A new research note issued by Friedman Billings Ramsey Group estimates that $150 billion to $250 billion of "permanent capital" is needed to "normalize" pricing in the mortgage market. FBR says the capital is needed because many firms are trying to de-leverage at the same time. "The big question is: Who will supply this permanent capital when many investors believe that housing assets are impaired?" writes FBR. The investment banking firm predicts it will take six to 12 months for the prices "of mortgage assets to adjust and for capital to flow back into the space."
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25