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Commentary: The Fed Just Made a Gigantic Mess
CNBC, Sept. 22, 2015--Insana, RonThe Federal Reserve is creating a negative-feedback loop with its mixed messages on interest rates and it is messing with the markets.
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Small Banks May Be Unfairly Burdened By Regulations, Brad Ashford Says
Omaha World-Herald, Sept. 22, 2015--Epley, cole As U.S. banks continue to face new regulations in the wake of the 2008 financial crisis, Rep. Brad Ashford, D-Neb., on Monday questioned whether it makes sense for a community bank with $250 million in assets to be subject to the same requirements as an institution 10,000 times bigger, with $2.5 trillion.
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Multifamily Debt Reaches $1T in Q2
GlobeSt.com, Sept. 22, 2015--Bubny, Paul Outstanding commercial/multifamily mortgage debt rose by 1.4% during the second quarter, with multifamily debt hitting $1 trillion, the Mortgage Bankers Association said Tuesday.
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Number of New Mortgages in 2014 Plunges 31% From Year Before
Wall Street Journal, Sept. 22, 2015--Light, Joe Nonbank lenders in 2014 took their biggest share of the mortgage market since at least 1995, new data show, as several large banks pulled back on lending to all but the most pristine borrowers.
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Refinancing a Mortgage to Pay Off Credit-Card Debt
Wall Street Journal, Sept. 22, 2015--Coppola, Alex Low interest rates allowed a young New Yorker to retire her card debt and still pay less on her co-op loan.
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Dodd-Frank is Not Killing Mortgage Access for Home Buyers
MarketWatch, Sept. 22, 2015--Goldstein, Steve New rules designed to make sure borrowers can repay their mortgages haven't curtailed the ability to buy a home, a Federal Reserve study says.
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First-Time Buyer Mortgage Risk Index Climbs Again in August
HousingWire, Sept. 22, 2015--Garrison, Trey The riskiness of first-time buyer agency mortgages stood at 15.55% in August, part of a continuing trend, according to the American Enterprise Institute's International Center on Housing Risk.
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Pimco: Fed ‘May Find it Impossible’ to Escape Lower Bound of Rates
Reuters, Sept. 22, 2015--Ablan, Jennifer Bond fund giant Pacific Investment Management Co said on Tuesday the pace of Federal Reserve interest-rate increases is likely to be even more gradual than the firm expected in March and that the U.S. central bank may find it impossible to escape the effective lower bound of policy rates.
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WATCH: Hollywood’s A-List Brings Subprime to the Silver Screen
HousingWire, Sept. 22, 2015--Gaffney, Jacob Flashback to the 2008 timeframe where the subprime debacle was just taking hold. Enter into that the cast of characters who bet against the big banks, and potentially, the American economy to get rich while the Empire crumbled. Add in a couple of Hollywood A-listers and you get The Big Short movie, based on the book by Michael Lewis.
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MBA’s Stevens: New Wells Fargo FHA Loan Credit Overlays No Surprise
HousingWire, Sept. 22, 2015--Swanson, Brena Concerns from the Mortgage Bankers Association President and CEO David Stevens over HUD's proposed changes to the Federal Housing Administration's loan requirements are becoming a grim reality.
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Ginnie Mae Eyes New Cash Requirements for Nonbank Lenders
National Mortgage News, Sept. 22, 2015--Collins, Brian Ginnie Mae may soon raise its liquidity and cash requirements for independent mortgage banking firms since it seems almost certain that Congress won't increase the agency's budget for fiscal year 2016.
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