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Top National News

HUD Says 55,000 Children Could Be Displaced Under Trump Plan to Evict Undocumented Immigrants
Washington Post, May 10, 2019--Tracy JanHUD acknowledged that a Trump administration plan to purge undocumented immigrants from public housing could displace more than 55,000 children, all of whom are legal U.S. residents or citizens.
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Home Inventory Was Flat in Q1 as Listings Lingered on Market
HousingWire, May 10, 2019--Kathleen HowleyThe U.S. inventory of homes for sale was flat in the first quarter, compared with a year earlier, the first time since 2016 there wasn't a decline, according to a Trulia report.
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Equifax Sets Aside Nearly $700 Million for Expected Data Breach Payouts
HousingWire, May 10, 2019--Ben LaneAs part of its first quarter earnings release, Equifax CEO Mark Begor disclosed that the company set aside $690 million during the first quarter that includes the losses it expects to take in connection with a "potential global resolution of the consumer class action cases and the investigations by certain federal and state regulators."
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Crapo, Brown Probe Facebook over Financial Data Collection
American Banker, May 10, 2019--Neil Haggerty (subscription)Leaders of the Senate Banking Committee are probing Facebook on its data collection and how it shares the information with financial firms to market products to consumers.
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Tech in the CRE Space–a Talk with Bruce Oliver
Mortgage Media, May 10, 2019Bruce Oliver, MBA associate vice president of commercial real estate finance policy, says the commercial real estate space trails the residential space when it comes to making use of new technology to any large degree--but that's going to change.
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Zillow Mortgage Unit Takes a Loss as Expenses Outweigh Strong Demand
National Mortgage News, May 10, 2019--Brad Finkelstein (subscription)Zillow's new mortgage division experienced better-than-expected customer demand in the first quarter, but it was outweighed by expenses that led to a pretax loss of $9.6 million for the period.
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Ginnie Mae’s MBS Issuer Shift Creates ‘Greater Risk of Loss:’ GAO
National Mortgage News, May 10, 2019--Paul Centopani (subscription)The Government Accountability Office called on Ginnie Mae to undertake four reforms to its operations, citing concerns regarding the ongoing shift in size and capitalization of mortgage-backed securities issuers.
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Fannie and Freddie Back More Mortgages of Those Deeply in Debt
Wall Street Journal, May 13, 2019--Ben Eisen (subscription)The gatekeepers of the American mortgage market are increasingly backing loans to borrowers who have heavy debt loads, highlighting questions about mortgage risk as policy makers debate ways to change the system.
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As CFPB Mulls Privatizing Database, Consumer Complaints Mount
American Banker, May 12, 2019--Kate Berry (subscription)In the wake of the massive data breach at Equifax, it was not surprising that financial consumer complaints sent to the Consumer Financial Protection Bureau shot up by nearly a quarter in 2017. But last year, complaints kept climbing.
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Today’s New Buyers Want Smaller Houses, Closer In
UExpress, May 10, 2019--Lew SichelmanIn something of a throwback to the 1920s, a new minimalist trend, in which less is more, may soon be taking hold in new-home design. At the same time, some builders will be heading deeper into urban and close-in suburban spots where location will be the primary amenity.
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