News 

FINANCE: Thinking About Getting Your First Mortgage? Here’s How To Start Saving

“Blake stresses that while Help To Buy looks appealing, you should always seek proper mortgage advice first, as it depends on your personal circumstances” writes unknown author for huffingtonpost.com. Read on for some expert tips on saving for a deposit and finding a mortgage that’s right for you. [Read More: What does overpaying on your mortgage mean and should you be doing it?] 1.The government will lend you up to 20% of the sale price, then you borrow the rest from your mortgage lender.Before you do anything, use a mortgage…

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Markets News 

3 reasons why the housing market isn’t as strong as it seems

“Here are three reasons why the housing market is underperforming the broader economy: First, student debt” writes Sanjiv Das for marketwatch.com. It’s worth noting the deterioration in the housing market because of its effect on the broader economy.So, what happens in the housing market is quickly felt across our country.Accordingly, as the CEO of a large mortgage company, I would expect the housing market to be robust, given the economic backdrop.By many measures, the U.S. economy is doing extremely well — but when it comes to the nation’s housing market,…

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AUD News 

Australia’s bruised big banks offered respite in inquiry wash-up

“Broker-originated loans currently account for up to half of some of the big banks’ mortgage books” reports businessinsider.com. Finance Brokers Association of Australia managing director Peter White said the big banks would use their branches to take the lion’s share, at a cost to consumers.The big Australian banks also need to retain sufficient capital to meet new regulator-imposed requirements being imposed in Australia and New Zealand, where they also operate.Many of the wealth management, insurance and financial planning units divested by big Australian banks in recent years were profitable but…

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Crypto News 

Switzerland: Crypto Bank Seba Partners With Mortgage Bank Hypothekarbank

“Switzerland-based crypto bank Seba Crypto AG has signed an agreement with Swiss mortgage bank Hypothekarbank Lenzburg AG to use its core banking system, Finstar, Cointelegraph auf Deutsch reports on Jan. 31” writes Miranda Karanfili for cointelegraph.com. According to the press release, Seba will handle blockchain and crypto-specific developments independently. The license, which the entity has yet to receive as per the recent press release, would allow the bank to legally conduct crypto trading and investments with other banks and investors.Seba CEO Guido Bühler was quoted in the press release as…

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News 

Kevin O’Leary says you need to have all your debts paid off by age 45 — including your mortgage

“Even good savers need two decades of investment compounding to retire on their own terms” writes Mitch Tuchman for marketwatch.com. The problem, as O’Leary explains, is that debts compound.Paying down debts past 45 will mean less money growing in your retirement savings and more paid out to cover outstanding liabilities. That way your money will compound into a solid financial base for retirement. Source: marketwatch.com

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News 

GE to pay $1.5 billion to settle Justice investigation of high-risk mortgages

“General Electric has agreed to pay $1.5 billion to settle a Justice Department investigation of high-risk mortgages handled by its lending business before the 2008 financial crisis” reports washingtonexaminer.com. The company learned that investigators were looking into GE Capital and its WMC subsidiary about three years ago, in December 2015, and Justice subsequently served subpoenas.The U.S. mortgage market surged to about $15 trillion as lending standards loosened due to the securities. GE completed the sale of WMC in December 2007, a transaction it said at the time was prompted by…

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News 

Exclusive: U.S. regulator drops fine against Citi over fair-lending claims – sources

“Instead of a fine, the OCC issued a warning after Citi assured the regulator it had repaid borrowers and fixed faulty lending policies, the people said this week” writes Midwest Communications Inc for 95kqds.com. Reuters reported in October that the OCC was mulling sanctions against Citi for failing to give minority customers mortgage discounts that were available to many other borrowers. Source: 95kqds.com

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Markets News 

Experts dismiss talk of a ‘housing collapse’

“The decline in mortgage rates is very well timed ahead of the spring selling season” writes Feedback Businessinsider Com for aol.com. “No, the fundamental back-drop for housing is not particularly good, but the group rolled over before the data on housing turned down last year.”Don’t believe the narratives of a housing collapse,” Bank of America Merrill Lynch economists led by Michelle Meyer told clients last week.”With recent pressure on both volume and margin, many have become concerned that the housing market has completely stalled,” Miller said on the quarterly earnings…

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Markets News 

Experts are throwing cold water on a ‘housing collapse’

“The decline in mortgage rates is very well timed ahead of the spring selling season” writes Rebecca Ungarino for businessinsider.com. Still, a handful of market strategists and economists taking the sector’s pulse are throwing cold water on fears of a severe downturn.”No, the fundamental back-drop for housing is not particularly good, but the group rolled over before the data on housing turned down last year.”Don’t believe the narratives of a housing collapse,” Bank of America Merrill Lynch economists led by Michelle Meyer told clients last week.”With recent pressure on both…

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