September 14, 2017
Thursday’s Advocacy & Think Tank Roundup
- Deutsche Bank is adamant about their role in following all the rules when issuing mortgage bonds. In fact, the mega bank accuses the government of “concocting a baseless theory of fraud.” The bank maintains the government’s claim is meritless, incorrect, and unfair. However, the government believes the bank engaged in a fraudulent scheme during the financial crisis through there mortgage bond procedure.
- Fannie Mae is continuing their sell of performing loans. Their recent sale garnished many bidders; however, MTGLQ secured the re-performing loans. MTGLQ is a subsidiary of Goldman Sachs and in recent years has bought a number of loans from both government sources and public sources. Their latest buy included $2.43 billion in re-performing loans which totaled approximately 10,000 various loans. Spectators agree, the lucrative subsidiary is buying loans by the “truckload.”
September 14, 2017 | Permalink | No Comments
September 13, 2017
Wednesday’s Academic Roundup
- Did QE Lead Banks to Relax Their Lending Standards? Evidence from the Federal Reserve’s Lsaps, Kurtzman, Luck, and Zimmermann
- The Mortgage Rate Conundrum, Justiniano, Primiceri, and Tambalotti
- Competing for Deal Flow in Mortgage Markets, Aiello, Garmaise, and Natividad
- Law, Institutions and Economic Development: Examining the Development of the Home Mortgage Market in India- Can Two Wrongs Make a Right?, Khanna
- How Have Banks Been Managing the Composition of High-Quality Liquid Assets?, Ihrig, Kumbhat, and Weinbach
September 13, 2017 | Permalink | No Comments
September 12, 2017
Tuesday’s Regulatory & Legislative Roundup
- President Trump wants to ensure Americans are able to succeed after experiencing disasters. Recently, the president approved a 15.2 billion dollar relief and recovery bill aimed at helping residents of Texas and Louisiana after Hurricane Harvey, small businesses to aid in administering loans after disasters, and to continue its development of the Community Development Block Grant Disaster Recovery.
- According to Houston’s Housing Authority, the cities affordable housing units were extensively damaged by Hurricane Harvey. Over 6,000 single family homes were destroyed and over 80,000 severely damaged. Approximately 35,000 Houston residents now live in shelters. Some counties throughout the city believe their areas will need more than nine months to fully recover from the impact of Harvey.
September 12, 2017 | Permalink | No Comments
September 11, 2017
Monday’s Adjudication Roundup
- Local Michigan real estate developers are unhappy about the stall in their plan to develop Detroit’s basketball arena. Not only are the duo developer organizations asking the court to dismiss the suit against them by local residents, they also requests sanctions against the residents. The developers allege the lawsuit is frivolous and has no legal or factual merit.
- The town of Newton, New Jersey is not out of the clear yet. Recently a state judge revived a suit against the town. An owner of an apartment building in the town challenged the town’s property assessment policies and rules. Upon the next hearing, the Court will render a decision regarding the timelines of the property owners challenge and the town’s compliance with New Jersey tax law.
September 11, 2017 | Permalink | No Comments
September 8, 2017
Friday’s Government Reports Roundup
- The Consumer Financial Protection Bureau (CFPB) studied an array of scenarios and determined that “reverse mortgage loan costs” are greater than any increase in Social Security benefits homeowners receive throughout their life due to a delay in the release of the aid. The report also notes that homeowner equity diminishes as the seniors grow older. In the end, these homeowners have limited options in purchasing a new home later in life and handing financial shifts.
- The Center on Budget and Policy Priorities released fact sheets to assist U.S. residents with affordable housing. To date, approximately five million Americans participate in affordable housing programs. These released fact sheets support these Americans by detailing the users and people in need of aid in each state. Further the sheets provide low income housing locations and the sources of federal funding.
September 8, 2017 | Permalink | No Comments
September 7, 2017
Thursday’s Advocacy & Think Tank Roundup
- A researcher from Harvard’s Joint Center for Housing Studies names two lessons regarding Housing after Hurricane Harvey. Lesson one is rebuilding “residential properties” is time consuming. Lesson two is owned homes will be built faster than rental properties. Jonathan Spader gleans these lessons from the aftermath of both Hurricane Katrina and Rita. One reason for the slower erection of rental homes is due to landlord choice and access. For instance, if a landlord owns a home and a rental property, he or she may rebuild their home before rebuilding another’s home.
- Wells Fargo, America’s third largest bank, is in the news yet again. A whistle blower is accusing the bank of making consumers pay higher mortgage rates. Specifically in Beverly Hills, Ca, homeowners were encouraged to pay higher rates in order to avoid a prolonged process when refinancing their homes. Allegedly, loan officers in the branch are responsible for these unfair practices.
September 7, 2017 | Permalink | No Comments
September 6, 2017
Wednesday’s Academic Roundup
- Historical Antisemitism, Ethnic Specialization, and Financial Development, D’Acunto, Prokopczuk, and Weber
- A New Framework for Achieving Free Expression and Speech in the Evolving and Reconceptualized Shopping Mall of the Twenty-First Century, Korngold
- The Effect of Green Retrofitting on US Office Properties: An Investment Perspective, Geltner, Moser, and van de Minne
- Stabilizing the System of Mortgage Finance in the United States, Koss
- The Federal Home Loan Bank System: A Bibliography, Reiss
September 6, 2017 | Permalink | No Comments
