Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- Mortgage Standards Are Easing, Fed Finds
Wall Street Journal 05 Aug 2014
Nearly one in four U.S. banks made it easier for borrowers with healthy credit to get mortgages during the second quarter, according to the Federal Reserve's quarterly survey of banks' senior loan ...
- How Student Loans Are Shaping Mortgage Approvals
Wall Street Journal 05 Aug 2014
Real-estate interests fret that today's astronomical amount of student debt will keep Millennials from buying homes, but data show that mortgage applicants with student loans are not being rejected ...
- Mortgage Closing Costs on the Rise, National Survey Says
Los Angeles Times 04 Aug 2014
Based on survey responses from lenders in all 50 states and the District of Columbia, Bankrate.com reports that the expense of closing on a home loan has climbed from last year.
- Mortgage Lenders May Be Easing Credit Score Requirements Slightly
Los Angeles Times 03 Aug 2014
Credit score requirements for FHA mortgages have declined steadily this year, but Ellie Mae reports that average FICO scores have not budged in months for borrowers seeking financing in the broader ...
- Homeowners Increasingly Satisfied With Mortgage Servicers, Study Says
Chicago Tribune 31 Jul 2014
Mortgage servicers are redeeming themselves in the eyes of many homeowners -- especially those in danger of delinquency -- reports J.D. Power.
- Backlog Mounts for Homeowner Program
Wall Street Journal 30 Jul 2014
The servicers processing applications for the Home Affordable Modification Program (HAMP) are having trouble keeping up with requests for loan workouts.
- A Boston Program Aiding Foreclosed Homeowners Could Be a National Model for Fighting Blight
Washington Post 28 Jul 2014
Housing experts are taking interest in a foreclosure-prevention initiative in Boston that they believe could serve as a national model for curtailing neighborhood blight.
- CFPB Proposes Changes to HMDA
Reverse Mortgage Daily 24 Jul 2014
Federal regulators want to tweak the Home Mortgage Disclosure Act (HMDA), confirmed Richard Cordray, who runs the Consumer Financial Protection Bureau.
- Housing Groups Criticize Single-Family Rental Investment Firms
American Banker 22 Jul 2014
Single-family rental investment firms need government oversight, finds a report by a national housing group called Right to the City Alliance.
- Foreclosures Fall in U.S. to Pre-Bust Levels
Bloomberg 17 Jul 2014
The latest RealtyTrac research shows that U.S. foreclosure filings declined last month to levels not seen since before the housing bubble burst eight years ago.
- Citigroup to Pay $7 Billion to Resolve Mortgage Securities Investigation
Washington Post 15 Jul 2014
Citigroup has agreed to pay $7 billion to the Department of Justice (DOJ) to resolve probes into its sales of troubled mortgage securities -- pools of home loans that the bank issued, structured, and ...
- CFPB Clarifies How Same-Sex Ruling Affects Lending Rules
American Banker 14 Jul 2014
The Consumer Financial Protection Bureau has issued new policy in response to the Supreme Court's decision last year to ensure rights for same-sex spouses.
- Dive in Minority Lending Puts Pressure on Fannie-Freddie
Bloomberg 14 Jul 2014
Blacks and Latinos represent a fast-growing segment of the U.S. population; yet, their number among conventional mortgage borrowers is declining.
- HOPE NOW Assisted 37,000 Struggling Borrowers in May
Housing Wire 14 Jul 2014
HOPE NOW reports that about 37,000 homeowners were granted permanent mortgage workouts in May, with roughly 25,000 receiving assistance through proprietary initiatives and just shy of 12,000 ...
- More Homeowners Are Tapping Their Home Equity
Wall Street Journal 13 Jul 2014
Home equity lending has returned to levels not seen since 2008, Equifax reports.
Attracted by the lower interest rates that lenders are dangling in front of them, borrowers are using ...
- CFPB Targets Mini-Correspondent Divisions
Housing Wire 11 Jul 2014
The Consumer Financial Protection Bureau is focusing on a possible loophole that its qualified mortgage rules have possibly created for lenders.
- Homeowners Get $3.1 Billion in Pact With Mortgage Banks
New York Times 08 Jul 2014
U.S. homeowners have received a collective $3.1 billion to compensate them for improper foreclosures, according to a new Federal Reserve report. Of 4.
- 7 Banks Sue Cities Over Foreclosure Rules
Associated Press 02 Jul 2014
Ordinances designed to curtail foreclosures in the Massachusetts cities of Lynn and Worcester have come under attack by the industry.
- HSBC Settles Fraud Charges Over Foreclosure Fees Paid by the U.S. Government
New York Times 02 Jul 2014
HSBC will pay $10 million to settle a civil fraud case involving foreclosure fees paid by the U.S. government.
- U.S. Regulators Warn Banks on Home Equity Loan Defaults
Reuters 01 Jul 2014
Banks should work with borrowers to avoid massive defaults on home equity lines of credit taken out during the housing bubble, according to U.S. regulators.