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What CFPB Gained, Lost in Appeals Court Ruling
American Banker, Jan. 31, 2018--Kate Berry (subscription)A federal appeals court handed a major victory - and a significant defeat - to the Consumer Financial Protection Bureau by upholding its constitutional structure while also slapping down the agency's practice of making new interpretations of law through enforcement actions.
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Rising Mortgage Rates Squeeze U.S. Refinancing Activity
Reuters, Jan. 31, 2018--Richard LeongRising borrowing costs are dampening U.S. refinancing activity, with its weekly share of mortgage applications falling to the lowest level since August, the Mortgage Bankers Association said on Wednesday.
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Servicing Capacity in Question as Mortgages Outstanding Grow
National Mortgage News, Jan. 31, 2018--Bonnie Sinnock (subscription)Sustained higher rates could extend the lives of existing mortgages, creating a growing workload for servicers, according to industry vendor Subsequent QC.
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Draft of Senate GSE Bill Emerges
Bloomberg, Jan. 31, 2018--Joe LightThe draft, the result of discussions between Tennessee Republican Bob Corker and Virginia Democrat Mark Warner, gives the clearest view yet into how the senators aim to woo progressive politicians to back their plan for addressing mortgage-giants Fannie Mae and Freddie Mac. Support from those Democrats is likely needed to meet the 60-vote threshold for passing major bills in the Senate.
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The $2.5 Billion Plan to Turn Brooklyn’s Navy Yard Into a Tech Hub
Bloomberg, Jan. 31, 2018--David M LevittAmerica may never recover its glory as a manufacturing powerhouse, but the Brooklyn Navy Yard is doing what it can, transforming itself from a 20th-century warship builder to a 21st-century high-tech hub.
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LIHTC Market Faces ‘Mild Turbulence’ Ahead
National Real Estate Investor, Jan. 31, 2018--Beth Mattson-TeigInvestors and developers in the Low-Income Housing Tax Credit market are adapting to a dramatic drop in pricing over the past year and expecting more uncertainty ahead.
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Agency MSRs Being Auctioned
Mortgage Daily, Jan. 31, 2018Mortgage servicing rights on 1,176 Fannie Mae, Freddie Mac and Ginnie Mae loans with a collective unpaid principal balance of $361 billion are being offered for sale.
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Beleaguered Fintech SoFi Slashes Mortgage Lending Staff
San Francisco Business Times, Jan. 31, 2018--Mark CalveySoFi cut 5 percent of the workers in its mortgage operations this week, primarily affecting the fintech's offices in Healdsburg and Utah.
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Walter Investment Will Stay in Bankruptcy a Little Longer than Expected
HousingWire, Jan. 31, 2018--Ben LaneAccording to Walter, it now anticipates exiting bankruptcy no earlier than Friday, Feb. 2. Walter originally filed for bankruptcy back in December.
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CEO of Banned Lender Seckel Capital Charged with Lying to HUD
HousingWire, Jan. 31, 2018--Ben LaneThe Department of Justice announced Wednesday that it is charging John Seckel with four counts of making false statements to HUD.
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U.S. Private Sector Added 234,000 Jobs in January
Wall Street Journal, Jan. 31, 2018--Austen Hufford (subscription)Firms across the country added 234,000 workers in January, according to payroll processor Automatic Data Processing Inc. and forecasting firm Moody's Analytics.
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MBA National Advocacy Conference Apr. 24-25
The Mortgage Bankers Association's annual National Advocacy Conference takes place Apr. 24-25 at the Capital Hilton in Washington, D.C.
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