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Metro Milwaukee housing market posts best sales since 2005

National Mortgage News - 2 hours 40 min ago
Sales of existing homes rose slightly in December, helping the metro Milwaukee housing market to its best performance in 12 years.

Buffalo Niagara sets home sales records for highest prices

National Mortgage News - 2 hours 40 min ago
The final results are in, and the Buffalo Niagara housing market set what appear to be records for highest prices and lowest inventory of homes for sale last year, as the robust activity continued all year long.

Credit score changes would saddle banks with risk to help nonbanks

National Mortgage News - 2 hours 40 min ago
Housing regulators should not adopt an alternative credit scoring model until the banking industry is on board.

Two 'zombie homes' demolished in Niagara Falls

National Mortgage News - 2 hours 40 min ago
Two adjoining houses on Sixth Street in Niagara Falls were demolished last week as part of the city's ongoing battle against zombie houses.

CU fights to keep alive lawsuit against Trump’s CFPB pick

National Mortgage News - 2 hours 40 min ago
Lower East Side People's Federal Credit Union's case against the appointment of Mick Mulvaney as head of the CFPB turns on whether it has standing to sue.

CECL: Leverage the data – Reap the rewards of the results

National Mortgage News - 2 hours 40 min ago
The FASB CECL pronouncement changes how institutions look at and calculate reserves for credit losses.

Supreme Court case could affect CFPB constitutionality ruling

National Mortgage News - 8 hours 48 min ago
The Supreme Court agreed Friday to hear a case challenging the appointment of administrative law judges, which could impact a ruling on the constitutionality of the CFPB.

CFPB deputy files appeal in battle to unseat Mulvaney

National Mortgage News - 8 hours 48 min ago
The deputy director of the Consumer Financial Protection Bureau filed an appeal Friday in her battle to oust acting CFPB Director Mick Mulvaney, prolonging the legal fight over President Trump's appointment.

Government shutdown watch: Are enough House Republicans on board?

IEHI News feed - 9 hours 42 min ago
Republican leaders are full speed ahead on a short-term funding bill -- now they just need the votes for it. House GOP leaders are cautiously optimistic they can muster the votes for their short-term funding bill released Tuesday night.

Senate Republicans leaders have convinced themselves Democrats will have to peel off to support the spending package the House would send over. Senate Democrats, for their part, are still keeping their cards close to their chest.

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How does a deal to address the expiring Deferred Action for Childhood Arrivals program get done, asks one senior Republican aide. "No idea. Ask the President. Until he decides what he really wants, nothing moves."

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The Freedom Caucus is precisely why Senate Democrats were mostly keeping their powder dry on Tuesday regarding a possible shutdown. No sense in taking a hard position when, as one aide put it, "House Republicans have a history of stepping on their own rakes."

Caliber first out of the gate with 2018 nonprime jumbo RMBS

National Mortgage News - 11 hours 50 min ago
The $401.2 million COLT 2018-1 is the eighth overall securitization of non-qualified jumbo mortgages issued by the Lone Star Funds affiliate.

Why Wells Fargo still can’t put sales scandal in rearview mirror

National Mortgage News - 11 hours 50 min ago
Weak loan growth, a $3.25 billion litigation accrual and other costs tied to the phony-accounts saga all added up to a messy fourth quarter for the San Francisco bank.

Tax cuts will lead to mortgage boom, right? Wrong, says Dimon

National Mortgage News - 11 hours 50 min ago
The JPMorgan Chase CEO is rejecting arguments that banks are poised to loosen underwriting standards to win more mortgage business. He said what's needed to encourage banks to make more loans to borrowers with spotty credit files are changes to FHA rules and other policy fixes.

U.S. Bancorp, PNC, others fined as Fed ends foreclosure cases

National Mortgage News - 11 hours 50 min ago
The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.

Multifamily housing production finds stable ground in 2018

National Mortgage News - 14 hours 57 min ago
Though multifamily housing starts are projected to slightly moderate this year and next, production levels are expected to remain in a steady range considered normal, according to the National Association of Home Builders.

PennyMac positioning new broker channel to grow into market leader

National Mortgage News - 14 hours 57 min ago
PennyMac Financial Services Inc. is setting up its new mortgage broker channel to target home-buyer and higher-balance loan segments, and eventually become one of the dominant players in the space.

People on the move: Jan. 12

National Mortgage News - 14 hours 57 min ago
Mortgage industry hiring and new job appointments for the week ending Jan. 12.

Chase's mortgage revenue drops on lower servicing returns

National Mortgage News - 14 hours 57 min ago
JPMorgan Chase reported lower mortgage banking revenue in the fourth quarter as the returns from its servicing business declined from the previous year.

Bay Area housing: Over-asking bids are the new normal

National Mortgage News - 14 hours 57 min ago
Back in September, a modest ranch house sold in Sunnyvale for $782,000 over its asking price, signaling that the Bay Area housing market was even crazier than it seemed.

Charlotte home prices aren't going down anytime soon

National Mortgage News - 14 hours 57 min ago
Median home sale prices shot up almost 12% in Charlotte in December compared to 2016, as the supply on the market stayed tight and demand remained high.

Wells Fargo's earnings take yet another big hit from litigation

National Mortgage News - 14 hours 57 min ago
Wells Fargo had another surprise for investors in the form of its biggest legal charge yet, showing the lender is not yet past its consumer banking scandals.