Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- New Home Loan Balances Overtake Foreclosures: Equifax
American Banker 28 Feb 2014
The volume of new mortgage debt is outpacing that of loans in foreclosure for the first time in more than three years, Equifax reports.
First mortgage balances grew to $7.
- The Homebuyer's Champion: A Nonprofit Lender Revives the Hopes of Subprime Borrowers
New York Times 26 Feb 2014
The Neighborhood Assistance Corporation of America (NACA) has $10 billion in funding from Bank of America to make loans on its own terms over the next decade.
- Complaint Alleges Deutsche Bank Discrimination
Memphis Daily News 25 Feb 2014
According to a complaint filed on Feb. 25 with the federal government, Deutsche Bank allegedly discriminated against minority neighborhoods in the Memphis area in the way that it treated bank-owned ...
- Mortgage-Assistance Scam Lands Florida Men Seven Years in Prison
American Banker 24 Feb 2014
Christopher Godfrey and Dennis Fischer, both of Florida, have been sentenced to seven years in federal prison for cheating troubled borrowers out of more than $4 million.
- 1st Alliance Lending Turns Itself In to CFPB
Housing Wire 24 Feb 2014
The Consumer Financial Protection Bureau (CFPB) has ordered 1st Alliance Lending to pay a civil penalty of $83,000 for illegally splitting real estate settlement fees.
- Mortgage Woes Approach Prerecession Levels
Wall Street Journal 21 Feb 2014
The number of troubled mortgages has declined to a level last seen since the early months of the recession. The delinquency rate fell to 6.
- New U.S. Housing Regulator Hears Concerns on Tight Credit
Reuters 20 Feb 2014
Federal Housing Finance Agency (FHFA) director Mel Watt has made a point of meeting with housing and real estate trade groups, demonstrating that he is taking their concerns regarding credit ...
- Mortgage Group Calls for Reducing FHA Annual Premiums
American Banker 19 Feb 2014
The Community Home Lenders Association wants the Obama administration to reduce the annual premium on FHA-backed home purchase loans.
- Official 'Deeply Disappointed' by Mortgage Servicing Problems
Wall Street Journal 19 Feb 2014
Consumer Financial Protection Bureau deputy director Steve Antonakes on Wednesday lambasted mortgage servicers for what he said is their continued poor handling of consumers.
- Loan Complaints by Homeowners Rise Once More
New York Times 19 Feb 2014
As struggling homeowners try to dodge foreclosure, more are running into problems with servicers -- the firms that collect mortgage payments.
- Lawmaker Urges U.S. Regulators to Scrutinize Mortgage Servicers
New York Times 19 Feb 2014
Rep. Maxine Waters (D-Calif.) this week dispatched a letter urging regulators to closely evaluate sales of mortgage servicing rights from banks to non-bank specialty servicers.
- Cannella Bill Would Help Struggling Homeowners
Salinas Californian (CA) 18 Feb 2014
In California, Sen. Anthony Cannella (R-Ceres) on Feb. 18 rolled out legislation designed to protect distressed homeowners from inflated tax bills as a result of mortgage workouts that erased some of ...
- Geographic Gap Marks Mortgage Interest Deduction Benefit
Bloomberg 18 Feb 2014
A report by the Congressional Research Service indicates that the mortgage interest deduction is unevenly distributed across America, with a nearly $250 difference between states with the highest and ...
- Mortgage Help for Members of the Military
Fox Business 17 Feb 2014
Job stress, time constraints, and general instability have all made the housing crisis more severe for members of the U.S. military, the Consumer Financial Protection Bureau (CFPB) reports.
- Dan Walters: The Dark Side to California Mortgage Relief
Fresno Bee (CA) 17 Feb 2014
California Attorney General Kamala Harris in 2012 reached a landmark deal with the three largest U.S. housing lenders, under which the lenders agreed to provide $12 billion in relief to homeowners in ...
- New Mexico Senate Democrats Aim to Prevent Improper Foreclosures
KRWG News (NM) 17 Feb 2014
State senators in New Mexico want to assemble a task force that would be charged with developing recommendations to the legislature on how to keep homeowners in the state from being wrongfully ...
- Wells Fargo Plans to Ease Some Rules on Mortgages
Wall Street Journal 16 Feb 2014
Wells Fargo, the biggest U.S. mortgage lender, has announced that it will lower its minimum credit score for FHA eligibility on home loans.
- FHFA Needs to Exercise More Oversight of Mortgage Servicers: Watchdog
American Banker 14 Feb 2014
The inspector general of the Federal Housing Finance Agency (FHFA) says the agency needs more checks in place to ensure that servicers of Fannie Mae and Freddie Mac mortgages are helping troubled ...
- Nevada A.G. Agrees to Deal in Lender Fraud Civil Lawsuit
Reno Gazette-Journal 14 Feb 2014
The company formerly known as Lender Processing Services (LPS) has settled a "robosigning" lawsuit lodged against it in Nevada -- the only state not to accept a nationwide payout from the firm -- ...
- HOPE NOW: Mortgage Servicers Completed 768,000 Loan Mods in 2013
Mortgage Orb 13 Feb 2014
HOPE NOW -- a coalition of loan servicers, mortgage insurers, investors, and nonprofit counselors -- reports that U.S. homeowners benefited from 768,000 modifications last year.