Comptroller of the Currency Joseph Otting has been picked by President Donald Trump to be the acting director of the Federal Housing Finance Agency (FHFA). Mell Watt’s time as director of the FHFA ended on January 6, 2019. Watt became a Senate-confirmed director of FHFA in 2014. His was the first Senate-confirmed director term. Joseph Otting will serve as FHFA director, while Mark Calabria awaits Senate confirmation for Mell Watt...
Wells Fargo ordered to pay $2.09B to settle allegations of misrepresentation of Loan quality
Ten years after the financial crisis which was largely contributed by the faulty mortgage system, Wells Fargo agreed to go on record to pay $2.09 Billion to settle a U.S. Probe into its creation and sale of loan that contributed to the horror. The settlement comes as a fine to settle claims that Wells Faro misled investors about the quality of the subprime mortgage loans that it had initiated and...
The Housing Market is making a slow come back
Real estate professionals must always beware of any news or report that can help them predict any upswing or downturn in the housing market. One of the greatest tools to do so is The State of Nation’s Housing published by The Joint Center for Housing Studies of Harvard University[1]. The 2018 report reflects on how our nation has changed over the thirty years since the publication began, and it presents...
Ten Years after the Financial Crisis: Is this the Right Time to Buy
Ten years ago, the country was hit by the worst crisis in modern history and the horror is far from over! History might repeat itself again if the government stays silent about this. Ten years ago, investment banks and financial institutions collapsed in dramatic way, but back then, in part, the chaos could be blamed to the reckless lending and risky investment that had tanked. The crisis began more than...
Student debts weigh down on the housing market
Student loan debts in the country have been a menace to most first time home buyers in the United States, who have to deal with the intricacies in the mortgage lending environment and the heavy debts flaunting on their portfolio, all of which seem to damper their American Dream of Homeownership. With the recent Independence Day celebration, you have to wonder when the country will ever achieve the true meaning...
Understanding The Benefits Of The Blockchain In Real-Estate Industry
With the Blockchain growing its influence throughout various industries and spheres of life, lots of real estate professionals ponder on how this might affect them. The reality is that the new tech, just like the internet will better the way we do property business. The only difference is that it will do so by a more significant margin. Understanding the Blockchain The blockchain is an innovative technology that changes the...
Five Ways to Stop Worrying about Homeownership
Owning a home is one of the stepping-stones towards long-lasting prosperity. For many families, it represents the culmination of years of hard work and perhaps the largest investment they will make. Yet after the mid-2000’s market crash, many do not see homeownership as a safe investment it once was. Many have become wary of the expenses, responsibilities and risks owing a home can bring. Nonetheless, there are many reasons why...
The New Federal Tax Bill and its Impact on Real Estate
The president hasn’t been hesitant in making policy changes that have had an impact on the Country, with the most recent one being the New Federal Tax Bill. The Bill came from congress a few days before Christmas 2017 requiring Tax Cuts and Jobs Act. A law which hadn’t been changed for many years was now in due process of being changed and would affect many people’s finances. The main...
The Impact of House Shortage in California
California, without a doubt is one of the most desirable places to live in the United States of America. The sprawling landscape presents the best of both worlds, mountains to visit secluded by cool, damp forests and the scorching beach. The promise of Hollywood and many other attractions has made living in California the ‘dream’ of many Americans. Overall, California cities account for 25 percent of America's homeless population, or...
Improving Credit Score without a Credit Repair Agency
You see the ads in newspapers, on TV, and online. You hear them on the radio. You get fliers in the mail, email messages, and maybe even calls offering credit repair services. They all make the same claims. Do yourself a favor and save some money, too. Don’t believe these claims: they’re very likely signs of a scam. Here is how you can repair your credit score without a credit...