August 14, 2017
Monday’s Adjudication Roundup
- Homeowners in California are close to receiving what’s owed to them. A San Francisco federal judge approved a preliminary settlement of $750,000 for the bank’s role in their prior loan modifications.
- A D.C. Circuit panel determined a United States Housing and Urban Development (HUD) investigator was potentially harmed by the agency’s refusal to approve a lateral transfer. In a sudden shift, the court recently reversed its prior ruling.
- A township is excited. A New Jersey state appeals court ruled that a Montclair homeowner will not have its attorney’s fees paid by the municipality. This ruling stems from the construction of an assisted living facility.
August 14, 2017 | Permalink | No Comments
August 11, 2017
Friday’s Government Reports Roundup
- The United States Department of Housing and Urban Development (HUD) continues to find ways to support homelessness. Recently, HUD released the third part of it’s Disaster Recovery Homelessness Toolkit, entitled Recovery Guide for Local Jurisdictions. The guide specifically targets governments and municipalities which want to pursue long-term recovery after individuals are displaced after homelessness.
- Chicago is attempting to support ex-convicts as well as homelessness in Chicago. Chicago Housing Authority (CHA) created a program to assist recently released prisoners with garnishing housing in public housing complexes or a willing relative in a public housing complex. An ex-offender’s aid is contingent upon their follow-up after prison and receipt of continuous monitoring. While Chicago’s program caps at a mere 50 persons, the program aids in Chicago’s overcrowding of homeless shelters. In Chicago, 1200 of the released prisoners transfer directly into homeless shelters.
August 11, 2017 | Permalink | No Comments
August 10, 2017
Thursday’s Advocacy & Think Tank Roundup
- Homeowners no longer have to flock to their attorney’s office or an agreed upon place in order to complete the closing process. United Wholesale Mortgage, now offers e-closing. Beginning on July 28, 2017, the company began allowing refinancing borrowers to complete a virtual closing. Though many companies offer e-mortgages, e-closings are not as readily available.
- Insights Blog released a report detailing May’s loan performance. The report noted loans in early stage delinquencies are at their lowest in 17 years. Additionally, New York has more loan delinquencies than any other metropolitan area. Further, the report mentions that homes in foreclosure across the nation are down 1%.
August 10, 2017 | Permalink | No Comments
August 9, 2017
Wednesday’s Academic Roundup
- Heterogeneity in House Price Dynamics, Galati and Teppa
- Optimal Sharing of Interest-Rate Risk in Mortgage Contracts: The Effects of Potential Prepayment and Default, Brueckner and Lee
- A Comprehensive Look at Short-Term Rentals: A Spatial Economic Analysis of Seattle, Garza and Hooton
- Household Credit and Local Economic Uncertainty, Kermani, Maggio, Ramcharan, and Yu.
- The Secondary Mortgage Market- A Catalyst for Change in Real Estate Transactions, Malloy
August 9, 2017 | Permalink | No Comments
August 8, 2017
Tuesday’s Regulatory & Legislative Roundup
- Mayors across the country flocked to America’s Capitol to give Congress a message, “We need help.” Specifically, the group seems most displeased with health care and tax reform. Many believe the two groups should work more collaboratively and move away from the secret legislation of the Trump Administration.
- Everyone is receiving a payout from Wells Fargo. This week, the Department of Veteran Affairs negotiated a settlement with the troubled bank regarding their interest rate veteran refinancing practices. The bank allegedly collected millions in unauthorized fees on these loans and will settle the issue with a $108 million settlement agreement.
August 8, 2017 | Permalink | No Comments
August 7, 2017
Monday’s Adjudication Roundup
- An Ohio Businesswoman pled guilty to her role in a $70 million Ponzi scheme. Connie Apostelos worked with her husband to defraud over 400 victims. Apostelos plead guilty to money laundering which caused investigators to lose over $20 million in funds. The couple used the money for personal luxuries rather than future investments.
- New Jersey’s Department of Environmental Protection previously approved the building of an apartment complex in a unique wetlands region. A New Jersey Appellate panel upheld the agency’s choice to approve the development citing the agency’s review of the project as sound and thorough.
August 7, 2017 | Permalink | No Comments
August 4, 2017
Friday’s Government Reports Roundup
- The U.S. Department of Housing and Urban Development wants to assist cities across the nation which are prone to flooding disasters. The federal agency recently appropriated over $178 million to assist America’s 2015 and 2016 flooded areas. The Community Development Block Grant will provide the funds for this cause.
- Housing discrimination is an issue in America. As a result, the U.S. Department of Housing and Urban Development appropriated 38 million to promote fair housing practices. There are three categories the agency will place their focus, “Education and Outreach Initiative grants, Fair Housing Organizations Initiative and Private Enforcement Initiative grants.“
August 4, 2017 | Permalink | No Comments
