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Home | Author Archives: Derek Templeton

Author Archives: Derek Templeton

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Goldman Sachs FHFA Settlement could reach $1.25 Billion

wall-st-and-gov

Multiple reports surfaced over the weekend that Goldman Sachs may be nearing a deal with the federal government to settle claims that it sold faulty mortgage backed securities to Fannie Mae and Freddie Mac, according to people with familiar with the negotiations. If a deal is reached it is expected to come in between $800 million and $1.25 billion. The talks were first reported by the Wall Street Journal.

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CFPB Proposes Changes to Reporting Requirements

commercial-new-venture

The Consumer Financial Protection Bureau is proposing a rule designed to improve the availability of access to credit. The proposed rule would update the reporting requirements contained within the Home Mortgage Disclosure Act and simplify the reporting process for financial institutions.

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Severity of Financial Crisis to Blame for Slow Wage Growth

paying-money

The labor market has taken significant steps in the quest to return to pre-recession employment levels. Still, concerns remain among many about the quality of jobs being created. Wages have increased over the past year but at only a 2.3 percent growth rate, they lag behind the growth rate that they should be experiencing at this point in the business cycle. A change may be in the air.

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Senior RMBS Trader Convicted of Fraud

Foreclosure, REO, News, Webcast

The office of the Special Inspector General for the Troubled Asset Relief Program announced that Jesse Litvak, a registered broker-dealer and former managing director at New York investment bank Jefferies & Co., Inc. was sentenced today to 24 months in federal prison and ordered to pay a $1.75 million dollar fine in connection to his conviction for defrauding consumers trading in residential mortgage backed securities.

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Homes “Seriously Underwater” Down in Second Quarter

Foreclosure, REO, News, Webcast

In a positive sign for the housing market, RealtyTrac reported Thursday a decrease nationwide in homes that were classified as “seriously underwater”, down to 9.1 million homes in the second quarter of 2014, representing 17.2 percent of all homes nationwide. The number is a decrease from the 17.4 percent of underwater homes recorded in the first quarter

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Frank Testifies Before House Financial Services Committee

BarneyFrank

Former Congressman Barney Frank testified before the House of Representatives Committee on Financial Services on Wednesday, arguing that the Dodd-Frank Wall Street Reform and Consumer Protection Act and the voluminous set of regulations that followed shortly thereafter was a positive for the economy and safeguarded the American public from ever having to face an economic down turn the likes of the great recession ever again.

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