Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- Counterpoint: Race Does Matter in Mortgage Lending
Housingwire 15 Sep 2014
In response to a Housing Wire column that alleged that mortgage lending was color-blind, CRL’s Nikitra Bailey, executive vice-president for external affairs, penned a rebuttal. Her column cites research that proves the journey towards far fair housing still has a long way to go.
- Credit Access Is a Top Worry for Housing-Industry Executives Looking at 2015
MarketWatch 15 Sep 2014
With 2015 just over the horizon, housing executives are concerned about the impact of tight underwriting on next year's residential property market.
- Mortgage Lead Generator Charged With Deceptive Advertising
Reverse Mortgage Daily 15 Sep 2014
The Federal Trade Commission (FTC) has charged Intermundo Media LLC, a Colorado-based mortgage lead generator, with allegedly deceiving consumers through false advertising claiming it could refinance ...
- Underwater Borrowers May Need to Wait Months More for Relief
Washington Post 13 Sep 2014
With Congress back in session, the issue of tax relief for distressed homeowners who accept mortgage assistance is back on the table.
- HUD Fines FirstBank Mortgage Partners for Maternity-Related Discrimination
Housing Wire 12 Sep 2014
FirstBank Mortgage Partners will pay a $35,000 fine to settle allegations that it violated the Fair Housing Act by rejecting a couple for a home loan because of maternity leave.
- Home Buyers' Down Payment Rate Hits 17.28 Percent; Less in West Virginia, More in Hawaii
Tacoma News Tribune (WA) 11 Sep 2014
Online mortgage firm Lending Tree reports that the lowest down payments in the country last month were in West Virginia, where they averaged 14.42 percent on a 30-year fixed loan.
- CFPB Chief: Prepare for New Mortgage Regs
The Hill 10 Sep 2014
Speaking at a credit union conference this week, Consumer Financial Protection Bureau head Richard Cordray offered a snapshot of the agency's next round of mortgage regulation.
- Renters Fear They Lack the Credit, Not Just the Cash, To Buy a Home
Washington Post 08 Sep 2014
After analyzing the results of a consumer sentiment poll, researchers at the Federal Reserve Bank of New York found that many renters who want to buy a house may not even try out of fear that they ...
- New York Set to Accuse Evans Bank of Redlining
New York Times 02 Sep 2014
New York Attorney General Eric Schneiderman is leading an investigation into whether banks are “redlining,” the practice of deliberately cutting off mortgage lending to particular ...
- 2.5 Million Borrowers Face Imminent Payment Shock
Housing Wire 02 Sep 2014
By Black Knight Financial's estimate, 2.5 million Americans will see an average $250 more tacked onto their monthly mortgage payment as interest rates on home equity lines of credit (HELOCs) reset ...
- Home Equity Lines of Credit Surge as Banks Approve Loans to More and More Owners
Washington Post 30 Aug 2014
Homeowners nationwide are accessing home equity credit lines at an increasingly faster clip.
New data from Experian and researchers at the Oliver Wyman consulting organization shows that ...
- U.S. Housing Regulator Seeks More Support for Poor Borrowers
Reuters 29 Aug 2014
The Federal Housing Finance Agency (FHFA), which governs Fannie Mae and Freddie Mac, is stepping up the support offered by the firms to low-income borrowers.
- FHA Tweaks Interest Rate Rules to Align With QM
American Banker 28 Aug 2014
Home sellers will be able to close at any time of the month without paying extra interest, under revisions being made to FHA rules.
- Here Are the Most Active States for Mortgage Fraud Schemes
Housing Wire 27 Aug 2014
Fraud investigators at Freddie Mac have pinpointed California, Nevada, Arizona, Florida, and Michigan as the nation's hot spots for mortgage fraud.
- New FICO Model May Not Help Home Buyers Anytime Soon
Washington Post 23 Aug 2014
Despite the tremendous media buzz surrounding the rollout of FICO's latest credit score -- which lessens the impact of medical debt and treats borrowers with limited histories more fairly -- the new ...
- CFPB Picks 12 Companies for Mortgage Closing Study
American Banker 22 Aug 2014
The Consumer Financial Protection Bureau (CFPB) has selected seven mortgage companies and five vendors to participate in a pilot program that will gauge whether electronic closings benefit consumers, ...
- Some Homeowners Could Get Hit With a Whopping Tax Bill If They Accept Help Through Bank of America's Settlement
Washington Post 21 Aug 2014
Bank of America has pledged $7 billion in mortgage relief for distressed homeowners as part of a massive settlement with the government, but U.S. Attorney General Eric Holder Jr.
- Late-Payment Rate on U.S. Mortgages Declines in 2Q
Associated Press 20 Aug 2014
TransUnion says Americans have become more diligent about paying home loans on time, with the mortgage delinquency rate dropping in the second quarter to the lowest level in six years.
- Borrowers Could Suffer in Servicing Transfers, CFPB Warns
American Banker 20 Aug 2014
A bulletin from the Consumer Financial Protection Bureau (CFPB) is warning mortgage servicers that they could face repercussions if consumers are harmed when servicing rights change hands.
- NJ Judge: Freedom Mortgage Deal Amounts to Fraud
Asbury Park Press (New Jersey) 20 Aug 2014
A New Jersey Superior Court judge has ruled that Freedom Mortgage Corp. violated the state's Consumer Fraud Act in the handling of a refinance for an Englewood homeowner in 2009.