Morning Radar: Dodd-Frank opponents still hope to trim back law
HousingWire's Morning Radar takes a look at what's trending across the Internet.
Dodd-Frank's future looks more solid
Dodd-Frank Act opponents had hoped a Mitt Romney win would result in a fatal wound to the massive financial reform law. Still, they aren't giving up hope of paring back the act's impact despite President Obama's re-election, according to a story in The Wall Street Journal.
Others are less optimistic that even small changes can make it through Congress, the article said.
Recession fear rises with fiscal cliff
A new report from the Congressional Budget Office suggests the fiscal cliff could increase the jobless rate to 9.1% by the end of 2013, pushing the U.S. economy back into recession.
If Congress does not act to avert tax increases and spending cuts established by an earlier deficit agreement, the CBO said economic output would fall by 0.5 percentage points in 2013.
According to the CBO analysis, the federal budget deficit would be $503 billion higher if Congress does reach a deal to avoid the fiscal cliff later this year versus a scenario where a deal is not reached.
Read The Wall Street Journal's take on the issue. The New York Times, meanwhile, said some lawmakers hope to take advantage of a more conciliatory atmosphere post-election to strike an agreement to avert the fiscal cliff.
Hundreds gather at MBAâ€™s first conference for independent mortgage bankers
Hundreds gathered at The Fairmont Dallas Hotel for MBAâ€™s Independent Mortgage Bankers Conference Wednesday through Friday. The conference allows independent mortgage bankers to network with peers and obtain valuable insight from industry leaders.
Session topics include the 2013 mortgage market outlook led by MBA CEO David Stevens, warehouse lending, how Washington affects the mortgage market and more. HousingWire will be attending and reporting the conference. Check the website Friday for coverage and session updates.