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Home | News

Senior RMBS Trader Convicted of Fraud

Senior RMBS Trader Convicted of Fraud

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

Homes “Seriously Underwater” Down in Second Quarter

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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Community Banks Petition for CFPB for Expanded Exemptions

Community Banks Petition for CFPB for Expanded Exemptions

One of the more nagging ripples of post-crisis reform is the amount of regulations laid upon the shoulders of financial institutions. Akin to the sweeping post-9/11 security reforms that banks now implement, cumbersome new regulations for lending are proving costly to small banks, which are having trouble competing with large institutions due to expensive compliance costs.

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Frank Testifies Before House Financial Services Committee

Frank Testifies Before House Financial Services Committee

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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CoreLogic: Student Loans Not Depressing Home Ownership

CoreLogic: Student Loans Not Depressing Home Ownership

One of the pet reasons for explaining the lack of demand for houses among millennials is the presence of ever-escalating student loan debts. The thinking goes that college graduates are so mired in debt that they either cannot afford to buy or are too afraid to run up more debt, and so they stay living with their parents or find cheap places to rent.

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Existing Home Sales Reach Highest Peak in 8 Months

Existing Home Sales Reach Highest Peak in 8 Months

Existing-home sales in June touched their highest level so far this year as the supply of available homes for sale continued to improve. The National Association of Realtors (NAR) reported a 2.6 percent month-over-month rise in existing-home sales last month to a seasonally adjusted annual rate of 5.04 million. May sales were revised slightly upward to a rate of 4.91 million.

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