More homeowners regained equity in their home in the first quarter, reflecting improving home prices, fewer distressed borrowers, and increased principal repayment.
CoreLogic's first quarter Equity Report showed that 268 thousand homeowners regained equity in the first quarter of 2016, bringing the total number of mortgaged residential properties with equity to approximately 46 point 7 million, or 92 percent of all mortgaged properties.
The Subcommittee on Economic Growth, Tax, and Capital Access of the Committee on Small Business met Thursday morning to address concerns surrounding the regulatory effect on small banks. The Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 was enacted to establish a more regulated and trusted banking system, but its effects have trickled down to small banks. The memo noted that over 80 percent of small banks have reported seeing their annual compliance costs increase at least 5 percent