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Neugebauer Introduces CFPB Reform Bill

U.S. Representative Randy Neugebauer (R-Texas) introduced a bill this week intended to replace the director of the Consumer Financial Protection Bureau (CFPB) with a five-member commission. He announced his plan to support legislation in his testimony at House Financial Services Committee (HFSC) hearing held on Tuesday, March 3.

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Lack of Credit Availability, Low Inventory Challenging Housing Market

Two challenges facing the U.S. housing market is currently facing are a dearth of credit creation and a lack of available inventory, according to a report released Wednesday by the Kroll Bond Ratings Agency (KBRA) that is scheduled to be presented Thursday by KBRA Senior Managing Director and Head of Research Christopher Whalen at the 2nd Annual Real Estate Symposium in Salt Lake City, Utah.

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Ratings Agency Publishes Report on Freddie Mac Loan Loss Data

Fitch Ratings has published a special report providing insights into Freddie Mac's loan loss data comparing observed loss performance for Agency loans to both non-Agency loans and the fixed loss severity schedules the Enterprise uses in risk-sharing transactions, according to announcement from Fitch Ratings.

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Servicers Completed Mortgage Solutions for 1.88 Million Homeowners in 2014, Report Shows

Approximately 1.88 million homeowners nationwide received a mortgage solution in the form of a loan modification, short sale, deed-in-lieu of foreclosure, or other workout plan during 2014, according to data released Wednesday by HOPE NOW. The 2014 numbers brought the total number of solutions the industry has offered to homeowners since 2007, when HOPE NOW began tracking the data, up to 23.2 million, representing a combination of both long and short term tools.

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AACER: Bankruptcy Filings Continue Year-Over-Year Decline, But Rise 10 Percent Monthly

While bankruptcy filings nationwide in February continued their trend of year-over-year decline since the foreclosure crisis peaked in 2010, the number of filings rose slightly from January to February, according to AACER bankruptcy data reported by Epiq Systems. While February featured one fewer filing day than January did (19 compared to 20), bankruptcy filings nationwide totaled 65,002 for February, up from 59, 050 in January (an increase of 10 percent).

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RES.NET Reports Increased Demand for Custom Tasking Feature

Real estate solutions provider RES.NET has seen a rise in mortgage servicers' demand for custom tasking capabilities, which the company attributes to new regulatory changes that were added in the third quarter. More than 80 new changes were made, forcing banks to hire new full-time staff and spend more hours meeting the new demands, according to the Banking Compliance Index.

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