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[ad_1] Over the last month, two of the biggest housing regulators either changed or were rumored to change leadership. In mid-September, there were talks that the Biden administration would nominate Mike Calhoun, president of the Center for Responsible Lending, as the new FHFA director, and at the end of September, Rohit Chopra was officially confirmed as director of the Consumer Financial Protection Bureau (CFPB) for a five-year term. According to coverage from Senior Mortgage Reporter Georgia Kromrei, a lot remains to be seen with both of these leadership changes, leaving the industry looking for answers. The following Q&A helps shed some light on these changes, as Kromrei answers questions on what is going on with the federal regulators.  The following Q&A is from the HW+ exclusive Slack channel and has been lightly edited for length and clarity. To join future HW+ Q&As, you can join our premium membership program here. HousingWire: To begin, could you give us more insight on what will Rohit Chopra’s focus be at the CFPB? Georgia Kromrei: So, I think for the mortgage industry, in trying to predict what Chopra’s focus will be… the good news is that there has been quite a long time since Biden nominated Chopra back in January and when he was finally confirmed by the Senate, a couple of weeks ago. The CFPB typically runs analyses of lenders’ performance and compares it to their peers — so lenders who want to avoid a redlining investigation will be looking to strengthen their internal data monitoring. That includes assessing their own performance, making sure they know who their peer group is, and who the CFPB may think their peer group is. We can also glean a little bit about what the CFPB is working on in terms of redlining from their semi-annual report, which they released a few days ago. Don’t worry, I read it so you don’t have to! This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Are you ready for the new CFPB director? appeared first on HousingWire. [ad_2] Source link

[ad_1] Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.  Winter is coming for U.S. stocks Back in early September, I asked if the stock markets could run on fumes. It’s not that economic recovery had reversed itself, but that most of the news on the economic front showed that things were softening.  Here’s a chart for iShares U.S. equities ETF, ticker IVV, courtesy of Seeking Alpha.  Yes, I asked about the economy running on fumes at the most recent peak. And markets appear to have run out of gas, for now.  In two very interesting back-to-back, hold-my-beer tweets, the Globe and Mail’s Scott Barlow suggested that winter might be coming for U.S. stocks.  That’s the suspicion of Michael Wilson, Chief Investment Strategist at Morgan Stanley.  Subs: "‘Winter is coming’ for U.S. corporate profits" https://t.co/dNZoaFYKDN pic.twitter.com/xFjbIo20Uj — Scott Barlow (@SBarlow_ROB) October 12, 2021 Wilson sees headwinds this earnings’ season. And again it is largely related to the slowing growth in the market and the change in chatter. The current news is not as good as the news from a few months previously. He questions if we might see a 10% or 20% correction.  In this Making Sense of the Markets post, I mentioned how margin calls might start to cascade at a 20% pullback, putting additional pressure on any market correction. It will be interesting to keep an eye on that correction level and margin calls.  But keep in mind, through all of this, stock markets can run on fumes. On one occasion, we then had the lost decade for U.S. stocks.  That second Barlow tweet “of concern” suggests that guidance—the company’s projections for their own future earnings and revenues—could be ugly.  BofA: 'Expect an in-line quarter, but guidance could be ugly" pic.twitter.com/V8XQ7UgjlK — Scott Barlow (@SBarlow_ROB) October 12, 2021 That guidance concern is according to a Bank of America (BAC) report. It expects strong earnings in-line with consensus. But it might be the companies’ outlook for the future that might cause markets to wobble.  As I wrote on my own website, I see good news in the markets, but I know that markets are forward-thinking and forward-looking, though.  BAC sees big challenges for earnings and growth rates in 2022.  I am certainly suggesting that I know (or that anyone knows) how the markets will digest the Q3 earnings season. That said, we might take these “Winter is coming” and other dire suggestions as a reminder that all good things must come to an end. And that includes robust bull markets.  Yes, some investors and portfolio managers do like to read the tea leaves and adjust their portfolios based on how they perceive the risks and economic conditions and trends.  Some are better at that than others.  And this won’t help the cause, gross domestic product (GDP) estimates are now starting to come down, but not to the level of the Atlanta Fed …  Economists surveyed by ⁦@Bloomberg⁩ catching down to other lower forecasts (from sources like ⁦@AtlantaFed⁩, which is at only +1.3%) for 3Q21 GDP … current Bloomberg consensus is at +4.8%; estimate for 4Q21 has moved down to 5% pic.twitter.com/9oWqsPDGLQ — Liz Ann Sonders (@LizAnnSonders) October 12, 2021 Earnings season kicks off in the U.S.  We now have the opportunity to look at the actual third quarter Q3 earnings and forward guidance for U.S. stocks. Earnings season is under way.  Let’s have a peek at a select group. There were many banks and diversified financials that were batting lead off this Q3.  U.S. Bancorp (USB) had very strong numbers, and it beat on earnings and revenue.  Bank of America (BAC), Morgan Stanley (MS) and Wells Fargo (WFC) all delivered strong numbers. The banks and investment houses are well situated as we continue to move to the other side of the pandemic. They are seeing improved consumer strength, consumer health and improved business conditions.  Here’s a taste of the U.S. financial terrain, courtesy of a Wells Fargo summary on Seeking Alpha.  The headline read: “Wells Fargo Q3 earnings rise on credit benefit, consumer and commercial banking.” If it’s too long to read, I’ve got some key take-away points for you here:  Wells Fargo Q3 earnings beat the Wall Street consensus and was helped by a provision from credit loss benefit and strength in its consumer banking, commercial banking, and wealth and investment banking divisions. Consumer banking and lending net income of $2.46B climbed 15% from Q2 and 181% from Q3 2020. Commercial banking net income of $759M fell 3% Q/Q and rose 295% Y/Y. Corporate and Investment Banking net income of $1.53B held even with Q2 and rose 41% Y/Y. Wealth and investment management net income of $579M gained 25% Q/Q and 38% Y/Y. Loans increased to $862.8M at Sept. 30, 2021 from $853.3 at June 30, 2021; compares with $920.1M at Sept. 30, 2020. Deposits at Sept. 30, 2021 of $1.47B increased from $1.44B at June 30 and $1.40B at Sept. 30, 2020. Q3 provision for credit loss was a benefit of $1.40B vs. benefit of $1.26B in Q2 and cost of $769M in Q3 2020. There is strength across the financial industry. Financials are known to be a good hedge against inflation and have been enjoying a robust 2021. They can also prosper in a rising rate environment, an event we might see continue as inflation worries persist.  Courtesy of S&P Global we see that financials top this leaders and laggards list for the third quarter.  Those financials listed above were off to a good start in Thursday’s (October 14) trading after announcing their results.  Here’s a few other notables with interesting themes and stories.  We know that the world runs on chips (semiconductors). It is a modern commodity in my eye. And there is an ongoing and perhaps accelerating chip shortage.  It may be no surprise that Taiwan Semiconductors (TSM) knocked it out of the park. From that CNBC post overview of stocks that are making

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[ad_1] Wall St ends higher as Goldman rounds out parade of strong bank results [ad_2] Source link

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[ad_1] For this week’s HW+ member spotlight, we feature Tim Anderson, president of the eMortgage Division at Evolve Mortgage Services. Anderson has over 35 years of industry experience having worked on both the lender and vendor side of the business, and in his current role, he is responsible for developing product and corporate strategy and strategic partner relationships that enhance and drive adoption of their digital mortgage platform and services. Prior to joining Evolve, he was senior vice president of Digital Strategy and Product Innovation for MortgageConnect. Below, Anderson answers questions about the housing industry: HousingWire: To start off, what is your current favorite HW+ article? Tim Anderson: My favorite HW+ article at the moment is “The future of mortgage closings: Where do we go from here?“. The article included interviews with the right SME’s (many publications quote people who are not even doing or involved). It was educational, breaking the subject down into distinct and digestible sections so even novices could follow and understand, and it covered something relevant in terms of trend. HousingWire: What was one of your biggest opportunities in the industry? Tim Anderson: When Microsoft purchased Tuttle Decision Systems back in 1999, I was interested in their logic and how they evaluated the mortgage marketplace. This was when Microsoft was just getting into the internet space with MSN and also their MS Office Enterprise bundle. Because it was Microsoft entering the mortgage space, it created quite a backlash from the traditional software and lender players as to what was their end game and goal.  HousingWire: When have you felt success in your job? Tim Anderson: I finally got people adopting “e!”  I have been evangelizing the benefits of SMARTDocuments and eMortgages ever since Fannie and Freddie announced this thing called a SMARTDoc eNote and got MISMO to approve and support it. That was way back in 2001 and I really thought that lenders and investors would see the clearly obvious and logical benefits of implementing this in the next few years. Well, those years turned into 20 and it really was not until COVID-19 hit and many people had no choice but to implement a way to eClose remotely that we started to see mainstream adoption. HousingWire: Lastly, what 2-3 trends that you’re closely following? Tim Anderson: First, I am obviously tracking to see if Congress will pass the SECURE Act, which, much like UETA and ESIGN did for eSign, would primarily create a national standard for eNotary as well.  Second, I am following MISMO 3.x “Verifiable” eNote, which will finally deliver on the promise of ensuring that the data within the document is as clean, current and compliant as possible. If people have been tracking the benefits of blockchain and SmartContracts, our eVault and SMARTDocs currently supply many of the same benefits. Lastly, I am following new ID verification/authentication methods to ensure those who are eSigning and doing business are the right authorized people to be conducting business with. To become an HW+ member, click here. For more information on HW+ benefits, click here. To view past issues of our HW+ exclusive HousingWire Magazine, go here. The post HW+ Member Spotlight: Tim Anderson appeared first on HousingWire. [ad_2] Source link

[ad_1] The post Toluna Review for 2021 – Earn Extra Cash From Surveys appeared first on Millennial Money. Toluna is a survey site that pays users to share their opinions. Unlike many other paid survey sites, Toluna allows you to choose surveys about things that interest you. Check out our Toluna review to see if this is the right way for you to earn extra cash. As a consumer, your opinions, attitudes, and beliefs carry tremendous value. Designers and advertisers need this type of information to create and market useful, enjoyable, and profitable products. Without consumer feedback, creating products would be a very difficult task! Paid survey sites like Toluna are growing in popularity among people looking for ways to earn money on the side. You won’t get rich as a Toluna Influencer. But it’s a convenient and fun way to make some extra income in your spare time.  Toluna Overall Rating 7 Bottom Line Toluna is a survey site that pays users to share their opinions. Unlike many other paid survey sites, Toluna allows you to choose surveys about things that interest you. Pros Generous signup bonus and referral reward Direct cash payouts Social community aspect Fast and easy to sign up Cons Payment threshold of 60,000 points to cash out Sign up can feel intrusive and requires home address Some surveys can take a long time Customer support is lacking Bonuses 9.0 Customer Support 7.0 Referral Program 7.5 Security 8.5 Keep reading this Toluna review to learn all about how the platform works and whether using this survey site to earn some extra cash is worth your time. or, skip straight to the section on how to sign up for Toluna. What Is Toluna? Toluna is one of the oldest and most reputable internet survey sites. It refers to its community of survey-taking partners as “influencers.” This has nothing to do with the social influencers you see on Instagram. Instead, it’s all about taking surveys and providing feedback to influence corporate product strategy. As a Toluna Influencer, you’ll have the ability to answer questions about products that matter to you. And along the way, you’ll earn points you can redeem for gift cards or cash payouts. Toluna Toluna is easy to join and pays you for your opinion on all different types of products. Sign Up with Toluna Toluna Features  Toluna is full of fun and engaging features. Here’s a breakdown of what to expect as a member.  Quick profile surveys  Toluna issues quick profile surveys that vary in length and payout. These questionnaires help the company decide whether you’re a good match for higher-paying surveys. The more profile surveys you complete, the better the site becomes at understanding your interests. These surveys should take only a minute or two of your time. Longer surveys Depending on your answers to your profile questionnaires, Toluna may send you longer surveys that take around ten to fifteen minutes to complete. The site tells you upfront how long each survey should take, what it’s about, and how much you’ll earn upfront. This way, you can choose whether or not it’s worth your time. Product testing Toluna offers a product testing feature that can potentially put emerging products in your hands before they hit the general market. First, you have to sign up for product testing opportunities through the site. If you’re selected, the company will send you an item in the mail to try and keep. Then, all you have to do is use the item and give some feedback. Mobile app If you’re like most people, you’re on your smartphone all day. You glance at your phone when waiting for the bus, hanging out around the house, and moseying around on your lunch break. All of these occasions present a great opportunity to take some surveys and earn extra cash.  Toluna offers a great mobile app for on-the-go surveying. Simply keep the app open and take a survey for cash when you have some downtime.  Online community The site also has a fun social component where you can connect with other influencers and provide feedback on various questions and topics. Sometimes, you can even earn points for posting in Toluna’s forums!  For example, you can answer questions around specific topics, like or dislike various topics and products in public boards, and start thought-provoking discussions.  Becoming a Toluna member also lets you post unique polls and topics in their member community. It’s a good idea to connect with community members since they are liable to point you to other types of money-making opportunities online. Anyone who spends their free time hanging out in a Toluna community is bound to have money on their mind!  Games  Toluna also has a game center where you can participate in various digital challenges from time to time. However, some games expire, so it’s important to keep your eye out for new ones when they arise, or you could miss out on the fun.  Exciting partners  Another interesting aspect about working with Toluna is the company’s exciting lineup of partnering brands. Partnering companies include Coca-Cola, Amazon, Fiat, L’oreal, Sony Music, Kellogg’s, and Expedia. These are big-name brands, presenting exciting engagement opportunities for true fans and product lovers.  Solicitation-free experience  Often, consumer rewards apps try to push various programs and promotions on users. This isn’t the case with Toluna.  The company says it will never target you with advertising or promotional material. On top of that, the company promises not to use your information when selling products.  How Does Toluna Pay Users? At this point, you’re probably thinking Toluna sounds great. But you might be curious about how Toluna pays its users. Cash payments Toluna gives you the option to cash out via PayPal or direct check. The site issues a certain number of points for every survey that you complete. On Toluna, 3,000 points are worth $1. To cash out, you need to earn at least 60,000 points, or $20.  Surveys typically pay between 1,000 and

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