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MBA Lays Out Plan for a ‘More Vibrant’ Secondary Mortgage Market
Mortgage Professional America, Apr. 25, 2017--Anna SobrevinasThe Mortgage Bankers Association released a detailed plan for GSE reform, calling for more private capital, multiple guarantors and a new federally backed insurance fund.
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Rising Home Prices Raise Concerns of Overheating
Wall Street Journal, Apr. 25, 2017--Laura Kusisto (subscription)The U.S. housing market's red-hot recovery from the depths of the crash five years ago is fueling concerns among economists and real-estate brokers that home prices are overheating.
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VR Headsets are Putting the ‘Real’ in Real Estate
New York Post, Apr. 25, 2017--Lois Weiss New technology and cutthroat competition for tenants have infused commercial real estate projects in New York and beyond with a hefty dose of virtual realty.
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Ocwen Takes Massachusetts, Illinois to Court to Fight Mortgage Restrictions
HousingWire, Apr. 25, 2017--Ben LaneOcwen said last week that it intended to fight back against the state regulators' accusations and business restrictions, and the company did just that on Tuesday, announcing that it is taking the regulators in Massachusests and Illinois to court to fight for its ability to operate within the states.
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Wells Fargo Board Gets Black Eye in Shareholder Vote
Reuters, Apr. 25, 2017--Dan Freed, Ross KerberWells Fargo & Co shareholders showed displeasure with the scandal-hit bank's board on Tuesday, offering scant support for a dozen directors, including Chairman Stephen Sanger, in a vote capping a contentious annual meeting.
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Mortgage Complaints Outperform Overall Complaints
Mortgage Daily, Apr. 25, 2017In March, 27,980 complaints were filed against U.S. financial service providers. Activity increased 7 percent from the previous month, the Consumer Financial Protection Burea said.
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Concern Over Manhattan’s One Vanderbilt Project Grows
Wall Street Journal, Apr. 25, 2017--Peter Grant (subscription)With the Manhattan office market showing signs of softening, some analysts are expressing more concern about the leasing outlook for one of the most high profile new developments in the city: SL Green Realty's 1.7 million square foot tower next to Grand Central Terminal.
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Fannie Makes it Easier for Student Loan Borrowers to Get Mortgages
National Mortgage News, Apr. 25, 2017--Bonnie Sinnock (subscription)Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing similar proposals related to this goal.
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U.S. Bank Fined $15 Million for Bankruptcy Filing Violations
HousingWire, Apr. 25, 2017--Ben LaneThe Office of the Comptroller of the Currency announced Tuesday that it is ordering U.S. Bank National Association to pay a civil penalty of $15 million for what it calls "bankruptcy filing violations" that occurred between 2009 and 2014.
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Flagstar CEO Running Mortgage Business
Mortgage Daily, Apr. 25, 2017Flagstar Bancorp Inc. reported a drop in income before taxes during the first quarter.
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