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Hutchens Law Opens Office In South Carolina

Hutchens Law Firm, a leading default service law office based in North Carolina, announced that it has opened an office in Columbia, South Carolina. The new Columbia office is the fourth for Hutchens Law Firm and the first in South Carolina.

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FHA Officer to Join CFPB

The Federal Housing Administration (FHA) will be losing another officer when Patricia McClung, senior single family housing policy adviser at FHA, joins the Consumer Financial Protection Bureau (CFPB) next month as the assistant director of mortgage markets. Earlier this week, FHA commissioner Carol Galante announced her intention to step down from her post at the end of the year.

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Fed & FDIC Provide Resolution Plan Direction

Financial institutions received additional guidance from the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Friday regarding resolution plans which the institutions will be filing in December for the second time.

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Investors Sue Federal Government Over GSE Profits

New York-based hedge fund giant Pershing Square Capital Management sued the U.S. government on August 14, alleging that common stockholders in Fannie Mae and Freddie Mac have been short changed since the government began sweeping profits from the GSEs into the U.S. Department of Treasury starting in 2012.

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FHFA Hears from Groups on Proposed Increase in G-Fees

As the Federal Housing Finance Agency (FHFA) mulls over a proposed increase in fees charged by the GSEs to provide guarantees on mortgage-backed securities (MBS), a new report from the Urban Institute (UI) suggests the agency faces a more difficult task than one might assume.

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Home Sales Decline for First Time in Five Months

Home sales for July decreased slightly from the previous month after increasing for four months in a row, according to the July 2014 RE/MAX National Housing Report released on August 14. Meanwhile, home prices fell marginally month-over-month but increased year-over-year.

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TARP Takes Another Step Toward Winding Down

The U.S. Department of the Treasury announced on August 14 that it plans to continue selling its shares of common stock in Ally Financial, thus further reducing its investment in the Detroit-based lender.

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Home Prices Rise but Show Signs of Slowing

According to the latest Residential Price Index report from FNC, home prices are still on the way up, just not at the pace they used to be. FNC found that despite continued signs of leveling off in home price appreciation, U.S. home prices were up another 0.8 percent from May to June and 2.3 percent throughout the second quarter.

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