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Mortgage Brokers

Welcome to the special Real Estate Industry Bulletin for Mortgage Brokers.

White House to tackle housing reform after debt ceiling fight

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White House to tackle housing reform after debt ceiling fight

Once the tumultuous debt ceiling negotiations settle, Washington officials said the Obama administration will begin a revitalized effort to address lingering concerns in housing finance reform. When debt ceiling talks resolve remains a question. President Obama took to a town hall meeting Friday morning urging lawmakers to forge a deal, but the Senate rejected...
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CFPB issues first stopgap mortgage rule

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CFPB issues first stopgap mortgage rule

The Consumer Financial Protection Bureau issued its first substantial rule to the Federal Register Friday filling a regulatory gap for alternative mortgage originations. The bureau opened Thursday without a director as Congress and the White House continue to debate how much power the bureau will yield. Some technical rules were issued then to exact...
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Existing Home Sales: Comments and NSA Graph

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Existing Home Sales: Comments and NSA Graph

A few comments and a graph (of course): • The NAR reported that inventory increased in June from May (the normal seasonal pattern), and that inventory is off 3.1% from June 2010. Other data sources suggest that the NAR is overstating inventory (inventory will be part of the coming revisions). Inventory is probably down...
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Existing Home Sales: Comments and NSA Graph

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Existing Home Sales: Comments and NSA Graph

A few comments and a graph (of course): • The NAR reported that inventory increased in June from May (the normal seasonal pattern), and that inventory is off 3.1% from June 2010. Other data sources suggest that the NAR is overstating inventory (inventory will be part of the coming revisions). Inventory is probably down...
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Monday Morning Cup of Coffee

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Monday Morning Cup of Coffee

A look at stories across HousingWire's weekend desk, with more coverage to come on bigger issues: Staff at the Office of Thrift Supervision will begin their transfer to the Office of the Comptroller of the Currency Monday. Under Dodd-Frank, the OCC will absorb the OTS and operate as a single agency beginning Thursday –...
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Debt Ceiling Charade: Almost Over

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Debt Ceiling Charade: Almost Over

I’ve been hearing from more and more people that they are concerned about the debt ceiling negotiations. Many of these people are busy with their daily lives, and they don’t usually pay close attention to politics or budget issues. This concern is probably why consumer sentiment fell sharply in the Reuters / University of...
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Europe Update

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Europe Update

The Euro zone summit meeting originally planned for Friday has apparently been delayed – probably until next week or until an agreement can be announced. Meanwhile the bank stress test results will be released on Friday, and there is already disagreement about the results. • From Reuters: Euro zone leaders summit on Greece seen...
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Fidelity settles with HUD over mortgage kickback claims

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Fidelity settles with HUD over mortgage kickback claims

The Department of Housing and Urban Development struck a .5 million settlement with Fidelity National Financial over claims the title company paid real estate brokers kickbacks and referral fees in violation of the Real Estate Settlement Procedures Act. Section 8 of RESPA prohibits anyone from giving or receiving anything of value in exchange for...
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Understanding the Tax Advantages of Depreciation

Understanding the Tax Advantages of Depreciation

There’s no doubt about it – one of the greatest benefits of real estate investment are the tax benefits the investor receives!  It’s entirely legal to shelter income and defer capital gains.  It’s entirely legal to minimize taxation and maximize the money the investor keeps on an after-tax basis. The concept of depreciation (also...
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Bair appoints first chief risk officer for FDIC

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Bair appoints first chief risk officer for FDIC

On her last day as Federal Deposit Insurance Corp. chairman, Sheila Bair appointed Stephen Quick as the regulator's first chief risk officer. Quick will take the position Aug. 15. Since 2000, he served as director of the office of evaluation and oversight at the Inter-American Development Bank, a 0 billion financial institution. "I'm very...
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