The U.S. index is only 1.8 percent below its March 2007 peak By Jeff Sorg, OnlineEd Blog, July 27, 2015 Washington, D.C. – U.S. house prices rose in May, up 0.4 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported […]
Millennials are ready to give up some conveniences in order to finance a home purchase (Washington DC, July 14, 2015) — A majority of millennials (ages 24-34) are willing to sacrifice modern day conveniences like cell phones, internet, cable and Starbucks in order to save for a down payment on a home. A new survey from […]
Equifax report – First quarter mortgage originations soar! (Jeff Sorg, OnlineEd) – According to the Equifax National Consumer Credit Trends Report, total mortgage origination balances hit $466 billion in the first quarter, a 74.4% increase from the same time a year ago. These are a few key takeaways from the report: First mortgages led the growth, […]
The Consumer Financial Protection Bureau (CFPB) has published its enhanced public-facing consumer complaint database (Jeff Sorg, OnlineEd) – In June 2012, the CFPB launched its Consumer Complaint Database, which is the nation’s largest public collection of consumer financial complaints. In March 2015, the Bureau finalized a policy to empower consumers to publicly share their stories when they submit […]
CFPB issues proposed amendment to move TRID implementation date from August 1, 2015 to October 3, 2015 BREAKING NOW – – – (Jeff Sorg, OnlineEd) – The Consumer Financial Protection Bureau (CFPB) today issued a proposed amendment to the Know Before You Owe mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. […]
The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 3, 2015 DEVELOPING STORY – – – (Jeff Sorg, OnlineEd) – Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure rule: […]
“Builders are reporting more serious and committed buyers at their job sites” (Jeff Sorg, OnlineEd) – The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released June 15, 2015, shows that builder confidence in the market for newly built, single-family homes in June rose five points to a level of 59 on the […]
(Jeff Sorg, OnlineEd) SF Gate is reporting that a judge has ruled Gov. Jerry Brown and the Legislature illegally raided a state fund that was created to help distressed homeowners and took $331 million to balance the budget. The article alleges that money was taken from a fund that contained California’s share of a $5 […]
Free online orientation and training course for real estate agents who still need to get ready for October 3, 2015 TRID (Jeff Sorg, OnlineEd) – When it comes to TILA-RESPA Integrated Disclosure, training is key for your real estate company’s successful transition, and to avoid delayed closings. To help get you up to date, OnlineEd is offering an […]
(Jeff Sorg, OnlineEd) – Federal agencies today issued a final interagency policy statement establishing joint standards for assessing the diversity policies and practices of the entities they regulate. Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) required the Federal Reserve Board, the Consumer Financial Protection Bureau, the […]