CFPB Mortgage Guide, 21st Century Glass-Steagall Act, Bipartisan FHA Bill, Dodd-Frank Finally Complete?, Generation X Home Buyers, Tim Rood’s Housing Riddle, Shadow Inventory Falls, Less Leverage Will Kill Banks, On Housing Discrimination

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(has link to guide) CFPB issues Mortgage Rules Readiness Guide – By Richard J. Andreano, Jr. – … that is intended “to help financial institutions come into and maintain compliance with” the CFPB’s mortgage rules finalized in January 2013.  Unlike the CFPB’s small entity compliance guides, the CFPB states that it designed the Readiness  Guide “for use by institutions of all sizes.” The Readiness Guide has four parts, consisting of a summary of the rules, a readiness questionnaire, FAQs, and tools. CFPB Monitor

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(21st Century Glass-Steagall Act) U.S. senators introduce bill to break up megabanks – (Reuters) – A small bipartisan group of U.S. senators on Thursday introduced legislation that would break up Wall Street’s megabanks by separating traditional banking activity from riskier financial services. 
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Senators reach agreement on bipartisan FHA solvency billHousingwire – Senators Tim Johnson, D-S.D., and Mike Crapo, R-ID, reached a bipartisan agreement on legislation that aims to ensure the solvency of the Federal Housing Administration. … plans to release the details publicly next week. … 
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(You don’t say!) Dodd-Frank complete by end of the year, financial regulators say – By Megan Hopkins – It’s been nearly three years since the implementation of the Dodd-Frank Act, so it seems like as good a time as any to reflect on what has been accomplished, what still needs to be done and how the Dodd-Frank Act sits with other regulatory reform projects. – Housingwire 
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(many stats) Young Homeowners Banking on Homes for Financial Future – National Mortgage Professional – … (NAR) Home Buyer and Seller Generational Trends evaluated the generational differences of recent homebuyers and sellers … The study found that the largest group of recent buyers was Generation X Americans, those born between 1965 and 1979, who comprised 31 percent of recent purchases, followed closely by Millennials, sometimes called Generation Y, those born between 1980 and 2000, at 28 percent. … 
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(Tim asks tough questions) A Housing Riddle: Why did the Homeowner Stop Making their Mortgage Payments? – Tim Rood – Here is a riddle:  Why did the homeowner stop making their mortgage payments? Because they ran out of money. The riddle does not end with “because they only put down 3.5 percent of the purchase price.” It is the difference between bad economic policy and bad lending policy – Federal Housing Administration (FHA) lending policy in this example. – more Voice of Housing at Mortgage News Daily 
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Report: Shadow Inventory Falls 34% from 2010 Peak – BY: ESTHER CHO – Fewer than 2 million homes remain in shadow inventory as of April, CoreLogic reported Tuesday. This puts shadow inventory at a supply of 5.3 months and represents an 18 percent year-over-year decrease. – DS News 
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(Safer banks implies less lending) Regulators Propose Rule to Double Leverage Ratio for Biggest Banks – BY: ESTHER CHO – Federal regulators announced a proposal Tuesday to double the leverage ratio for the “largest, most systemically significant” banks. In separate statements Tuesday, the Office of the Comptroller of the Currency (OCC), FDIC, and the Federal Reserve Board (FRB) proposed a rule that would require insured depository institutions of certain banks to meet a 6 percent supplementary leverage ratio to be considered “well capitalized.” – DS News 
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(HUD vs. silence) When Housing Discrimination Is Acceptable – BY PHIL HALL – During the past few weeks, there was a surplus amount of media attention focused on the subject of same-sex marriage. However, far less attention was given to a parallel issue: the question of housing discrimination against same-sex couples. – Progress In Lending 
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