March 16, 2022

In This Issue:

  • CFPB News
  • Out-of-state Movers Not to Blame for Surging Texas Home Prices
  • 5 Implications the Omnibus Spending Bill Has for Mortgages
  • President Biden's Executive Order on Cryptocurrencies — Here’s Everything In It

CFPB News

CFPB Launches Initiative Targeting 'Junk Fees'

ALTA | March 7, 2022  
CFPB launched an initiative to collect information on alleged junk fees that will help shape the agency’s rulemaking, guidance and enforcement priorities.
 
Within the eight-page request for information, the CFPB specifically mentions title insurance and closing costs in the section focused on mortgages.
 
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CFPB Redesigns Homepage

CFPB | March 15, 2022
At the CFPB, we believe all of our work should be rooted in research and experience from the very people we aim to serve. For many, our website’s homepage is the front door to the CFPB. For that reason, we are excited to unveil our homepage redesign, which benefited from extensive user research and testing.
 
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Out-of-state Movers Not to Blame for Surging Texas Home Prices

Texas A&M Real Estate Research Center | March 15, 2022
Increased migration to Texas, particularly from higher-income states like California, has prompted concerns of diminished housing affordability as newcomers search and compete for housing. However, new analysis by the Texas Real Estate Research Center (TRERC) indicates migration patterns offer little explanation for the recent runup in home prices. 
 
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5 Implications the Omnibus Spending Bill Has for Mortgages

National Mortgage News | March 11, 2022
The $1.5 trillion omnibus spending bill President Biden signed Tuesday promises to bring relief to the single and multifamily mortgage markets by heading off several threats to operations supporting the flow of funds into U.S. housing.

In addition to funding broad, systemic risk-management measures like a 72-hour cyberattack reporting requirement, the 2,741-page bill avoids a federal shutdown, which could’ve impeded the functioning of a domestic housing-finance market largely dependent on its government ties. Although government and industry stakeholders have made strides in their preparedness for business continuity concerns after having to navigate several large-scale natural disasters, the pandemic and past lapses in federal funding authorization, government shutdowns have remained a significant threat to the housing market.
 
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President Biden's Executive Order on Cryptocurrencies — Here’s Everything In It

CNBC | March 9, 2022
U.S. President Joe Biden signed an executive order on Wednesday calling on the government to examine the risks and benefits of cryptocurrencies.

It’s a long-awaited directive that has had the crypto industry on edge, not least due to growing regulatory concern around the world surrounding the nascent digital asset market.

There had been reports of a divide between White House officials and Treasury Secretary Janet Yellen leading to delays in the policy rollout.
 
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