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Author Archives: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

Survey Ranks Compliance, Risk Management as Top Lender Concerns

Looking at compliance challenges, 72 percent of banker respondents listed "maintaining compliance with changing regulations" as one of their top concerns, up from 67 percent at the start of last year, while 69 percent said just keeping track of regulations is a major issue at this point.

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Legal Costs Hurt Bank of America’s Q3 Earnings

Bank of America's Q3 earnings took a hit from a record $16.65 billion settlement with the Justice Department and other federal and state agencies in August to settle charges against the bank related to the sale of toxic mortgage-backed securities. That settlement cost the bank $5.3 billion (pretax), or $0.43 per share after tax.

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Wells Fargo, JPMorgan Chase Profits Turn Upward in Q3

Mortgage banking net income was $439 million, down $266 million from a year ago and $270 million from the prior quarter. Much of the year-over-year decline stemmed from a reduced benefit from credit loss provisions—$19 million compared to last year's $1 billion.

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Consumer Spending Rises for Second Straight Month

The index tracks consumer cash flow through a handful of measures—tax burden, initial unemployment claims, real wages, and new home prices—as an indicator of future consumer spending. Out of those four gauges, only one improved: Real hourly wages were up 0.5 percent from August to $8.86 in September, Deloitte reported.

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Rhode Island Housing Market Declines

Single-family home sales fell annually in Rhode Island for the fifth month this year in August, dropping by double digits even as selling prices came down, the Warren Group reported.

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NAR President Asks CFPB to be Cautious With Mini-Correspondent Brokers

Brown's letter comes months after the bureau signaled it will be watching out for brokers trying to skirt its compensation rules by operating the same way under a different label. Those rules were put in place early this year as a way to remove financial incentives for brokers to direct borrowers toward riskier products.

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RedVision Names EVP For Sales, Marketing

RedVision, an independent, nationwide provider of real property title data, search examination, and curative-ready solutions, has appointed Leanne Zinn-Cox as EVP of sales and marketing, the company recently announced.

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