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Landmark Court Case on the Horizon: Will CFPB Lose?

Newsletter - May 2016 The Consumer Federal Protection Bureau (CFPB) is locked in a litigation battle with top-5 mortgage servicer PHH, and the decision in the case will be big news when it comes down. Interestingly, after oral arguments were made a few weeks ago, we got some insight into…

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Is the Law on Your Side? An UPDATE!

Newsletter - April 2016 Back in May of last year, we wrote a newsletter that investigated the issue of statues of limitations litigation and the potentially disastrous effects it could have on banks and servicers (and by extension the mortgage industry) should the courts come down on the side of…

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Non-Bank Lenders and the Future of the American Economy

Newsletter - March 2016 Christopher Whalen said recently, in a thought-provoking article on National Mortgage News, two things that really got us thinking. The first is what he spends most of the article discussing: Over the next several years, Kroll Bond Rating Agency expects that the top four commercial banks…

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The Big Short: Did Hollywood’s Blockbuster Get It Right?

Newsletter - February 2016 It’s not every day (or year or decade for that matter) that you get a full-fledged Hollywood blockbuster that focuses on the ins and outs of the financial industry. Yet that’s what we got at the end of 2015 when The Big Short debuted in theaters.…

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Industry Reactions to the FED Raising Rates

Newsletter - January 2016 To say that the Federal Reserve raising the federal funds target rate was expected would be a bit of an understatement. We knew it was coming. It was a matter of when. Nonetheless, now that it has happened, it is an important indicator of how the…

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Are Regulations Choking the Mortgage Industry?

Newsletter - July 2019 Stop me if you’ve heard this one before - A couple purchases their first home. It’s May 2008. Less than a year later… Yeah, it’s the classic “underwater” mortgage story. I don’t have to go into the gritty details, because the story I’m talking about is…

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Are Regulations Choking the Mortgage Industry?

Newsletter - November 2015 I had occasion recently to chat with a local bank Loan Officer about the state of the mortgage industry, and the exchange really got me thinking. I’d like to share with you his perspective on the regulations being handed down from the Consumer Finance Protection Bureau…

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HELOC, Stock & Barrel: The Latest on HELOCs & What It Means

Newsletter - October 2015 We’ve dissected the HELOC market a fair bit in this space, but it’s time to return our focus as a new batch of numbers has recently emerged. In June 2014, we highlighted the two opposing opinions financial experts were touting in regards to coming HELOC resets…

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Do Recent Risky Investments Threaten The Improving Economy?

Newsletter - September 2015 There was recently a very interesting mortgage-bond deal announced by Dallas, Texas-based private equity firm Lone Star. And if you haven’t read Jody Shenn’s illuminating analysis of the deal, allow us to summarize: Lone Star packaged 220 mortgages and created a $72 million bond offering Of…

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Why Knowing Too Much Could Put Your Portfolio at Risk

Newsletter - August 2015 With a host of HELOCs beginning to reset, it’s a volatile time for the mortgage industry. There will be more defaults coming due to reset hikes, but we hear from some experts that they think the number of defaults that come from mortgage companies not communicating…

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Can the Experts’ Info Be Trusted? There’s a scary question…

Newsletter - July 2015 From time to time on this blog we have noted the difference in opinion between industry experts regarding the mortgage industry's latest news. Obviously, no one expects any one expert to have everything right at any given time, so the exercise is useful and prudent. But…

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Should Congress Oversee the CFPB? That Is The Question…

Newsletter - June 2015 In a legislative twist that is of particular interest to all parties impacted by the regulations and reach of the Consumer Financial Protection Bureau (CFPB), Senator David Perdue of Georgia introduced a bill to the US Senate on May 19th that would cause the CFPB to…

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Is the Law Really on Your Side? Maybe Not for Long…

Newsletter - May 2015 As the housing market begins to turn a corner for homebuyers, banks and mortgage servicers are still smack in the middle of dealing with the rash of foreclosures and delinquencies created by the market crash. So while others may be moving on, there remain a number…

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Why “Harmless” HOAs Should Terrify You

Newsletter - April 2015 HOAs can occasionally be a pain in the rear end for those living within the association's jurisdiction. But more often than not they are usually little organizations that help keep property values and the overall livability of a community up. In terms of power, they don't…

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When the Storm Clouds Gather, Get Your Paperwork Ready

Newsletter - March 2015 If you’re out in the park and you see a grayish-looking cloud off in the distance, you take note. When another dark cloud rolls in next to it, you try to remember where you put your umbrella. When a cluster of heavy, stormy clouds hover just…

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2014 Closed with a Rash of Foreclosures: Fluke or Fatal Flaw?

Newsletter - February 2015 The housing market stumbled a bit at the finish line of 2014, according to a recently released RealtyTrac foreclosure report and Black Knight Financial’s November Mortgage Monitor report. According to RealtyTrac, foreclosure starts in December 2014 increased 6% over the previous month and 14% over December…

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We Predict! 4 Mortgage Industry Trends for 2015…

Newsletter - January 2015 Happy New Year! I hope your 2014 held many happy memories, of both the business and personal variety! But now that we've weaseled our way into 2015, it's time to turn our attention forward and look at what is possibly (probably) coming our way in 2015.…

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The Holidays and Human Rights – A Lesson in Family

Newsletter - December 2014 The Christmas season has its roots in Christianity; Hanukkah springs from the proud Jewish tradition; Kwanzaa is a "celebration of family, community, and culture"; Festivus is easily traced back to the immortal Seinfeld. But regardless of which tradition you celebrate, and even if the above holidays…

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HELOCs Are Coming Back – But Do We Want Them?

Newsletter - November 2014 Way back in the distant past (i.e. June – I can’t believe it’s November already!), I wrote this post I wrote this post contrasting the two main outlooks for upcoming HELOC resets. All that info is still good and applicable, if you haven’t read it, but…

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Regulation & Compliance: What’s the REAL Effect?

Newsletter - October 2014 For the past 5 years, the biggest issue for mortgage, real estate, and financial professionals has been compliance. Every aspect of the home buying process and also mortgage servicers due diligence with loan documentation, is more tightly regulated than it used to be. And while there…

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Gov’t Red Tape Choking off Housing Aid and Leading to Defaults

Newsletter - September 2014 For the past couple months of this newsletter, I’ve covered the impending rate resets facing those who refinanced through government programs when the real estate bubble burst. Well, I’d like to turn our attention to an issue on the other side of the spectrum: while some…

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Loan Mods Not Panning Out (And What It Means for You)

Newsletter - August 2014 To use a grisly analogy, the cadaver of America's strong economy pre-Recession has been well and fully autopsied by brilliant minds. We know (now) what went wrong – the "cause of death", if you will. To put it simply: reckless lending backfired. Old news, right? But…

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Suit up! Rate Resets and Foreclosures are coming for you…

Newsletter - July 2014 Last month in this newsletter, I broke down the two main viewpoints on the coming HELOC resets. Well, it turns out that maybe the doom-and-gloomers were on to something after all. New numbers from a Black Knight report suggest that a worse-than-expected 40% of mortgages poised…

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Newsletter – June 2014

Newsletter - June 2014 Between 2014 and 2019, there are between $170 billion and $200 billion worth of home equity lines of credit (HELOCs) poised to reset. This fact hangs over the limping economy like a Florida thunderstorm. Some experts are naturally concerned that higher mortgage rates will send another…

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3 Ways 2014 is Starting to Look Like 2008 (UH-OH…)

Newsletter - May 2014 Just the mere thought of 2008 makes you cringe, right? That fateful year altered the trajectory of so many of our lives. So if I say that there are signs popping up THIS year that look an awful lot like the ones we ignored in 2008,…

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