Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- Five Star Bank, State Settle Over Biased Mortgage Practices
Daily News (White Plains, NY) 20 Jan 2015
The New York attorney general's office has reached what is being hailed as a "landmark" settlement to halt alleged mortgage bias at a Warsaw-based bank.
- CFPB Tweaks Forward Mortgage Disclosure Rules
Reverse Mortgage Daily 20 Jan 2015
The Consumer Financial Protection Bureau's (CFPB's) new forward mortgage disclosure rules have been finalized and will go into effect on Aug. 1.
- Looser Credit for Home Buyers
New York Times 18 Jan 2015
An analysis by the Urban Institute's Housing Finance Policy Center indicates that FHA-backed loans will be more attractive to the most creditworthy borrowers when insurance premiums on the loans drop ...
- Homeowners Billed for Houses Lost in Foreclosure
Boston Globe 18 Jan 2015
Thousands of people nationwide are finding themselves on the hook for "mortgage deficiencies," or tens of thousands to hundreds of thousands of dollars related to the homes they lost in ...
- New Study Reports Worsening Health Conditions Increase Risk of Mortgage Default and Foreclosure
Medicalxpress 14 Jan 2015
The financial burden of homeownership may contribute to health problems in Americans, but new research also suggests that an inverse relationship may be at work: failing health could be a predictor ...
- CoreLogic: Foreclosure Inventory at Lowest Level Since March 2008
Mortgage Orb 14 Jan 2015
The number of completed foreclosures fell to about 41,000 in November -- a 12.6 percent drop from about 47,000 in October -- CoreLogic reports.
- New Program May Offer Hope to Low- and Moderate-Income Homebuyers
Washington Post 14 Jan 2015
The new Wealth Building Home Loan -- funded by Bank of America and Citi Mortgage and administered by the nonprofit Neighborhood Assistance Corp.
- Nearly Half of Home Buyers Don't Shop Around for Mortgages
Wall Street Journal 13 Jan 2015
Nearly half of all home buyers in 2013, and 44.5 percent of first-time home buyers, seriously considered only one mortgage lender, according to a new survey published by the Consumer Financial ...
- Step forward for the FHA
The Hill 09 Jan 2015
Yesterday, President Obama took another important step to responsibly boost the housing market in a recovering economy.
- Disparate Impact Defended
Credit Union Times 09 Jan 2015
After cases in 2011 and 2013 were settled before reaching the nation's high court, the issue of "disparate impact" is once again before the Supreme Court justices.
- Interest-Only Loans Set the Bar High
Wall Street Journal 09 Jan 2015
Interest-only loans have made a comeback; but these days, they are mainly available only to affluent, jumbo borrowers and are unlikely to create the kind of problems that predicated the subprime ...
- FHA to Lower Fees in Bid to Aid Housing Market
Washington Post 08 Jan 2015
The FHA will reduce annual premiums on its loans to 0.85 percent of mortgage value toward the end of January, the Obama administration confirms.
- Home-Equity Credit: It's Back, But Is That a Good Thing?
Denver Post 15 Dec 2014
The economy has stabilized to the point where homeowners are once again turning their attention to home-equity lines of credit (HELOCs) for cash flow or home improvement, and lenders appear to be ...
- Homeowners Offered Loan Reduction
Associated Press 05 Dec 2014
HUD plans to offer a $5,000 principal reduction next year to borrowers whose mortgage rates were temporarily lowered via the Home Affordable Modification Program (HAMP) during the recession.
- $89 Billion: The Principal Reduction Price Tag to Save American Homeowners
Housing Wire 04 Dec 2014
The idea of principal write-downs for distressed, underwater homeowners continues to be a topic of heated debate.
- Self-Employed Find It's Not Easy to Get a Mortgage
Los Angeles Times 04 Dec 2014
As more Americans go into business for themselves, Zillow warns that the inability of many of them to qualify for a mortgage is taking a toll on housing recovery.
- Mortgage Insurance Costs Have Doubled Since 2008
St. Louis Business Journal 03 Dec 2014
FHA mortgage insurance premiums for a typical U.S. home priced at $212,000 are nearly twice as high now as they were in 2008, a WalletHub analysis concludes.
- Millions of Americans Are Spending Too Much on Housing
CNNMoney.com 03 Dec 2014
Almost 40 million people in this country are overspending on shelter each month, reports the Demand Institute.
- Mortgage Servicers Face Further Scrutiny From Fannie, Freddie: Report
American Banker 03 Dec 2014
Nonbank mortgage servicers, already being watched closely by regulators for flubbing home foreclosures, now are receiving extra attention from Fannie Mae and Freddie Mac as well.
- Groups Call on FHA to Cut Back on High Mortgage Fees
Washington Post 02 Dec 2014
Consumer advocates like the Center for American Progress and Enterprise Community Partners want the FHA to consider cutting fees for mortgages that it guarantees.