Steven L. Antonakes, the Consumer Financial Protection Bureau (CFPB)'s second-in-command official, announced Thursday in a memo to employees that he is stepping down from his position with the CFPB.
Read More »Latest Fannie Mae NPL Sale Includes Smaller ‘Community Impact’ Pool
This sale includes two larger pools and a Community Impact Pool, which is a smaller geographically-focused, high occupancy pool. Fannie Mae is marketing the Community Impact Pool to encourage bidding by nonprofits and minority- and women-owned businesses (MWOB).
Read More »Cash Sales Share Falls to Lowest Level Since September 2008
The cash sales share has declined year-over-year every month since January 2013. The share declined by 0.9 percentage points month-over-month in April, although year-over-year comparisons provide a more accurate picture for cash sales share due to seasonality in the housing market, according to CoreLogic.
Read More »CFPB Launches New Monthly Report Series Analyzing Trends in Consumer Complaints
"Consumer complaints are the CFPB’s compass and play a central role in everything we do. They help us identify and prioritize problems for potential action," CFPB Director Richard Cordray said. "These monthly reports will enable us to share that data with the public more regularly, so that everyone can benefit from the information."
Read More »Anselmo Lindberg Oliver Law Group Announces New Hirings
Anselmo Lindberg Oliver (ALO) Law Group has announced the addition of Jerry R. Howard as senior counsel in the firm's satellite office in Cincinnati, Ohio, and Michael C. Crowe as an associate attorney in the firm's main office in Naperville, Illinois.
Read More »Hutchens Law Firm Hires Two New Attorneys
Hutchens Law Firm has added attorneys Graham Kidner as General Counsel and Shiann Schmidt as an associate focusing on creditor's rights and civil litigation, in the firm's Fayetteville, North Carolina, office.
Read More »Ohio Senator Introduces Bill to Improve Accuracy of Consumer Credit Reporting
"During the financial crisis, more than 50 million people saw their credit scores fall due to foreclosures and financial hardships," Brown said. "Many turned to bankruptcy, but are still haunted by debt on their credit report that they no longer owe. This bill would ensure that debts prior to bankruptcy aren’t in effect double counted and don’t continue to make it difficult for consumers to get a job or secure a loan for a home."
Read More »Economic Activity Expands and Home Sales Increase In Most Fed Districts
"Almost all of our contacts noted a seasonal increase in their residential mortgage business, which was heavily weighted toward new-home purchases," the Fed wrote. "The rapid rise in rental rates was cited as a motivating factor to purchase homes. Little change was reported in delinquencies (already at low levels) and loan-application standards."
Read More »Senate Banking Committee Questions CFPB Director On Bureau’s Oversight
"We are accountable to this Congress in numerous ways that are in our statute," Cordray said at the hearing. "The GAO (Government Accountability Office) does a regular audit of our expenses and expenditures each year, which is not common to federal agencies. We are subject to an independent audit also by our statute."
Read More »FHFA Demonstrates Progress Toward Goal of Keeping At-Risk Families in Homes
More than half of the nearly 3.5 million foreclosure prevention actions completed by Fannie Mae and Freddie Mac since the start of the conservatorships in September 2008 were permanent loan modifications, according to FHFA.
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