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Jun 08, 2016 12:30 PM

Supreme Court Sides with Landowners over Wetlands

The U.S. Supreme Court unanimously ruled May 31 that landowners can immediately proceed to court once federal regulators determine that property containing wetlands is covered by the Clean Water Act, National Real Estate Investor reported May 31. The decision could expedite the approval process for entities seeking to develop wetlands.

 
Jun 01, 2016 12:30 PM

Wells Fargo Fined $70M over Mortgage Servicing

The U.S. Comptroller of the Currency on May 25 fined Wells Fargo $70 million over its mortgage servicing practices but ended restrictions it had placed on the bank, Reuters reported. The bank is accused of making inaccurate escrow calculations resulting in incorrect loan modification denials.

 
Jun 01, 2016 12:30 PM

Chase Nearly Done with Consumer Relief Requirements

JPMorgan Chase has paid more than $3.9 billion of the $4 billion in consumer relief it was ordered to provide for more than 165,000 borrowers as part of its settlement with the federal government and five states over the packaging and sale of soured residential mortgage-backed securities, HousingWire reported May 26.

 
Jun 01, 2016 12:30 PM

Freddie Mac: US Housing Markets Continue to Improve

Freddie Mac announced May 25 that its Multi-Indicator Market Index rose to 83.8, which is a 7.23 percent increase from the previous year and indicative of an improving housing market. A score of 100 means that indicators are at average benchmark levels. Thirty-six states and the District of Columbia are within range of average benchmarks.

 
May 25, 2016 12:30 PM

Court Voids $1.27B fine Against Bank of America in 'Hustle' Case

A U.S. appeals court on May 23 overturned a $1.27 billion penalty against Bank of America, voiding a jury's finding that the bank was liable for selling toxic mortgage loans to the government-sponsored enterprises, Reuters reported. The government had accused the bank of fraud over a loan origination process known as “Hustle.”

 
May 25, 2016 12:30 PM

Fannie: Economic Growth Continues Downward Slide

Fannie Mae on May 17 lowered its full-year economic growth forecast to 1.7 percent, down from 1.9 percent noted in a previous forecast and 2.2 percent reported at the beginning of the year. However, growth is expected to recover with a boost from home sales and low mortgage rates.

 
May 25, 2016 12:30 PM

HARP Refinance Surpasses 3.4 Million Borrowers

The Federal Housing Finance Agency announced May 16 that more than 3.4 million homeowners have refinanced their mortgage loans via the Home Affordable Refinance Program, including more than 19,000 in the first quarter. HARP expires Dec. 31, and more than 325,000 borrowers are still eligible to refinance.​

 
May 20, 2016 08:00 AM

Appraisal Institute Unveils 2016-19 Strategic Plan

The nation’s largest professional association of real estate appraisers today announced a three-year strategic plan to address challenges and opportunities facing the organization and the real estate valuation profession.

 

Fannie Mae: TRID Gives Advantage to Large Lenders

Forty-four percent of large lenders responding to a Fannie Mae survey about the TILA/RESPA Integrated Disclosure Rule said that it gave them a competitive advantage in the marketplace, whereas only 16 percent of small lenders said the rule gave them any advantage, MBA NewsLink reported May 12.

 
May 18, 2016 12:30 PM

Moody's: Pre-recession Interest Rates Gone for Good

The higher interest rates that were prevalent before the recent financial crisis are unlikely to be seen again, primarily because of weak investment spending and the changing relationship between rates and inflation, according to ratings agency Moody's, Business Insider reported May 11

 
 
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