News Flash

Surprise! Survey Details Buyer Astonishment at Closing Costs
When it comes to closing costs, more than a few homebuyers are finding themselves in a state of sticker shock.   According to survey of 1,000 first-time and repeat buyers conducted on behalf of ClosingCorp, 17 percent of all homebuyers... Read more
A Gloomy Wednesday in Housing Data
A sense of pessimism permeated today’s latest housing data, with a lower level of mortgage applications and a widening gap between homeowner estimates and appraiser opinions.   The Mortgage Bankers Association’s Weekly Mortgage... Read more
Sen. Ted Cruz (R-TX) has introduced legislation to shut down the Consumer Financial Protection Bureau (CFPB)
Ted Cruz Seeks to Abolish the CFPB
Sen. Ted Cruz (R-TX) has introduced legislation to shut down the Consumer Financial Protection Bureau (CFPB). Cruz’s bill, S.370, is mirrored in the House of Representatives with similar legislation from Rep. John Ratcliffe (R-TX). The... Read more
New Data Identifies Top Markets for Buyers, Sellers and Relocations
It seems the surplus of Top 10 housing marketing lists has yet to abate, as two new offerings are now being offered.   Zillow named its Top 10 lists for the best buyers’ market and the best sellers’ market. On the buyers’ side, property... Read more
Republican leaders in Congress are calling on Federal Reserve Chairwoman Janet Yellen
Yellen: Dodd-Frank Made Banks Safer
Federal Reserve Chairwoman Janet Yellen used congressional testimony to take umbrage at the notion that the Dodd-Frank Act negatively impacted the U.S. financial services industry.   According to Bloomberg coverage of her appearance before... Read more
Mortgage Applications Up, Foreclosures Down
Today’s housing data news could be seen as the industry’s Valentine’s Day gift to the economy.   Mortgage applications for new home purchases in January increased by 22 percent from December and by 9.2 percent from a year ago, according to... Read more
The Senate voted Monday night to confirm former financial services industry executive Steven Mnuchin as Secretary of the Treasury
Mnuchin Confirmed as Treasury Secretary
The Senate voted Monday night to confirm former financial services industry executive Steven Mnuchin as Secretary of the Treasury in a 53-47 vote that mostly adhered to party lines, with West Virginia Sen. Joe Manchin as the only Democrat... Read more
The Consumer Financial Protection Bureau (CFPB) has charged Prospect Mortgage LLC with paying illegal kickbacks for mortgage business referrals and ordered it to pay a $3.5 million civil penalty
Analysis: The NY Times’ Wobbly Defense of the CFPB
At a time when it is increasingly difficult to separate news from #FakeNews, the New York Times presented a lavish praise of the Consumer Financial Protection Bureau (CFPB) that offered little evidence of objective observation. Even worse... Read more
When Homeownership Decisions Revolve Around Pets
It wasn’t that long ago that homebuying was predicated on distances between the residence and the workplace or the quality of the local school district. Today, however, a growing number of homebuyers are giving priority to needs of their... Read more
New Jersey Gov. Chris Christie has signed legislation that provides foreclosure protection to residents that suffered property damage during 2012’s Superstorm Sandy, but he affixed his signature with a severe warning of the new law’s consequence
N.J. Gov. Christie Unhappily Signs Superstorm Sandy Relief Bill
New Jersey Gov. Chris Christie has signed legislation that provides foreclosure protection to residents that suffered property damage during 2012’s Superstorm Sandy, but he affixed his signature with a severe warning of the new law’s... Read more