The amount of home equity outstanding hit a record in 2017, surpassing the previous peak seen in the run up to the financial crisis. Economists at the Federal Reserve Bank of New York note that equity extraction by borrowers has been limited by tight underwriting standards.
Ditech CEO Tom Marano: “I am pleased with the improving performance of our servicing business; however, I am disappointed with the performance of the origination business...”
The trade group argues that if lenders organized as pass-through entities do not receive the new deduction, they will be at a competitive disadvantage...
Interim CFPB chief Mick Mulvaney: “We are still closely associated with Sen. Elizabeth Warren. We are her baby. That’s not where a gold-standard regulator should be.”
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