Author: nawrbBlogger
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First Tennessee Bank Reaches Second Lending Settlement
In June 2015, First Tennessee Bank reached a $212.5 million settlement for knowingly underwriting and originating mortgage loans not complying with Federal Housing Administration (FHA) lending requirements. First Tennessee Bank recognized that from January 2006 to October 2008 it originated and underwrote mortgage loans insured by the FHA which did not satisfy the Department of…
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The Future of our Communities Lies in our Mothers’ Hands
The number of women rearing children by themselves in America has nearly tripled in the last 45 years, reaching a current estimate of 10 million single mothers in this country. The U.S. Census Bureau reports more than 1 in 4 families with children under the age of 18 are headed by a single parent and…
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Homeownership Rising in the U.S.
After increasing in the third quarter for the first time in two years (from a 48-year low), American homeownership rose for a second consecutive quarter from 63.7 percent to 63.8, the Census Bureau announced Thursday. Fueled by job growth and flexible lending, these successive increases, albeit minuscule, are welcome news after a span of incessant…
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The Effect of Oil Prices on Real Estate
As housing starts showing improvement, a new worry has crept in: can the dip in oil prices impact the recovering real estate market? At $30 per barrel, oil costs are the lowest they have been in almost 12 years and this could mean that gas prices will soon show a decline too, which will be…
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Cities Where You Can Pay Off Your Mortgage the Fastest
What are my payments, what is the interest rate and how long will it take me to pay this off? Those are the big three factors we all consider when we have settled on a significant new purchase and especially the biggest purchase of most people’s lives, a new home. The lowest the answer to…
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The Need to Build Resilient Infrastructure and Housing
In the wake of winter storm Jonas that has left many Northeastern states under more than two feet of snow, the necessity to make our infrastructure more resilient to natural disasters becomes eminent.
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Mortgage Rates Drop Further: Is This Hope for Potential Homebuyers?
According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for this week, mortgage rates have continued to drop for the third week in a row. The organization polls approximately 125 banks and lenders nationwide regarding fees, rates and closing discount points for different mortgage products like the 30-year fixed-rate mortgage (FRM), 15-year FRM and the…
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Picking the Right Accommodation: Hotels Vs Airbnb
Airbnb, a San Francisco based “community marketplace” for travelers has revolutionized the way people choose to stay during a business trip or vacation. The human aspect of the deal is probably what attracts most travelers who prefer to live like a local rather than a tourist. But is the company staying true to their original…
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The Struggle with Housing Affordability
The theme for the 2016 housing market is “the challenge of housing affordability coupled with expected modest economic growth,” according to a recent report from Fannie Mae’s Economic and Strategic Research (ESR) Group. The research group asserts that continued labor market demand will result in higher wages and job security in the coming year, and…
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Honoring the Life and Work of Martin Luther King Jr.
Most admired for his “I have a dream…” address, Martin Luther King Jr. was a prominent Baptist minister and civil-rights activist who left a lasting impression on the nation’s dealings with race. He had an important role to play in the creation of the Civil Rights Act of 1964 and the Voting Rights Act of…