A Dodd-Frank rewrite is headed to the U.S. Senate floor for a vote, according to Bloomberg. The Economic Growth, Regulatory Relief and Consumer Protection Act would roll back or eliminate parts of the Dodd-Frank Act, including relieving smaller lenders from some of the more prohibitive and expensive post-crisis oversight.
In other real estate news:
- Redfin posted its first Housing Demand Index for 2018, which reveals the year is off to a strong start. The index for January was 130.5, up 0.5 percent month over month, and the number of buyers making offers increased 1.2 percent from December.
- Simon Chen will be the new president and CEO of ERA Franchise Systems, LLC. Since May, Chen has served as the chief operating officer at ERA Real Estate and now will focus on agent recruitment, productivity and market share.
- Although January saw new home sales fall from December, Freddie Mac is not changing its housing forecast for 2018. According to HousingWire, Freddie Mac estimates that new home sales will still push above last year and that tax reform will have limited consequences on the housing market. Instead, rising mortgage rates will have the strongest effect since they impact all buyers.
- Century 21 announced a rebranding campaign that includes a new logo and a refreshed color palette. According to the announcement, “the new logo enables the brand to project a modern view that makes it relevant to consumers buying other properties, such as apartments or commercial spaces.”