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Mortgage Rate Volatility Expected in the Coming Months
Washington Post, Dec. 7, 2017--Kathy OrtonMortgage rates moved higher this week after the U.S. Senate passed its version of the tax bill. But global and domestic events may push them back down.
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U.S. Cracks Down on Firms Making Predatory Mortgages to Veterans
Bloomberg, Dec. 7, 2017--Joe LightThe actions, which were announced Thursday, stem from a probe by Ginnie Mae, a government-owned corporation that guarantees payment on $2 trillion-worth of mortgage-backed securities. Its bonds include loans made through the Department of Veterans Affairs as well as other federal programs meant for low-wealth or rural borrowers.
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Freddie Mac: Borrowers Opt for 30-year Mortgages as Short-Term Rates Increase
HousingWire, Dec. 7, 2017--Kelsey RamírezLong-term mortgage interest rates increased this week, but despite the increase the gap between long and short term interest rates continues to narrow, according to Freddie Mac's Primary Mortgage Market Survey.
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Drivers of Investment Success for 2018
Commercial Property Executive, Dec. 6, 2017--IvyLee RosarioThe commercial real estate industry has had an evolving year. From sustainability and increases in interest rates to the effects of a changing administration, the market has experienced a mix of positive and negative moments.
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Positive Sentiment on Housing Could Be Tested by Tax Reform
National Mortgage News, Dec. 7, 2017--Brad Finkelstein (subscription)While consumer optimism about the nation's housing market returned to near-record levels in November, it could be tested in December as they digest the impact of tax reform.
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Ginnie Limits VA Refinances to Address Churning
Mortgage Daily, Dec. 7, 2017On Thursday, the government-owned corporation announced restrictions for streamline and cashout refinances being pooled into Ginnie Mae I Single Issuer Pools and Ginnie Mae II Multiple Issuer Pools.
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FHA Raises Loan Limits for 2018
Mortgage Daily, Dec. 7, 2017On Thursday, HUD issued Mortgagee Letter 2017-16 indicating that the FHA floor limit on forward mortgages for next year on one-unit properties will increase to $294,515 from $275,665 in 2017.
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Here are Five Ways to Improve the CFPB
Orange County Register (Calif.), Dec. 7, 2017--Jeff LazersonAccording to the Mortgage Bankers Association, compliance costs have increased $1,000 per file in the 2012 through 2015 timeline. MBA cites its members' difficulties with regulation by enforcement. It would rather have clear guidance on what the CFPB expects.
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Consumer Bureau Reconsidering Fine Against Wells Fargo for Mortgage Fees
The Hill, Dec. 7, 2017--Sylvan LaneThe acting head of the Consumer Financial Protection Bureau is reportedly mulling whether to go ahead with a multimillion-dollar penalty for alleged mortgage fraud by Wells Fargo.
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Farmer Mac Fires CEO for Violating Company Policies
National Mortgage News, Dec. 7, 2017--Brad Finkelstein (subscription)Farmer Mac has terminated President and CEO Timothy Buzby for violating company policies not related to its financial and business performance.
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Congress Sends Trump Short-Term Spending Bill as Talks Continue
Bloomberg, Dec. 8, 2017--Erik Wasson, Laura LitvanCongress sent President Donald Trump a two-week extension of federal funding that averts a government shutdown this week but defers contentious decisions on spending on defense and domestic programs.
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U.S. Jobless Claims Decline for Third Straight Week
Reuters, Dec. 7, 2017--Lucia MutikaniThe number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting a rapid tightening of the labor market that bolsters expectations the Federal Reserve will raise interest rates next week.
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MAA Quarterly Advocacy Update Dec. 13
The Mortgage Bankers Association's Mortgage Action Alliance Quarterly Advocacy Update takes place Wednesday, Dec. 13 from 3:00-4:00 p.m. ET.
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