Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- Add-on Mortgage Fees Become an Issue
Miami Herald (FL) 04 Apr 2014
Fannie Mae and Freddie Mac are still imposing punitive, crisis-era fees that can inflate borrowing costs on a home by thousands of dollars, even as the firms enjoy record profits, lower ...
- Realtors to FHA: Your Mortgage Insurance Rates Drive Buyers Away
Housing Wire 02 Apr 2014
National Association of Realtors President Steve Brown has reached out to the FHA, hoping to persuade the agency to lower its annual mortgage insurance premiums.
- Senate Moving to Extend Mortgage Debt Forgiveness Act
American Banker 02 Apr 2014
Senate Finance Committee Chairman Ron Wyden (D-Ore.) on April 1 introduced a tax bill that would renew the Mortgage Debt Forgiveness Relief Act for two years. The provision, which expired Jan.
- GSEs Execute Three Million-Plus Foreclosure Prevention Actions Since 2008
National Mortgage Professional Magazine 02 Apr 2014
The Federal Housing Finance Agency reports that Fannie Mae and Freddie Mac carried out almost 448,000 foreclosure prevention actions in 2013, including 99,700 in the last three months of the year.
- Predators Target Homes of Older Americans
AARP 01 Apr 2014
A growing number of home foreclosures are tied to delinquent taxes instead of delinquent mortgage payments, reports the National Consumer Law Center.
- Cook County Sues Bank of America on Predatory Lending Charges
Chicago Real Estate Daily 01 Apr 2014
After filing suit against HSBC units on March 24 for alleged predatory lending practices, Cook County, Ill., has now taken similar action against Bank of America.
- 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 ...
- 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.
- 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.
- 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.
- 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 ...
- 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 ...
- 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 ...
- 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 ...