August 31, 2017
Thursday’s Advocacy & Think Tank Roundup
- The second quarter presented a triumph unseen since the first quarter of 2015. The Bureau of Economic Analysis reported a 3% increase in the real gross domestic product. This increase is above the prediction of the industry based upon the first quarter’s 1.4 % increase.
- The Mortgage Bankers Association wants to ensure their candidate, Pam Patenaude, is confirmed as the deputy secretary of the United States Housing and Urban Development federal agency. They believe her confirmation is critical and must occur sooner rather than later. Patenaude’s potential role handles “the day-to-day operations” of the regulatory agency and its lack is causing the country harm.
August 31, 2017 | Permalink | No Comments
August 30, 2017
Wednesday’s Academic Roundup
- Credit Growth and the Financial Crisis: A New Narrative, Albanesi, De Giorgi, and Nosal
- Default Risk of Mortgage Credits for Lenders, Opitz
- Collateral Misreporting in the RMBS Market, Kruger and Maturana
- Judging Judicial Foreclosure, Feinstein
- Real Estate Bubbles and Urban Development, Glaeser
August 30, 2017 | Permalink | No Comments
August 29, 2017
Tuesday’s Regulatory & Legislative Roundup
- The United States Department of Housing and Urban Development (HUD) responded to the natural disaster crisis in Houston, Texas. The Federal agency will offer relief to homeowners surrounding mortgage and foreclosure issues. However, homeowners will not be the sole beneficiaries of HUD’s aid, the agency will also assist local governments with funding to ensure its residents will receive the proper relief during these trying times.
- The state of California is attempting to remedy its housing crisis. Currently, the state’s legislature is considering a bundle of bills aimed at aiding the state in its housing crisis. The bundle attempts to assist many residents with affordable housing and provide long-term funding to California’s housing needs. Though the bundle of bills were approved by the state’s Senate, the state’s Assembly has expressed concern over the costs of the proposed housing crisis solution.
August 29, 2017 | Permalink | No Comments
August 28, 2017
Monday’s Adjudication Roundup
- A Florida developer is not giving up on it’s $10 million takings case. Florida’s Department of Environmental Protection won in the Florida court system against the developer; however, the developer petitioned the United States Supreme Court after Florida’s highest court refused to hear the case.
- A Freedom Mortgage Co. former employee filed a suit against the company based on racial discrimination. The employee, alleged Freedom Mortgage Co. made decisions regarding his employment due to his race; however, a Seventh Circuit panel determined the ex-employee lacked sufficient evidence to prove his claim.
- An Illinois construction company is in trouble with the state’s attorney general’s office. The Illinois attorney general office sued Katlia Construction Inc., alleging the company swindled residents out of more than $300,000 for work not completed or work completed below the industry standard.
August 28, 2017 | Permalink | No Comments
August 25, 2017
Friday’s Government Reports Roundup
- The Federal Housing Finance Agency (FHFA) examined housing prices for the second quarter of this year. Across the U.S., housing prices rose 1.6% during the second quarter. Though this is a small increase, over the past year, housing prices have risen a total of 6.6%. Further the study found that housing prices rose in 48 states in the second quarter of 2017.
- The Federal Reserve Bank of Chicago examined the “effects of the 1930’s Home Owners’ Loan Corporation (HOLC) residential security ‘reading’ maps.” The Federal Reserve Bank of Chicago, to no surprise, found that “lower graded areas of the HOLC” encountered more racial segregation which peaked between the 1960’s and 1970’s. Further, the study concluded that the use of these maps altered the dynamic of Chicago communities for years to come although the sole use of the maps were not the cause of segregation.
August 25, 2017 | Permalink | No Comments
August 24, 2017
Thursday’s Advocacy & Think Tank Roundup
- Data resubmission guidelines were released by the Federal Financial Institution Examination Council (FFIEC). These guidelines stem from the Home Mortgage Disclosure Act (HMDA). An institution that experiences errors on more than 10% of their applications, must resubmit the entire Loan Application Register (LAR). New guidelines like these seem burdensome, but will likely lead to better oversight of the application process.
- One may believe military families do not encounter the woes of the housing market; however, the unlikely group is highly impacted by affordable housing. Due to the mandates of their stations, families in the military are not afforded the autonomy of living in the city that most meets their family needs. As a result, they struggle to find housing and due to their low wages and waste their housing stipends on places unsuitable for their family.
August 24, 2017 | Permalink | No Comments
August 23, 2017
Wednesday’s Academic Roundup
- Credit Growth and the Financial Crisis: A New Narrative, Albanesi, Giorgi, and Nosal
- The Time-Varying Price of Financial Intermediation in the Mortgage Market, Fuster, Lo and Willen
- Information Immobility and Learning in Commercial Real Estate Markets, Agarwal, Sing and Wing
- Effects of Macroprudential Policy on Systemic Risk and Bank Risk Taking, Andries, Melnic, and Mutu
- Current Social Obligations of Land Rights on Chinese State-Owned Land, Huang
August 23, 2017 | Permalink | No Comments
