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Mortgage Servicers Face Added Legal Risks with Autodial Calls
Scotsman Guide, Feb. 16, 2016--Whitman, Victor Since this past summer, mortgage servicers have been at greater risk of getting slapped with a class-action lawsuit or stiff fines for making unwanted robo calls, legal analysts say. In February, the Mortgage Bankers Association wrote to several housing regulators, pointing out the conflicts created by federal policy on autodial calls.
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Why Nonbank Lenders Are the Future of Mortgages
National Mortgage News, Feb. 16, 2016--Whalen, Christopher As commercial banks retreat from many markets that banks entered in the 1990s and 2000s, nonbanks are going to take up the slack and grow into many areas of consumer finance.
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How Did Reverse Mortgages Get Such a Bad Reputation?
Forbes, Feb. 16, 2016--Pfau, Wade Some aspects of reverse mortgages' bad reputation are based on misunderstandings, some aspects were true in the past but have since been mitigated, and some aspects may still remain.
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Quicken Loans is Stepping Up Its Fight Against Government Lawsuit over Mortgage Fraud
Plain Dealer (Cleveland), Feb. 16, 2016--Dixon Murray, Teresa Now that its lawsuit against the government was dismissed, Quicken Loans plans to step up efforts to fight the government, which has accused the the mortgage giant of approving bad loans just to make money.
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Minneapolis Fed Chief: Break Up the Too Big to Fail Banks
National Mortgage Professional, Feb. 16, 2016--Hall, Phil In his first speech as the new president of the Minneapolis Federal Reserve, Neel Kashkari took on a strikingly political edge by complaining about the limits in enforcing the Too Big to Fail aspect of a Dodd-Frank Act. Speaking at the Brookings Institution, Kashkari noted that his regional Fed bank was taking aim at the issue and then challenged Capitol Hill to do the same.
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N.Y. Governor Creates Anti-Discrimination Housing Program
National Mortgage News, Feb. 16, 2016--Passy, Jacob New York Gov. Andrew Cuomo (D) launched the Fair Housing Enforcement Program, aimed at targeting discrimination in rental and home sale transactions.
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Appraisal Volume Rises 3 Weeks Straight
HousingWire, Feb. 16, 2016--Swanson, Brena Appraisal volume moved higher for the third consecutive week, increasing 4.2% for the week of Feb. 7, said a la mode, an appraisal forms software company that tracks appraisal volume throughout the country.
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Fed to Hike Twice in 2016, Undeterred by External Risks: Reuters Poll
Reuters, Feb. 16, 2016--Ramesh, Aaradhana Growing concerns about weak global growth and inflation are unlikely to deter the U.S. Federal Reserve from tightening policy, according to a Reuters poll that suggested two interest rate hikes are likely this year.
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Warning Light Flashes for the Commercial Property Boom
Wall Street Journal, Feb 16, 2016--Ng, Serena The financial engine of the market for office buildings, hotels and malls is showing signs of strain, raising questions about the resilience of the commercial real estate boom.
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Hotel Investors Check Out Early
Wall Street Journal, Feb. 16, 2016--Karmin, Craig Investors are shrugging off the lodging industry's best fundamentals in years to dump hotel stocks, a move that could signal a broader downturn for the commercial real estate sector.
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Apartment Rents Expected to Keep Rising in 2016
National Real Estate Investor, Feb. 16, 2016--Anderson, Bendix Multifamily rents are likely to keep rising in 2016, just not as fast as before, according to forecasts for the coming year.
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Canada: More Money Down is Law as New Mortgage Rules Take Effect
Hamilton (Ontario) Spectator, Feb. 16, 2016 Canadians looking to buy homes between $500,000 and $1 million will have to put down larger down payments as new federal rules took effect Monday.
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