Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- 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.
- 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.
- 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 ...
- 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.
- 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.
- Consumers Are Back to Paying Mortgages Ahead of Credit Cards
Wall Street Journal 27 May 2014
Research from TransUnion shows that at the end of 2013, after about two years of home appreciation, borrowers resumed their normal pattern of paying the mortgage before credit cards.
- Mortgage Probes Shift to Smaller Banks
Wall Street Journal 27 May 2014
After reaching billion-dollar settlements with large banks such as JPMorgan Chase and Bank of America, U.S. housing officials are focusing on smaller lenders and servicers.
- Dispute Over Banking Group's Analysis of Mortgage Denials to Blacks
New York Times 24 May 2014
The Mortgage Bankers Association (MBA) recently reported that 56 percent of blacks who applied for a common type of mortgage were denied.
- 4 Housing Bills That Could Make Mortgage Lending Much Easier
Housing Wire 22 May 2014
Action on Capitol Hill May 22 saw the passage of three pieces of legislation that supporters in the finance industry say will facilitate mortgage lending.
- Hopes Fade for Bill to End Fannie, Freddie
Washington Post 16 May 2014
The Senate Banking Committee on May 15 passed a bill that would dissolve Fannie Mae and Freddie Mac.
However, the measure did not attract a large enough majority and is unlikely to reach ...
- CFPB Warns U.S. Banks: Expand 'Fair Lending' or Else
Investor's Business Daily 12 May 2014
In its new "Fair Lending Report," the Consumer Financial Protection Bureau reminds U.S. banks that they could face discrimination charges if they fail to write enough prime loans to low-income ...
- New Report Shows Hardest Hit Communities Still Reeling From Housing Crisis
RISMedia 08 May 2014
Despite a recent trend toward home price appreciation, a new report reveals that nearly 10 million U.S. families are still "underwater" on their mortgages.
- More Seniors Going Into Retirement Shouldering Mortgages, Feds Say
Dallas Morning News 07 May 2014
The percentage of homeowners aged 65 or older who are carrying mortgage debt spiked from 22 percent in 2001 to 30 percent in 2011, according to a new report from the U.S.
- House Committee Approves Mortgage Choice Act
Housing Wire 07 May 2014
The House Financial Services Committee has given the nod to the proposed Mortgage Choice Act, which can now move to the floor of the U.S. House of Representatives for consideration.