Knotek states in his report that despite recent signs pointing to an imminent increase in worker compensation, factors such as slack in the labor market, bargaining power, worker productivity, inflation, and many other variables and factors, make wage growth impossible to accurately forecast.
Read More »New York Appeals Court Revives CDO Fraud Suit Against Goldman Sachs
The suit was dismissed by the Appellate Division of the New York Supreme Court in May 2013 on the grounds that ACA Financial, as a "highly sophisticated commercial entity" should have done its research on the securities before purchasing
Read More »Survey: Consumers Generally Positive But Still Cautious Toward Housing
Consumer sentiment toward the economy took a slight step backward in April, with the percentage of respondents who said the economy is on the right track fell by one percentage point down to 42 percent. Meanwhile, the share who said the economy is on the wrong track increased by one percentage point up to 49 percent.
Read More »House Subcommittee to Hold ‘Dodd-Frank Act and Regulatory Overreach’ Hearing
The Oversight and Investigations Subcommittee will convene on that day to discuss the controversial piece of legislature, which was enacted in 2010 in response to the financial crisis. The Chairman of the Oversight and Investigations Subcommittee, Representative Sean Duffy (R-Wisconsin), has been an outspoken critic of Dodd-Frank.
Read More »Regulatory Changes, Reputational Risk, Economics Are Factors in Shift to Non-Bank Servicing
Reputational risk "remains high with regard to any and all foreclosures," Schwartz said. The crisis gave regulators the ammunition they needed to create loan servicing-specific legislation and policies, which resulted in the straining of the execution of collection and default services for many servicers, whereas those practices had worked well for them prior to the crisis.
Read More »Spring Gains Mean Good News For Housing Moving Forward
Despite the gains for the housing market this spring, the Census Bureau reported that homeownership nationwide had fallen to 63.7 percent in Q1, its lowest level since the 1990s, with ongoing declines happening primarily among households under age 45.
Read More »Single-Family Rental Transactions See Low Delinquencies, Improved Vacancies
Delinquencies remained low among 15 single-family rental securitizations for March, according to data reported by Morningstar Credit Ratings in a recent report titled "Single-Family Research: Performance Summary Covering All Morningstar Rated Securitizations."
Read More »Survey: Delinquencies, Foreclosure Inventory Fall Below Pre-Recession Levels
The serious delinquency rate, which is the percentage of loans 90 days or more overdue or in foreclosure declined substantially in Q1 down to 4.24 percent – a drop of 28 basis points from Q4 2014 and 80 basis points from the same quarter a year earlier.
Read More »DS News Webcast: Wednesday 5/6/2015
Freddie Mac's net income for the first quarter of 2015 totaled 524 million dollars, nearly double the total of a profitable but somewhat slow fourth quarter, according to Freddie Mac's Q1 2015 Financial Report released Tuesday morning. Derivative losses were largely responsible for ...
Read More »Morgan Stanley Says It Might Settle MBS Suit With Deutsche Bank for $292 Million
Deutsche Bank sued Morgan Stanley in April 2014, claiming that the New York-based investment firm breached a contract by misrepresenting the quality of about $735 million worth of loans held in a trust in in which Deutsche Bank was the trustee and Morgan Stanley was the sponsor.
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