The BP oil disaster in the Gulf of Mexico is expected to reduce home values by as much as $3 billion over the next five years, according to a new report from CoreLogic. But there is a huge 'what if' estimate as well. If the spill hits the Gulf Stream and moves through the Florida Keys and up the Atlantic Coast the RE damage could total $28 billion in lost value. See the National Mortgage News website for additional details on the story...
The lender disclosed a big investment, plus hefty, albeit declining, origination volume but revealed a major hedge-related net loss it blamed on the failed bid.
The online lender said its national bank will become the "primary originator," displacing the banks that are lenders of record. Loan buyers keep their role.
Supporters of mutual banks are lining up behind a proposed regulatory overhaul. The Fed's plan would make it easier for depositor-owned banks to raise capital.
The lender specifies a broad range for penalties but filings by the third-party originator's attorneys cite testimony where the specific formula is unclear.
The Federal Reserve governor said inflation is too high but said she ultimately voted last week to hold interest rates steady to give recent economic trends more time to play out.
Incomes have been rising faster than what buyers need to earn to afford one of these homes, but the annual gain began shrinking in January, Redfin found.
