March 2016 - RIP Dodd Frank

TheMReport — News and strategies for the evolving mortgage marketplace.

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64 | TH E M R EP O RT FINAL THOUGHTS Final Thoughts Profits, lending standards, and the future of housing took center stage as industry commentators weighed in and summed up the biggest news to hit the mortgage industry this month. "So yes, [it] looks a lot like subprime." Bloomberg writer, TRACY ALLOWAY comparing the fall in oil prices with the subprime mortgage crash. "The Super Bowl ad that set off economic alarm bells." NEIL IRWIN of the New York Times on Quicken Loans' "Rocket Mortgage" ad, which some criticized for promoting irresponsible lending. "They had an agenda." MICHAEL A. CARPENTER, former CEO of Ally Financial, to the New York Post, on the CFPB getting the bank to settle allegations it charged higher interest rates to minority customers than white customers. "Freddie and Fannie are making money again, and everyone wants it." THE WASHINGTON POST upon the news that both GSEs posted a profit for Q4 2015 and year-end 2015, and since coming under conservatorship have returned more than $187 billion to the U.S. Treasury. "The reasons the actions weren't bigger and bolder is we didn't have $800 billion." AUSTAN GOOLSBEE, Obama's former Chairman of the Council of Economic Advisers, at an event sponsored by the Brookings Institution on why the Obama administration didn't do more to help underwater homeowners.

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