Recent Real Estate News
Another Republican senator introduces bill to "dismantle" CFPB
Sen. Ted Cruz, R-Texas, introduced a bill repealing Title X of the Dodd-Frank Wall Street Reform Act, which established the CFPB. But Cruz wasn’t alone last week in launching a full-scale assault on the controversial governmental agency. Sen. Mike Rounds, R-South Dakota, also introduced a bill last week that would kill off the CFPB, albeit in a different way than Cruz’s bill.Hensarling compares CFPB to a tyranny
It’s probably safe to say that House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is no fan of the Consumer Financial Protection Bureau. And as Hensarling told the Dallas Morning News in a recent interview, there are plenty of good reasons to change the CFPB.California home sales start 2017 on a strong note
While winter usually means a decline in home sales, California just saw its first increase in home sales between December and January since 2012, a sign that the Golden State could be in for a strong housing year.California regulator reveals what Ocwen did wrong
Ocwen Financial announced late last week that it successfully extricated itself from the mortgage servicing restrictions placed on it by the California Department of Business Oversight. The final settlement total included $198 million in debt forgiveness. So why was the settlement so big? Turns out that Ocwen’s operations weren’t exactly squeaky clean for the last few years.Apartment landlord sues Airbnb for encouraging tenants to break lease
Airbnb is now facing a lawsuit from one of the largest landlords in the U.S. The landlord claims Airbnb is purposefully encouraging tenants to break their lease, and creating an unsafe environment for the complex. Airbnb, however, does not agree, and says it plans to fight back against the lawsuit.Goldman Sachs: Mortgage interest rates will rise to 5.5% by 2019
The most recent data from Freddie Mac shows that the average interest rate for a 30-year, fixed-rate mortgage is around 4.15%, but interest rates are going to increase by a significant margin over the next few years, analysts from Goldman Sachs said in a new report. Here are the details.White House spokesperson: Trump believes CFPB is "unaccountable"
Given the Trump administration’s recent maneuvering to fire Consumer Financial Protection Bureau Director Richard Cordray, it’s probably not a surprise that President Donald Trump disagrees with the U.S. Court of Appeals for the District of Columbia Circuit’s decision to rehear a challenge to the CFPB’s constitutionality.CFPB seeks increased lending to "credit invisible" borrowers
The Consumer Financial Protection Bureau is joining the growing chorus of groups trying to expand access to credit for consumers who lack enough credit history to obtain a credit score, also known as the credit invisible. During a field hearing in Charleston, West Virginia on Thursday, CFPB Director Richard Cordray said the bureau is officially is seeking public feedback on the benefits and risks of tapping alternative data sources. Do you have any comments you want to submit?Judge rules that CFPB can investigate seller-financed home sales
The Consumer Financial Protection Bureau earned a big victory in court Thursday when the Court of Appeals for the District of Columbia Circuit ruled in favor of the CFPB in its fight against PHH. And that wasn’t the only positive result the CFPB got in a federal court this week. A federal judge also ruled that the CFPB can pursue an investigation into seller-financed home sales and the operations of Harbour Portfolio Advisors.New York unveils final cybersecurity regulations
Last year, the state of New York announced a series of sweeping regulations that require banks, insurance companies, and other financial services companies to significantly increase their cybersecurity programs. The rules are set to take effect on March 1, 2017, and now, with less than two weeks until the rules take effect, New York is releasing the final version of the regulations.