Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- City of Miami Sues JPMorgan, Claims Mortgage Discrimination
Reuters 16 Jun 2014
JPMorgan Chase, the nation's biggest bank, is being sued by the city of Miami for engaging in mortgage discrimination for at least the past 10 years.
- Mass. Homeowners to Get $3 Million in Settlement
Boston Globe 16 Jun 2014
Atlanta-based Ocwen, the country's No. 4 mortgage servicer in terms of size, has reached a new settlement with Massachusetts.
- Limits on Foreclosure Sales Stir a Debate
Wall Street Journal 14 Jun 2014
Nonprofit groups and mortgage industry interests are butting heads over policies that restrict who can participate in short sales and foreclosure sales, and under what circumstances.
- Softened Mortgage Rule Advances
Wall Street Journal 11 Jun 2014
The Securities and Exchange Commission has relaxed its position on a Dodd-Frank mortgage rule, paving the way for the standard to win approval and be finalized in coming months.
- House Passes Tweak to Loosen QM Rule
American Banker 11 Jun 2014
The Mortgage Choice Act won House approval by way of a late June 9 voice vote.
The measure would count neither insurance and taxes held in escrow nor fees paid to affiliated companies as ...
- HMDA Data Offers Clues on Discrimination Against Gays
American Banker 10 Jun 2014
Home Mortgage Disclosure Act data show that denials were down in all categories for male and female same-sex borrowers in 2012, but the rate was still higher for same-sex couples than for mixed-sex ...
- Court Rules Against Wells Fargo on Mortgage Allegations
Associated Press 10 Jun 2014
A U.S. appellate court has ruled that Wells Fargo must face new allegations of mortgage wrongdoing despite an existing settlement under which it has already paid out $5 billion.
- Economic Worries Still Dragging Down Housing Market, Fannie Mae Says
Los Angeles Times 09 Jun 2014
A new survey from Fannie Mae indicates that 57 percent of respondents believe the economy is moving in the wrong direction.
- CFPB Going Digital
Housing Wire 09 Jun 2014
With a surge in new regulation, the Consumer Financial Protection Bureau is executing extra effort to ensure everything is understandable to borrowers, lenders, and servicers alike.
- Congressional Inaction on Debt Forgiveness Bill Affects Short Sales
Los Angeles Times 09 Jun 2014
The expiration of the Mortgage Forgiveness Debt Relief Act on Dec. 31 is affecting the broader housing market.
- Cracking Down on Illegal Mortgage Referrals
New York Times 08 Jun 2014
Since assuming enforcement of the Real Estate Settlement and Procedures Act (RESPA) from HUD three years ago, the Consumer Financial Protection Bureau has shown the mortgage, title, and realty ...
- Summers: Why Obama Didn't Push Broad Mortgage-Debt Reduction
Wall Street Journal 06 Jun 2014
Larry Summers, head of the White House's National Economic Council in the early years of the Obama administration, is defending President Obama's mortgage-relief policy.
- Fannie Mae Widens Unemployment Forbearance Powers for Mortgage Servicers
Housing Wire 04 Jun 2014
Servicers using Fannie Mae's Unemployment Forbearance program no longer need the mortgage financier's approval to grant relief to recently unemployed borrowers who are imminent danger of default.
- Massachusetts Sues Fannie and Freddie Over Foreclosure Law
New York Times 03 Jun 2014
Massachusetts Attorney General Martha Coakley has sued Fannie Mae and Freddie Mac for failing to comply with the state's anti-foreclosure law, enacted in 2012.
- Delinquent Mortgages Up
Investor's Business Daily 03 Jun 2014
Black Knight reports that the share of home loans that are delinquent increased a bit to 5.62 percent in April from 5.52 percent in March.
- Why Homeowners Who Got Mortgage Help May Still End Up Losing Their Homes
Washington Post 02 Jun 2014
Based on an analysis of mortgages modified between 2008 and 2013 to help distressed homeowners dodge foreclosure, many of the loans may be back in danger of default as their temporary interest rate ...
- Owners Tapping Equity in Homes
Wall Street Journal 30 May 2014
Home equity lines of credit (HELOCs) and home equity loans rose 8 percent in the first quarter compared to a year ago, according to industry newsletter Mortgage Finance.
- Santander to Face Suit Claiming Bias in Mortgages
New York Times 29 May 2014
The city of Providence, R.I., plans to sue Santander Bank for deliberately shutting off home lending in mostly minority neighborhoods.
- U.S. Probes Possible Overcharging by Banks on Foreclosure Fees
Reuters 29 May 2014
U.S. Attorney Preet Bharara's office in Manhattan is investigating PNC Financial Services, PHH Corp., MetLife, Santander Holdings, and Citizens Financial over whether they overcharged the government ...
- Wells Fargo Can't Shake L.A. Lawsuit Over Predatory Loans
Bloomberg Businessweek 28 May 2014
A Los Angeles judge has rejected Wells Fargo's request to dismiss litigation lodged against it by the city of Los Angeles over widespread foreclosures during the housing slump.