August 3, 2017
Thursday’s Advocacy & Think Tank Roundup
- The 2018 Transportation, Housing and Urban Development, and Related Agencies (THUD) Appropriations Act was approved by every member of the Senate’s AppropriationsCommittee . The 2018 fiscal year budget permits a 60.06 billion for the nation’s discretionary budget and 40.7 billion for HUD.
- Mel Watt, chairman of the Federal Housing Finance Agency, believes shifting the credit scoring system would harm the financial market. Watt further explains two factors which are slowing the credit scoring shift. One factor Watt considers is “ensuring the Common Securitization Platform is fully operational.“
August 3, 2017 | Permalink | No Comments
August 2, 2017
Wednesday’s Academic Roundup
- Is All that Twitters Gold? Social Media Attention and Stock Returns, Rakowski, Shirley, and Returns
- There’s No Place Like Home: Reshaping Community Interventions and Policies to Eliminate Environmental Hazards and Improve Population Health for Low-Income and Minority Communities, Benfer and Gold
- US REITs’ Returns Sensitivity to Interest Rates after the Global Financial Crisis, Liu and Morri
- Corruption and Home Bias in Global Real Estate Investments, Sing and Wang
August 2, 2017 | Permalink | No Comments
August 1, 2017
Tuesday’s Regulatory & Legislative Roundup
- Congress plans to repeal the Consumer Financial Protection Bureau’s new arbitration rule. As a result, the Office of the Comptroller of the Currency will not intervene in trying to overturn the rule. Due to Congress’s power under the Congressional Review Act, the agency is permitted to disprove regulatory rules within 60 days of enactment.
- The Consumer Financial Protection Bureau (CFPB) issued a warning to companies attempting to use costly pay-by-phone options. The CFPB does not want to customers to be misled surrounding pay-by-phone options. Particularly, the agency does not want customers to be “in the dark” about less costly options.
August 1, 2017 | Permalink | No Comments
July 31, 2017
Monday’s Adjudication Roundup
- Five major U.S. Banks are worried. Previously, the Second Circuit permitted the Federal Deposit Insurance Corporation to file a mortgage securities suit for $140 million dollars against the five banks. Recently, the U.S. Supreme Court heard from the Securities Industry and Financial Markets Association urging the Court to overturn the Second Circuit’s decision.
- A federal Florida court awarded a plaintiff $16.4 million. The award stemmed from an estate dispute with the estate’s attorneys. The jury determined two Florida attorneys breached their fiduciary duty while they oversaw Oliver Bivins estate.
- Genworth Financial Inc. did not provide compelling reasons for a Delaware Chancery Court judge to permit access to various documents during discovery. The Genworth Financial Inc. sought documents from the to-be-sold mortgage insurer; however, the Court protected the documents because “they concern an action the investors filed themselves.“
July 31, 2017 | Permalink | No Comments
July 28, 2017
Friday’s Government Reports Roundup
- This past week, the nation celebrated the National Housing Week of Action. Congressmen and housing activists gathered on Capitol Hill to shed light on the nation’s current housing issues. The gatherers specifically sought funds for additional investments in housing for low-income families.
- The Affordable Care Act has yet to be repealed. Members of Congress presented yet another iteration to repeal the act; however, their efforts failed to persuade the members of the Senate. The proposed repeal, if approved, would end the mandate that most Americans pay for their medical coverage. Further, individuals purchasing their own insurance would see a 20% increase in the price of their premiums.
July 28, 2017 | Permalink | No Comments
July 27, 2017
Thursday’s Advocacy & Think Tank Roundup
- First Financial bought MainSource for $1 billion. This merger will make First Financial the sixth largest bank in Indiana. The deal incorporates a stock-for-stock transaction estimated to the value of 1 billion. Due to the merger, First Financial now has “$13.3 billion in assets, $8.9 billion in loans, $10 billion in deposits and $4 billion in assets.“
- In 2013, Denver made a five-year affordable housing goal; however, they met the goal one year before its end date. Further, the city plans to create over 1,600 affordable units within the next year. 97% of the new affordable homes are or will be within .25 of a mile from a frequent bus line. As a result, the city also created the Office of Housing & Opportunities for People Everywhere.
July 27, 2017 | Permalink | No Comments
July 26, 2017
Wednesday’s Academic Roundup
- Does Loan Officer Race Affect Mortgage Prices? Evidence from the Subprime Mortgage Market, Ambrose, Conklin, and Lopez
- Mortgage Insurance Deductibles: An Idea Whose Time Hasn’t Come, Kieppl and MacGee
- Invisible Student Loan Debt and the Mortgage Interest Deduction, Haneman
- House Price Beliefs and Mortgage Leverage Choice, Bailey, Davila, Kuchler, and Stroebel
July 26, 2017 | Permalink | No Comments
