Two major investors have shored up their stock in Fannie Mae and Freddie Mac after a judge dismissed two lawsuits regarding the sweeping of GSE profits into the U.S. Department of Treasury, causing the price of GSE stock to plummet.
Read More »HUD to Commit $24 Million To Help PHA Residents Increase Earned Income
The U.S. Department of Housing and Urban Development (HUD) is committing $24 million to certain qualified Public Housing Authorities (PSAs) help their residents increase their earned income, HUD secretary Julián Castro announced on Friday.
Read More »Delaware Court Rules in MERS’ Favor Over Assignment of Mortgage
MERSCORP Holdings gained yet another legal victory earlier this week, this time in Delaware. In a suit brought about by a disgruntled mortgagor over whether or not MERS had the authority to assign a mortgage, a Delaware court ruled in MERS' favor.
Read More »Virginia Man Sentenced for Hacking Fannie Mae-Run Website
A Virginia man has been sentenced for illegally accessing government servers that hosted a Fannie Mae website used to support federal mortgage loan modification programs, the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced on Friday.
Read More »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.
Read More »Study: Economy On More Solid Ground, Housing May Soon Follow
Now that the overall economy is on more solid ground, Wells Fargo economists suggest that housing may soon follow in its footsteps, according to Wells Fargo's Housing Chartbook for October 2014 released on Thursday.
Read More »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.
Read More »HUD OIG: Past Year’s Investigations of Lenders Have Netted Significant Settlements
The Office of Inspector General for the U.S. Department of Housing and Urban Development (HUD OIG) announced that civil investigations of some of the Federal Housing Administration's (FHA) largest lenders have resulted in significant settlements in the last year.
Read More »Study: Consumer Loan Wallet Materially Changing For All Ages
A new study by TransUnion indicated that the composition of loans people typically carry, known as the consumer loan wallet, has materially changed in the last decade for both older and younger consumers.
Read More »Investor Appeals Judge’s Dismissal of GSE Profits Lawsuit
Hedge fund Perry Capital has appealed a judge's decision to dismiss a lawsuit filed last year over the sweeping of Fannie Mae and Freddie Mac profits into the U.S. Department of Treasury.
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