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CNBC's Rick Santelli's Chicago Tea Party

RIck Santelli discussing Obama's Mortgage Plan ... Heritage Foundation ... "rick santelli" cnbc "heritage foundation&quot ...

Falling Rates Drive Acceleration in Defect Risk, According to First American's Loan Application Defect Index

January 2019 Loan Application Defect Index

The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased by 4.6 percent compared with the previous month. Compared to January 2018, the Defect Index increased by 9.6 percent. The Defect Index is down 10.8 percent from the high point of risk in October 2013. The Defect Index for refinance transactions increased by 5.1 percent compared with the previous month, and is up 20.3 percent compared with a year ago. The Defect Index for purchase transactions increased by 5.6 percent compared with the previous month, and is up 3.3 percent compared with a year ago.

Chief Economist Analysis: Why is Defect Risk Accelerating?

“The Loan Application Defect Index for purchase transactions continued its upward trend, increasing 5.6 percent in January compared with the month before, the fifth consecutive month defect risk in purchase transactions has risen,” said Mark Fleming, chief economist at First American. “Overall, the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased by 4.6 percent compared with the previous month. While overall fraud risk has been on the rise since July 2018 due partially to the impact of natural disasters, the last two months have experienced an acceleration in fraud risk – what could be driving this change?

Warren highlights her work on economic crisis in Vegas stop

LAS VEGAS — Democrat Elizabeth Warren used her first visit to Nevada as a presidential candidate to describe a squeeze on working families and a political system that she says fails to protect homeowners, including the residents of Las Vegas who were pummeled by the mortgage crisis a decade ago.

The Massachusetts senator spoke about her work as a consumer activist and her role overseeing the bailout of banks and insurers a decade ago, a job that brought her to the city to hear from residents struggling to keep their homes.

Warren said her own family almost lost their home when she was growing up and recalled one man she met in her Las Vegas visit a decade earlier who was one of millions around the country losing his home.

“You better believe one reason that I am in this fight is we can never let this happen again. Never,” Warren told about 500 people at a botanical garden and event center northeast of the Las Vegas Strip.

Warren, fresh off a Saturday swing through South Carolina and Georgia, was bundled up in a puffy coat for the unusually chilly Las Vegas weather as she appeared on an outdoor stage with an American flag backdrop and a faux sandstone formation.

Why is the Obama government starting the next housing bubble?

Seriously foloks, this reeks of stupid.

Among other remedies: favorable interest rates and down-payment assistance for minority borrowers with weak credit.


It's part of Barry's plan to destroy the U.S.