Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- Consumer Complaints Jump 80 Percent in 2013: CFPB
American Banker 01 Apr 2014
Americans inundated the Consumer Financial Protection Bureau with 160,000 grievances in 2013, almost 80 percent more than in the previous year, the regulator revealed in a report issued on March 31.
- CFPB Issues TILA-RESPA Compliance Guide
Housing Wire 31 Mar 2014
The Consumer Financial Protection Bureau has put together a manual to help lenders comply with the Integrated Disclosure Rule, which consolidates the Truth in Lending Act (TILA) and the Real Estate ...
- Fannie Mae to Fine Mortgage Servicers
Housing Wire 30 Mar 2014
Beginning on May 1, mortgage servicers that submit loan reports that are behind deadline or inaccurate could incur a penalty from Fannie Mae.
- Irvington Moves a Step Closer to Using Eminent Domain to Fight Foreclosures
New Jersey Star-Ledger 30 Mar 2014
Irvington, N.J., council members recently approved a resolution that moves the town a step closer to using eminent domain to seize underwater mortgages.
- Controversial FHA Payoff Rule to End
Los Angeles Times 30 Mar 2014
For years, if an FHA mortgage was paid off before maturity, at closing the borrower would be expected to pay up a full month's interest.
- Mortgage Delinquencies, Foreclosures Continue to Fall: OCC
American Banker 28 Mar 2014
The latest Mortgage Metrics report from the Office of the Comptroller of the Currency shows that 2013 was a more stable year for mortgage portfolios.
- Millennials Still Struggling to Buy Their Own Nests
Investor's Business Daily 28 Mar 2014
While many Millennials are finally in a position to strike out on their own, economists say the impact of this trend on America's residential real estate sector probably will not be felt for at least ...
- Proposed Housing Bill Would Create a Co-Op of Mortgage Lenders
New York Times 27 Mar 2014
Rep. Maxine Waters (D-Calif.) believes the housing finance system should act more like a public utility, a concept backed by consumer advocates like the Center for Responsible Lending.
- Pitfalls of Reverse Mortgages May Pass to Borrower?s Heirs
New York Times DealBook Blog 27 Mar 2014
A growing number of U.S. baby boomers are dealing with their parents' home loans, some of which are threatening their own inheritances.
- HSBC Sued by Illinois? Cook County Over Minority Lending
Bloomberg 26 Mar 2014
Cook County, Ill., is suing HSBC North America Holdings Inc. for allegedly targeting minority borrowers in Chicago with high-cost mortgages.
- Monday Morning Cup of Coffee: Foreclosures Down 550K From Last Year
Housing Wire 24 Mar 2014
In its "First Look" report on February mortgage data, Black Knight Financial Services estimates that the number of loans in foreclosure nationwide has contracted by more than 500,000 from a year ...
- Trade Groups Urge Regulator to Hold GSE Loan Limits Steady
American Banker 24 Mar 2014
Housing and lending interests are petitioning the Federal Housing Finance Agency not to raise the loan limit for Fannie Mae- and Freddie Mac-insured mortgages, as recommended by former acting ...
- Housing Advocates Criticize Johnson-Crapo GSE Bill
American Banker 24 Mar 2014
A number of advocacy groups -- the Center for Responsible Lending, NAACP, the National Council of La Raza, and the National Fair Housing Alliance, among them -- have come together to protest ...
- A Kinder, Gentler Reverse Mortgage
Wall Street Journal 23 Mar 2014
Financial advisers are heartened by the fact that reverse mortgage rules are getting tougher. Such loans typically are made by specialist lenders, with the most common ones backed by the FHA's Home ...
- Americans Refocus on Paying Mortgage First
Associated Press 20 Mar 2014
A new study from credit reporting agency TransUnion finds that more homeowners are focusing on paying their mortgages before credit cards.
- Big Banks Meet Aid Requirement, Monitor Reports
Washington Post 19 Mar 2014
The nation's largest banks have met the financial obligations of the $25 billion national mortgage accord, reports court-appointed settlement monitor Joseph A. Smith Jr.
- More Homeowners Received Loan Modifications in January: Hope Now
American Banker 19 Mar 2014
The mortgage industry group Hope Now reports that loan modifications rose 2 percent in January from December.
- Adjustable-Rate Mortgages Make a Comeback
Wall Street Journal 17 Mar 2014
Adjustable-rate mortgages (ARMs) are riding a new wave of popularity. Some financial groups are even sweetening terms to attract more customers to these loans, whose rates can jump after a few years.
- Mortgage Servicer to Pay $268 Million to Californians
Los Angeles Times 17 Mar 2014
The California Department of Business Oversight has announced that state residents who fell victim to alleged foreclosure abuses are due to receive $268 million in relief from a $2.
- Wells Fargo's Foreclosure Process Draws New Fire
American Banker 17 Mar 2014
Wells Fargo is under the spotlight once again due to allegations that it developed a how-to manual for producing false documents to justify foreclosures.