September 21, 2017
Thursday’s Advocacy & Think Tank Roundup
- Jonathan Spader and Shannon Rieger released a research brief entitled, “Patterns and Trends of Residential Integration in the United States Since 2000,” detailing the trends of U.S. neighborhoods since 2000. To ensure consistency and reliability, the duo defined integration using two definitions. In the end, the pair determined that neighborhoods across America are more integrated today. Specifically, no-majority neighborhoods increased by approximately 2,000 neighborhoods.
- 143 U.S. consumers are at risk due to the Equifax data breach which exposed consumer’s names, social security numbers, and birth dates. As a result, the New York Attorney Genera, Eric Schneiderman,l launched an investigation of the company’s breach. He wants to ensure that such a catastrophic event does not take place at the other two large credit agencies. Further both, Transunion and Experian must detail their security measures in a letter to the Office of Attorney General so that the state can protect it’s eight million consumers which were affected.
September 21, 2017 | Permalink | No Comments
September 20, 2017
Wednesday’s Academic Roundup
- Enhancing Conservation Options: An Argument for Statutory Recognition of Options to Purchase Conservation Easements (OPECs), Cheever and Owley
- Sustainability and Energy Performance in the Real Estate Market, Ciaramella
- In a Low Yield Environment, What’s the Alternative to Traditional Fixed Income Assets?, Schlumpf
- Merchants and the Origins of Capitalism, Fredona and Reinert
- Multivariate Density Modeling for Retirement Finance, Rook
September 20, 2017 | Permalink | No Comments
September 19, 2017
Tuesday’s Regulatory & Legislative Roundup
- The Senate recently confirmed the United States Department of Housing and Urban Development deputy secretary, Pam Patenaude. Patenaude comes with an extensive background. Most recently, she served as the chairman of J. Ronald Terwillinger Foundation of Housing America’s Families where she furthered her real-estate finance expertise and housing issues. One person notes, Patenaude will aid the nation in ensuring more Americans take advantage of mortgage finance credit which will improve the economy.
- California’s housing crisis is on it’s way to discovery. Recently, the California State Assembly passed a number of bills to address the state’s affordable housing issues. The set of bills has two other hurdles, the state’s Senate and governor. The bills also include a four billion dollar bond which will be supplemented by a $75 fee when homeowners refinance their home. Similar plans and programs are also underway to support the financing and sustainability of the program.
September 19, 2017 | Permalink | No Comments
September 18, 2017
Monday’s Adjudication Roundup
- A mortgage holder of a Palm Beach hotel in Florida, filed a claim against a local Florida attorney for securities fraud surrounding an EB-5 visa program. The attorney claims the mortgage holder failed to state a claim upon which relief can be granted. The dispute involves approximately $50 million.
- New Jersey will not allow their residents to be defrauded by anyone. A New Jersey attorney received an eight year sentence. A New Jersey court found her guilty for participating in the “fraudulent filing of mortgages worth $873,520” regarding two distinct properties.
- A mortgage broker duo and their CEO defrauded the government due to their role in filing fraudulent insurance claims. The trio invested in risky loans that did not pan out. Their original verdict amounted to $93 million; however, the Court increased the penalty to $298 million.
September 18, 2017 | Permalink | No Comments
September 15, 2017
Friday’s Government Reports Roundup
- The Government Accountability Office (GAO) recently examined the United States Department of Agriculture’s Rural Housing Service (RHS) depletes all of their funds for renewing rental assistant agreements in the 2013-2015 fiscal years. Three factors led to the depletion, “fiscal year 2013 sequestration and recissions, unreliable methods for estimating rental assistance costs and limited management flexibility.“
- The United States Department of Housing and Urban Development (HUD), Office of Policy Development & Research released a report detailing the characteristics of residents participating in the agency’s assisted housing programs. HUD’s assisted programs include “public housing, project-based voucher units, and housing choice voucher units.” Further the report details the specific housing composition of the agency’s housing stock.
September 15, 2017 | Permalink | No Comments
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
