Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- 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.
- 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 ...
- 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.
- 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.
- Obstacles to Making Affordable Mortgages Mount
American Banker 11 Sep 2014
Residential lenders will continue to have a difficult time providing affordable home loans and broader access to credit, industry experts said at the American Mortgage Conference in Raleigh, N.C.
- 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.