Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-64059 Tue, 26 Jun 2018 13:35:16 GMT How To Beat An FHA Foreclosure Without Acting Like A Crazy Cat Lady http://implode-explode.com/viewnews/2018-06-26_HowToBeatAnFHAForeclosureWithoutActingLikeACrazyCatLady.html iehi-feed-64052 Sat, 23 Jun 2018 16:21:20 GMT Aggressive FHA Mortgage Foreclosure Defense That Works! http://implode-explode.com/viewnews/2018-06-23_AggressiveFHAMortgageForeclosureDefenseThatWorks.html iehi-feed-64036 Mon, 18 Jun 2018 14:13:20 GMT Mulvaney Minion Kathy Kraninger Nominated As New Head Of CFPB http://implode-explode.com/viewnews/2018-06-18_MulvaneyMinionKathyKraningerNominatedAsNewHeadOfCFPB.html iehi-feed-64019 Thu, 14 Jun 2018 15:58:04 GMT The George Costanza Of The Trump Administration Out At CFPB http://implode-explode.com/viewnews/2018-06-14_TheGeorgeCostanzaOfTheTrumpAdministrationOutAtCFPB.html iehi-feed-64018 Wed, 13 Jun 2018 16:33:53 GMT Where FHA Loan Denials For Minorities are The Highest http://implode-explode.com/viewnews/2018-06-13_WhereFHALoanDenialsForMinoritiesareTheHighest.html iehi-feed-63968 Thu, 24 May 2018 16:37:59 GMT Judges Sing The Theme To Rawhide As Foreclosure Defense Become Harder http://implode-explode.com/viewnews/2018-05-24_JudgesSingTheThemeToRawhideAsForeclosureDefenseBecomeHarder.html iehi-feed-63912 Tue, 01 May 2018 20:10:38 GMT Sicko Pervert Landlords Settle With HUD In 3 States http://implode-explode.com/viewnews/2018-05-01_SickoPervertLandlordsSettleWithHUDIn3States.html iehi-feed-63903 Fri, 27 Apr 2018 18:31:57 GMT New York Evictions Just Became Easier For Lenders http://implode-explode.com/viewnews/2018-04-27_NewYorkEvictionsJustBecameEasierForLenders.html iehi-feed-63890 Tue, 24 Apr 2018 00:19:30 GMT Sean Hannity Cashes In! Pockets Millions Of Dollars From Your Misery http://implode-explode.com/viewnews/2018-04-23_SeanHannityCashesInPocketsMillionsOfDollarsFromYourMisery.html iehi-feed-63877 Wed, 18 Apr 2018 16:11:54 GMT Apparent Quicken Loans Fraud Costs Single Dad With 4 Kids His Home http://implode-explode.com/viewnews/2018-04-18_ApparentQuickenLoansFraudCostsSingleDadWith4KidsHisHome.html iehi-feed-63861 Fri, 13 Apr 2018 17:29:04 GMT Pervert Landlords Beware! HUD Is Coming For You! http://implode-explode.com/viewnews/2018-04-13_PervertLandlordsBewareHUDIsComingForYou.html iehi-feed-63668 Fri, 23 Feb 2018 20:28:12 GMT Fannie Mae Employee Indicted For Accepting Bribes http://implode-explode.com/viewnews/2018-02-23_FannieMaeEmployeeIndictedForAcceptingBribes.html iehi-feed-63031 Mon, 25 Sep 2017 17:41:38 GMT Congressman Introduces Bill That Would Indemnify His Former Foreclosure Mill http://implode-explode.com/viewnews/2017-09-25_CongressmanIntroducesBillThatWouldIndemnifyHisFormerForeclosureM.html iehi-feed-62971 Wed, 13 Sep 2017 17:04:05 GMT Emprise Bank Has Entire Arab-American Family Arrested http://implode-explode.com/viewnews/2017-09-13_EmpriseBankHasEntireArabAmericanFamilyArrested.html iehi-feed-62967 Wed, 13 Sep 2017 15:07:21 GMT Student Loan Debt Relief: SCAM ALERT http://implode-explode.com/viewnews/2017-09-13_StudentLoanDebtReliefSCAMALERT.html iehi-feed-62959 Tue, 12 Sep 2017 20:34:22 GMT Yes, A Reverse Mortgage Can Be Foreclosed On! http://implode-explode.com/viewnews/2017-09-12_YesAReverseMortgageCanBeForeclosedOn.html iehi-feed-62957 Tue, 12 Sep 2017 15:43:31 GMT Former Michigan Foreclosure King David Trott Quitting Congress http://implode-explode.com/viewnews/2017-09-12_FormerMichiganForeclosureKingDavidTrottQuittingCongress.html iehi-feed-62434 Tue, 20 Jun 2017 15:21:14 GMT Carrington Mortgage To Throw Korean War Hero To The Street http://implode-explode.com/viewnews/2017-06-20_CarringtonMortgageToThrowKoreanWarHeroToTheStreet.html iehi-feed-62357 Tue, 06 Jun 2017 16:53:52 GMT Americans Are Pouring Money Into Their Homes Like It's the 1990s http://implode-explode.com/viewnews/2017-06-06_AmericansArePouringMoneyIntoTheirHomesLikeItsthe1990s.html ``Americans' spending on residential construction projects -- from the pouring of foundations to home improvement -- just hammered out its strongest three-month period since 1994.

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Home sales continue to mount, albeit unevenly, and there are more one-family houses under construction now than at any time since mid-2008.

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What's more, Americans are spending more on home improvements. While a report Thursday from the Commerce Department showed a 2.9 percent drop in April outlays for improvements from the prior month, such spending was still 32.3 percent higher than it was a year ago. That's the strongest advance since January 2000, as the chart below shows.

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"The current strength of the remodeling market can be attributed primarily to economics -- low mortgage rates, strong existing-home sales, the bull stock market run, good job gains, and now more recently, wage gains," Mark Boud, chief economist at the provider of real estate research, said in a statement.

Yeah... this doesn't look peakey at all....

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iehi-feed-61525 Fri, 20 Jan 2017 22:54:59 GMT Trump takes away FHA mortgage insurance premium cut not long after being sworn into office http://implode-explode.com/viewnews/2017-01-20_TrumptakesawayFHAmortgageinsurancepremiumcutnotlongafterbeingswo.html The move undid the quarter-point decrease in the FHA mortgage insurance premium that was announced earlier in the week by outgoing U.S. Department of Housing and Urban Development Secretary Julian Castro. For most borrowers, it would have been a reduction to 0.60 percent from 0.85 percent.

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House Republicans objected to the reduction because it would have lowered the amount of funds FHA has available to cover mortgage defaults. House Financial Services Chairman Jeb Hensarling (R-Tex.) issued a statement earlier in the week saying, "the Obama administration's parting gift to hardworking taxpayers is to put them at greater risk for footing the bill for another bailout."

... "According to our estimates, roughly 750,000 to 850,000 home buyers will face higher costs, and 30,000 to 40,000 new home buyers will be left on the sidelines in 2017 without the cut," William E. Brown, National Association of Realtors president, said in a statement. "We're disappointed in the decision but will continue making the case to reinstate the cut in the months ahead."

From the perspective of FHA being a bankrupt/fraudulent insurance fund, this is a good thing. However, it's just going to get bailed out anyways (in some form), so this consists of the removal of a marginal amount of housing-finance accessibility for a significant number of people. I.e., it's probably the fiscally right thing to do, but it's pretty interesting how scrooge-like of a move this is for one of Trump's first official acts....

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