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Mortgage Compliance

Is Mulvaney Gutting The CFPB?

Will the Consumer Financial Protection Bureau (CFPB) become a mere shell of its former self? Appears so, if Mick Mulvaney, its current Acting Director, has his way. Since its creation, the financial institutions that it regulates have decried that the CFPB is overbearing in pursuing its mission to protect consumers. CFPB’s approach has been to regulate by enforcement of laws…

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Mortgage Industry Trends

A Little Potpourri of Mortgage Info

According to Fannie Mae’s recent Mortgage Application Survey, loan apps are up for the second straight week. Ironically, although rates are rising, refinance loan applications rose 2% over last week, while purchase business dropped by 1%. While that was going on, home prices overall rose by about 6% and rates for conforming conventional loans increased to their highest level at…

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Mortgage Industry Trends

Why the Decline In Homeownership Rates?

According to a recent Trulia Report, “Where Have All the Homeowners Gone?”, in 90 of the largest 100 metro areas, homeownership rates fell from the levels from 2000 to the levels from 2016. Why? According to Felipe Chacon, Trulia’s Economist and the chief author of the report, neighborhoods that swung to renters from owners or vice versa were influenced by…

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Mortgage Industry Trends

More Home Buyers Flying Blind on Purchases

With home prices rising, a limited inventory, and increased mortgage rates more home buyers are making offers on properties sight-unseen. Home inventories are shrinking and buyer demand increasing makes it more difficult for buyers to find a home. Nearly 20% of the homes recently sold were above their asking price. This trend is expected to continue with the number increasing.…

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