House Passes TRID Grace Period Bill
There is no question about it; the TILA-RESPA Integrated Disclosure (TRID) rule transforms the way business is done in the mortgage industry. After multiple postponements, TRID was officially implemented on October 3 with the assurance from the Consumer Financial Protection Bureau (CFPB) that there would be an informal grace period carried out at least through the end of the year for lenders attempting to comply in good faith with TRID regulations.
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You Can Now Review Federal Agencies on Yelp
Yelp just announced that it has reached an agreement with the federal government allowing users to review federal agencies and offices. This will allow agencies to claim their Yelp pages, accept reviews and utilize feedback to improve their operations.
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Housing Affordability Hindering Fiscal GrowthHigh-productivity markets are not the key to increasing economic growth due to the lack of housing affordability. The National Bureau of Economic Research found that high-profile locations such as San Francisco, New York and San Jose are not generating the GDP growth that they should be.
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Freddie Mac's 2015 Q1 Net Income Doubles from Q4
Freddie Mac’s net income for the first quarter of 2015 almost doubled from Q4. According to Freddie Mac's Q1 2015 Financial Report, its net income is now at 524 million.
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Women in Politics: Become a Voice for Women and Run for Office
Do you want to drive change? Want to have a say in ongoing policy debates about housing and small business issues? Want to amplify the voices of women offering bold solutions when those issues are on the table? Then maybe you should run for office!
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Major Sale: Fannie Mae to Follow in Freddie Mac's Footsteps
Fannie Mae has joined the ranks of Freddie Mac in selling delinquent loans to clean up its portfolio. The delinquent loans consist of non-performing single-family mortgages and will be sold in pools to buyers in the near future.
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Major Supreme Court Decision to Affect Mortgage Industry
In a unanimous decision on Monday, the Supreme Court held that the Department of Labor does not have to adhere to notice-and-comment procedures as outlined in the Administrative Procedures Act (APA). Perez v. Mortgage Bankers Association was the landmark case that allowed the Justices to come to this decision.
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HUD Secretary Castros Testimony before the House Financial Services Committee Ignites Opposition
Earlier this week, we blogged about the upcoming House Financial Services Committee hearing featuring U.S. Department of Housing and Urban Development (HUD) Secretary Julian Castro. The hearing, titled The Future of Housing in America: Oversight of the Federal Housing Administration, was directed towards the financial status of the Federal Housing Administration (FHA), the condition of the Mutual Mortgage Insurance Fund (MMIF), and recent initiatives to promote affordable housing.
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SBA Announces Matchmaking Events through American Supplier Initiative
The U.S. Small Business Administration (SBA) has announced matchmaking events throughout 2015 which will expand the American Supplier Initiative. Created in 2012, the American Supplier Initiative supports American manufacturing by investing in the small businesses that comprise America’s suppliers.
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