a much smaller portion of homebuyers, they and millennials may end up competing for the same type of home, despite being in completely different phases of their lives.
Former Chase Mortgage Originator Pleads Guilty
Mortgage Daily, May 19, 2017The U.S. Attorneys Office for the Middle District of Florida alleges that Ross Pickard and his co-conspirators submitted $30 million in fraudulent information and documents to Chase in order to secure loan approvals.
VA Clarifies Appraisal Requirements
Mortgage Daily, May 19, 2017The Department of Veterans Affairs clarified its appraisal requirements on loans secured by properties located in rural areas.
Hirings Planned for New Movement Mortgage Office
Mortgage Daily, May 19, 2017Hundreds of new jobs are expected to be added at Movement Mortgage LLC as a result of the opening of a new operations center in Norfolk, Va.
Why Millennials Are (Partly) to Blame for the Housing Shortage
Wall Street Journal, May 22, 2017–Laura Kusisto (subscription)As young people and builders have shifted their focus toward trendier urban markets, overall housing construction has declined.