Protected: April 2018 Paper Source Journal
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Millennials Not Saving for Retirement, Believing Government Will Take Care of Them
Two-thirds of Millennials who were polled said they have saved nothing for retirement. Many believe they do not need to save because capitalism will be abolished and replaced with socialism, which will take care of their needs. [In other words, they are passively preparing to live on the plantation.] In a hilarious piece that just …
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Cities Where Owners Are Still Underwater
Though homeowners are gaining equity across the country, the number of underwater borrowers in some areas remains high. The metro with the highest share of homeowners with negative equity is Miami-Miami Beach-Kendall, Fla., where the number of those in the red has grown 13.1 percent year over year, according to a new report from CoreLogic. Nationwide, the …
Where Americans Are Moving
Baby boomers are moving to retirement hotspots and millennials are moving to the suburbs, according to an analysis of newly released estimates from the Census Bureau by The Wall Street Journal. The population of federally designated retirement destination counties rose at almost three times the rate of national population growth last year. Meanwhile, the suburbs …
More CNN Fake News: Nonbank mortgage lenders are “toxic”
In a recent CNN Money article that reads like a press release from the banking industry, Donna Borak reported that a growing number of mortgages being financed by nonbank lenders means that danger is again lurking in the housing industry. Borak led the article with a sub-headline that read, “Low interest rates. Easy credit. Poor …
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Florida May Require Note Sellers To Be Licensed As Lenders — Urge Governor To Veto
If you buy or sell notes in Florida, you need to jump on this: On March 1 the Florida Senate unanimously passed CS/HB 935 (it unanimously passed the House on Feb. 21), a bill that appears to require anyone who sells business loans to be licensed as a lender. Formerly, companies making business loans solely …
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Senate May Vote On Dodd-Frank Overhaul This Week
The Senate passed a motion Tuesday to proceed to debate on a bill that would overhaul major parts of the Dodd-Frank Act and is expected to vote on the bill at some point this week. Late last year the Economic Growth, Regulatory Relief and Consumer Protection Act, which was sponsored by Banking Committee Chairman Mike Crapo, …
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More Mortgage Wire Fraud: Execs at Vanguard Funding admit to embezzling $8.9 million
The former chief operating officer and chief financial officer of a New York mortgage lender admitted in court this week that they conspired to misappropriate more than $8.9 million from warehouse lines of credit that were meant to fund mortgages. According to the U.S. Attorney’s Office for the Eastern District of New York, Edward Sypher, …
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An Exclusive Peek Into Elizabeth Warren’s Luxurious CFPB Headquarters
Taxpayers no longer have to wonder how their money has been spent at the newly renovated headquarters at the Consumer Financial Protection Bureau. Mick Mulvaney, the CFPB’s acting director, graciously allowed The Daily Caller News Foundation to take an exclusive tour on Feb. 1 of the federal office — founded by Democratic Sen. Elizabeth Warren …
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UPDATED: CFPB head wants to hear from you on how to fix it — says it needs NO MORE MONEY!
It’s clearly a whole new world at the Consumer Financial Protection Bureau with Mick Mulvaney in charge. On Jan. 17 he said the CFPB needs NO MORE MONEY. When was the last time you heard a government official say that??!! Now Mulvaney wants public comment on the bureau’s enforcement, supervision, rulemaking, market monitoring, and education …
