Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- Americans Face Post-Foreclosure Hell as Wages Garnished, Assets Seized
Reuters 14 Oct 2014
Thousands of Americans who have been rebuilding their finances since losing their homes in the housing bust are now being pursued by debt collectors for money they still owe and are being subjected ...
- AG Schmidt: Florida Company to Pay Fines and Penalties for Violating Kansas Consumer Protection Laws
Kansas City Kansan 14 Oct 2014
Kansas Attorney General Derek Schmidt has announced a consent judgment against Florida-based Cypress Law Group Inc.
- You Don't Need to be Perfect to Get a U.S. Loan Anymore
Bloomberg 13 Oct 2014
Since the 2008 housing crash, most lenders have refused to give loans to borrowers with minor imperfections on their applications, but that is starting to change.
- CFPB Proposes TILA-RESPA Changes
Credit Union Times 10 Oct 2014
The Consumer Financial Protection Bureau (CFPB) has proposed two changes to the TILA-RESPA final rule.
- Home Equity Lending Surges in U.S. to Five-Year High
Bloomberg BusinessWeek 09 Oct 2014
Lenders increased their origination of home equity lines of credit (Helocs) by 21 percent in the 12 months ending in June, data firm RealtyTrac Inc. reports.
- The States Where Homeowners Are Still Struggling
Fox Business 08 Oct 2014
Despite historically low rates, there have been fewer mortgages opened in some parts of the nation. At the same time, millions of American consumers are still struggling to afford the monthly ...
- New Mortgage Lender Demands Less Documentation
Wall Street Journal 07 Oct 2014
Social Finance, or SoFi, has offered mortgages in California since August and expanded its business to New Jersey, North Carolina, Pennsylvania, Texas, Washington, and the District of Columbia on Oct.
- GAO Calls on Treasury to Better Track Homeowner Relief Data
The Hill 06 Oct 2014
In a new report, the Government Accountability Office concludes that Treasury officials could do more to assess why some distressed homeowners are redefaulting after receiving federal mortgage relief.
- Racial Disparity in Mortgage Refinancing Data
New York Times 05 Oct 2014
Last year saw a 25 percent slump in mortgage refinancing from 2012, due almost entirely to less participation among white and Asian borrowers, according to a data analysis by the Urban ...
- New York AG Sues Law Firms for Mortgage Loan Relief Scam
DSNews 03 Oct 2014
New York Attorney General Eric Schneiderman has sued two law firms and their principal attorney, Gennady Litvin, for allegedly participating in a fraudulent mortgage rescue scam.
- High Court to Take Housing Bias Case
Associated Press 02 Oct 2014
The nation's highest court is again preparing to take on the controversial principle of "disparate impact" as it applies to housing bias.
- CoreLogic: U.S. Foreclosure Rate Crept Up in August
MortgageOrb.com 02 Oct 2014
CoreLogic estimates that 45,000 foreclosures were processed in August, about 1.1 percent more than in July.
The tally is down 22.
- HUD Watchdog Accuses EverBank of Violating FHA Short Sale Policies
Housing Wire 01 Oct 2014
A HUD watchdog investigating short sales by EverBank has concluded that the bank violated FHA policies.
- Hispanic Borrowers Diminishing in California Housing
Bloomberg BusinessWeek 30 Sep 2014
In California, Hispanics -- more than any other group -- have been unable to tap into the housing recovery and rebuild wealth through homeownership, mainly due to tighter mortgage underwriting and ...
- Minority Borrowers Feel Mortgage Pinch
Wall Street Journal 23 Sep 2014
While the housing market continues its unsteady rebound, a new Federal Reserve study shows that black and Hispanic borrowers are receiving a smaller slice of the mortgage pie.
- Should Mortgage Lending Standards Ease?
Wall Street Journal 22 Sep 2014
One reason home construction is barely rising is today's tough lending standards. Whether or not to relax underwriting, however, is no simple matter.
- CFPB Memo Extends Mortgage Protections to Same-Sex Marriages
Housing Wire 19 Sep 2014
The Consumer Financial Protection Bureau has quietly issued guidance reminding mortgage professionals that it expects same-sex households to receive fair treatment when applying for home loans and ...
- Congress Considers Bill to Aid Homeowners Facing Foreclosures
Central Valley Business Times (CA) 17 Sep 2014
With bipartisan co-sponsorship and support from the real estate sector, U.S. Rep. Jerry McNerney (D-Calif.) has introduced a proposal that would accelerate short sales.
- Banks Discount Mortgages
Wall Street Journal 17 Sep 2014
In a move to help low-income and subprime borrowers, two of the country's biggest banks have agreed to offer below-market interest rates on certain home loans.
- 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.