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Author Archives: Christine Layton

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Christine Layton is an editor and freelance writer in Nevada with a passion for American finance. She covers mortgage and business news for US Finance Post.

Mortgage Applications Spike 7.9%

Mortgage Applications Spike

Mortgage applications spiked last week with both refinancing and purchase applications climbing, according to the Mortgage Bankers Association. The MBA said its seasonally adjusted index of mortgage application activity, including purchase and refinance demand, increased 7.9% in the week ending on September 12. The seasonally adjusted index of refinancing applications rose 10.3%, while the gauge for purchase loans, which is ... Read More »

Rental Construction Soars to 25-Year High as Homeownership Falls

Rental Construction Soars to 25-Year High as Homeownership Falls

While the single-family construction sector has experienced slow growth, the multifamily sector, particularly apartment construction, continues its fast rebound, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for the month. The report adds greater validation to the recent Multifamily Production Index (MPI) from the National Association of Home Builders. This indicator for the multifamily market gained 5 points ... Read More »

Communities Demand End to HUD Distressed Loan Sales

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Community groups and homeowners in 10 cities have started to rally at local offices of the Department of Housing and Urban Development (HUD), calling for an end to a program that sells off delinquent loans to investors, HousingWire reports. The groups are protesting the HUD Distressed Asset Stabilization Program, which was created two years ago to auction delinquent loans to ... Read More »

Morgan Stanley to Pay $95 Million in Mortgage Settlement

Morgan Stanley to Pay $95 Million in Mortgage Settlement

Morgan Stanley has agreed to pay $95 million to resolve a lawsuit that accused the bank of misleading investors in mortgage-backed securities leading up to the financial crisis. The settlement comes after years of litigation by investors over false and misleading statements about the securities that went bad. This deal stems from a lawsuit by the Public Employees’ Retirement System ... Read More »

Economy Adds Just 142,000 Jobs in August, Reaches 2014 Low

Economy Adds Just 142000 Jobs in August

U.S. job growth slowed to its lowest pace of 2014 in August after six months of steady gains. Nonfarm payroll employment rose by just 142,000 in August, well below the replacement level and far below expectations, according to the new jobs report released by the Bureau of Labor Statistics on Friday. This drop represents a month-over-month drop of 60,000 jobs ... Read More »

Mortgage Applications Rise Modestly, Driven by Refinancing

Mortgage Applications Rise Modestly, Driven by Refinancing

Applications for mortgages rose last week on declining interest rates, according to the Mortgage Bankers Association. The MBA said its seasonally adjusted index of mortgage application activity, including both home purchase and refinancing demand, rose a modest 0.2% in the week ending on August 29. The seasonally adjusted index of refinancing applications rose 1.4%, while the gauge of applications for ... Read More »

Goldman Sachs Nears $1.1 Billion FHFA Mortgage Settlement

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Goldman Sachs Group is close to a deal to pay a U.S. housing regulator close to $1.1 billion to settle claims it did not disclose risks on mortgage bonds it sold in the lead-up to the financial crisis, the Wall Street Journal reports according to sources close to the matter. A settlement with the Federal Housing Finance Agency (FHFA), which ... Read More »

CFPB Fines Subprime Auto Lender $2.75 Million

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The Consumer Financial Protection Bureau has fined Texas subprime auto lender First Investors Financial Services Group Inc. $2.75 million for knowingly giving inaccurate information to credit bureaus for at least three years. This potentially harmed the credit scores of tens of thousands of consumers. According to the CFPB, the company failed to fix known flaws in its computer system that ... Read More »

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