The Lede

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PHH to pay $75M False Claims Act Settlement with DOJ
National Mortgage News, Aug. 8, 2017--Brad Finkelstein (subscription)PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on mortgages insured by the Federal Housing Administration and Department of Veterans Affairs, as well as loans sold to Fannie Mae and Freddie Mac.
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Mall Owners Wave a Finger: We’re Not Dead Yet
Wall Street Journal, Aug. 8, 2017--Esther Fung (subscription)Last week, the top mall operators delivered a blunt message to short sellers and naysayers who had expected more gloom for landlords in the bricks-and-mortar retail business: Don't count us out just yet.
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The Best Place for a New Warehouse? An Old Mall
Wall Street Journal, Aug. 8, 2017--Esther Fung (subscription)The pressure for speedy online package delivery is prompting companies to look for distribution facilities closer to residential areas or highways. Some of the best locations, it turns out, are dead malls.
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Why Movement Mortgage CEO Casey Crawford Bought a Bank
Charlotte Business Journal, Aug 8, 2017--Hilary Burns (subscription) Movement Mortgage CEO Casey Crawford bought a bank. He spent the last nine years building his Charlotte-based mortgage bank, which currently employs over 4,000 people. Now he's hoping to build a national online retail bank to give consumers--especially Millennials--another option.
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Residents of an Exclusive San Francisco Street Didn’t Pay Their Taxes. So Someone Bought Their Street
Washington Post, Aug. 8, 2017--Alex HortonCan you buy a city street? Is that even possible?
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Bill Would Give Departing Bank LOs Temp Licenses
Mortgage Daily, Aug. 8, 2017Legislation introduced in the Senate takes bank mortgage originators one step closer to being able to easily transition from a financial institution to a non-bank home lender.
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Impac’s Year-Over-Year Lending, Earnings Tumble
Mortgage Daily, Aug. 8, 2017Impac Mortgage Holdings Inc.'s servicing portfolio has more than doubled over the past year. But year-over-year deterioration was reported for quarterly earnings and originations.
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Aug. 9, 2007: The Day the Mortgage Crisis Went Global
Wall Street Journal, Aug. 9, 2017--Colin Barr (subscription)Ten years ago oday, the first glimpses of the global financial crisis came into view.
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