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Digital records are giving consumers tremendous new opportunities , Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB) told participants attending a field hearing in Salt Lake City on Thursday, but there are also a lot of questions about their access to those records and their safety. Cordray told his audience that CFPB is launching an inquiry into the digital records issue, opening a 90-day period of public comment. The results will be used to assist, "market participants and policymakers to develop practices and procedures that enable consumers to realize the benefits associated with safe access to their financial records, assess necessary consumer protections and safeguards, and spur innovation." The digital records CFPB is concerned about are financial ones. Whenever
Housing News
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Digital records are giving consumers tremendous new opportunities , Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB) told participants attending a field hearing in Salt Lake City on Thursday, but there are also a lot of qu... (read more)
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Mortgage Rate Watch
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Mortgage rates may have caught a break yesterday , but today is a different story. Or perhaps it's a different kind of break... a bad one... more of a compound fracture really. Not only did rates resume their move higher, but they skipped right to ne... (read more)
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Housing News
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Borrowers apparently noted a slight uptick in mortgage rates and pushed refinancing higher in October. Ellie Mae's Origination Insight Report notes an increase in that share of lending during the month that affected all loan types. There was an overa... (read more)
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MBS Commentary
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Treasuries technically hit overnight highs late in yesterday's session, but it was the overnight hours that saw the more substantial weakness. Long-time MBS Live members may recall the 2.34% pivot point as perhaps the starkest dividing line (... (read more)
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Rob Chrisman
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Just how much did rates go up recently? Freddie Mac's Primary Mortgage Market Survey showed a 37 basis point (.375) jump in the average 30-year rate, week-over-week, to 3.95%. Convincing anyone with rate less than that to refinance is going to be tou... (read more)
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MBS Commentary
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Google up the 5-timer club if you're not familiar. We have a new inductee today, although it's not exactly the same club as seen on Saturday Night Live. Our version of the 5-timer club refers to an elite group of trading days that have ... (read more)
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