Vested Land Services LLC brings you news about banking, real estate and finance
'Bring It On,' Frank Tells Dodd-Frank Critics at HearingBloomberg | July 23, 2014
It was 2010 all over again in the U.S. House Financial Services Committee. Barney Frank, the panel’s former chairman, returned to Washington today to sit before the committee and provide a feisty defense of that year’s regulatory overhaul, the Dodd-Frank Act that bears his name. The hearing split along partisan lines in support of and opposition to the wide-ranging law passed in response to the 2008 financial crisis.
Un-advertised Listings Distort Housing Inventory
CNBC | July 22, 2014
While the number of homes for sale nationwide is showing signs of inching up, inventories still remain constrained in many housing markets across the country. Could “pocket listings” — for-sale properties that aren’t marketed widely or posted on the MLS — be the real culprit?
U.S. Mortgage Applications Rise in Latest Week
Reuters | July 23, 2014
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 2.4 percent in the week ended July 18.
CFPB, FTC File Nine Lawsuits Against Deceptive Foreclosure Firms
HousingWire | July 23, 2014
The Consumer Financial Protection Bureau, the Federal Trade Commission and 15 states are filings 9 lawsuits against companies and individuals that collected more than $25 million in illegal advance fees with false promises to prevent foreclosures. The CFPB is filing 3 lawsuits, while the FTC is filing 6 lawsuits.
Majority of Buyers Unaware of True Costs of Home Ownership
Realty Mag | July 23, 2014
While the majority of home buyers recently surveyed say they feel financially prepared for home ownership, many admit they aren’t sure what purchasing a home will actually cost them, according to a poll of more than 1,000 prospective home buyers conducted by Discover Home Loans.
7 Signs of a Soon-to-be-Hot Neighborhood
Inman News | July 23, 2014
Here are the top telltale signs of a soon-to-be hot market.
1 in 6 Homes Still Seriously Underwater as Home Price Growth Slows
HousingWire | July 24, 2014
Down 26% from 2013, but decline slowed with slowing price gains.
Community Bankers: CFPB Must Modify QM Rule
Mortgage Professional America | July 23, 2014
Community bankers are urging the Consumer Financial Protection Bureau to revise the current qualified mortgage rule.
U.S. Housing Turning the Corner, Inflation Creeping Up
Reuters | July 22, 2014
U.S. home resales hit an eight month-high in June, suggesting the housing market was gradually regaining momentum and would help the economy to stay on a higher growth path this year.
HUD Ranks No. 2 Ugliest Building in Washington
Reversed Mortgage Daily | July 22, 2014
The Department of Housing and Urban Development may have made a lot of headway of late on reverse mortgage program changes and bolstering its Mutual Mortgage Insurance Fund after several years of economic turmoil, but it’s still one of the ugliest buildings in Washington, according to a Buzzfeed compilation.
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