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Zillow: Student Debt is Not Crippling the Housing Market
National Mortgage Professional, Sept. 17, 2015--Hall, Phil In a bold challenge to what has recently become a widely accepted theory across the housing industry, Zillow is insisting that the record level of student debt carried by recent college graduates is having no impact on one's ability to obtain a mortgage.
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Senators Corker, Warner, Vitter, And Warren Reintroduce Jumpstart GSE Reform Act
The, Sept. 16, 2015 The legislation would prohibit any increase in the guarantee fee--which is required to be charged by government-sponsored enterprises Fannie Mae and Freddie Mac--from offsetting other government spending while also prohibiting the sale of Treasury-owned senior preferred shares in the GSEs without congressional approval and structural housing finance reform.
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Banking Groups Expect to Fight ‘G-Fee’ Raids This Fall
Scotsman Guide, Sept. 16, 2015--Whitman, Victor Housing and banking groups are gearing up for fights this fall over the use of money collected by Fannie Mae and Freddie Mac to insure mortgage-backed securities.
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RBS Agrees to $129.6 Million Mortgage Settlement with U.S. Regulator
MarketWatch, Sept. 16, 2015--Sjolin, Sara Royal Bank of Scotland Group PLC agreed to pay $129.6 million to settle claims by a U.S. regulator that the British lender sold toxic mortgage-backed securities to now-defunct U.S. credit unions, according to the court filing on Tuesday.
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Ocwen Expects to Report Loss in Current Fiscal Year
Mortgage Servicing News, Sept. 16, 2015--Peters, Andy Ocwen Financial said it expects to report a loss in its current fiscal year, as it continues to cut costs amid an investigation of its practices.
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Senate Unanimously Passes Bill to Cap Fannie, Freddie Pay
HousingWire, Sept. 16, 2015 A congressional move to limit the salaries for the CEOs of Fannie Mae and Freddie Mac moved a step closer Tuesday night when the Senate unanimously passed a version of the House's Equity in Government Compensation Act of 2015.
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First, Second Lien Mortgage Defaults Rise in August
First and second lien mortgage defaults both increased in August from July, according to the S&P/Experian Consumer Credit Default Indices.
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Fewer Underwater Mortgage Holders
New York Times, Sept. 18, 2015--Prevost, Lisa The share of underwater mortgage holders dropped by more than half since peaking in early 2012, driven by rising home values at the lower end of the market, a turnaround from last year.
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