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Author Archives: Aly J. Yale

Aly J. Yale is a longtime writer and editor from Texas. Her resume boasts positions with The Dallas Morning News, NBC, PBS, and various other regional and national publications. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more.

Home Prices Hit New Peak

According to new data, home prices have hit a new peak, now reaching $272,000. Eight states and 15 metros also hit new price peaks this year. Washington has seen the biggest jump in prices over the year.

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Nation Takes Aim at Veteran Homelessness

With nearly 40,000 American veterans homeless, the nation is finally starting to take notice. From new bills and big housing projects to events across the nation, parties from all over are taking at aim at veteran homelessness. The Five Star Institute’s upcoming Military Heroes Keys for Life event is just one such effort.

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Seven Markets Enjoying Fast Closings

Homebuyers in San Jose, California are enjoying the fastest closing times in the nation. Trailing behind San Jose, six other cities came in at 50 days or less. These markets are seeing multiple bidders, many of whom are pre-qualified and offer large down payments, on the first day of listing.

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FinTech Charters May Have Difficult Road Ahead

The OCC’s initiative to grant national bank charters to FinTech companies may not go as smoothly as some had hoped. According to a new report, there may be some unexpected hurdles that could stall its movement, including new leadership at the OCC and a recent lawsuit filed by various state regulators. President Trump named Keith A. Noreika to replaced Thomas J. Curry as head of the OCC in early May.

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BofA Capital Buffer Lags Behind

At the close of Q1, Bank of America had fallen behind its peers—at least in terms of its capital buffer. The bank came in last among major financial institutions, with just a 1 percent buffer for the quarter. Goldman Sachs took the top spot.

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Southern Cities on the Rise

The latest Census data has Southern cities reigning supreme in terms of population growth. Ten of the top 15 fastest growing cities in the country are located in the South, with five in Texas alone. The West also saw growth, claiming four of the top spots.

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Freddie Funds $28B in Mortgages

According to its latest summary report, Freddie Mac’s mortgage portfolio has increased 0.5 percent over the year. In April, the government-sponsored enterprise completed more than $28 billion in mortgage purchases and issuances, and 4,500 single-family loan modifications. Its mortgage-related securities portfolio also increased year-over-year.

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Wells Fargo Welcomes Back Private-label RMBS

An executive at Wells Fargo has announced the bank will attempt to bring back private-label bonds this year. The bank hasn’t issued bonds backed by non-government guaranteed loans since 2008, amidst the housing crisis. JPMorgan and Redwood Trust have also begun issuing these types of bond as of late.

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Blame it on Refis

According to new analysis of GSE loan performance data, refinances may be, in large part, to blame for the housing crisis. An uptick in “using homes as ATMs” lead to sloppier underwriting and an uptick in defaults on refis leading up to the collapse. Refis were significantly more likely to be seriously delinquent than purchase loans during this time.

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Foreclosure Activity Down Across the Board

According to a new report, serious delinquencies, short sales, deeds-in-lieu, third-party sales, and foreclosure sales were all down for the month. Earlier-stage delinquencies were up in February, however, with loans 30 to 59 days delinquent rising from 377,000 to 404,000 for the month. Of February loan modifications, 19 percent had principal forbearance, while extend-term modifications accounted for 44 percent—something the report attributes to ever-climbing housing prices.

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