Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- 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.
- 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 ...
- 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 ...
- 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.
- 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.
- 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.
- 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.
- 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.
- DOJ Inspector General Says Department Is Not as Tough as It Claims on Mortgage Fraud
Washington Post 14 Mar 2014
Despite claims to the contrary, a new audit reveals that mortgage fraud has not been a big priority at the FBI.
- Are Post-Crisis Credit Requirements Holding Back 1.2M Mortgages?
Housing Wire 14 Mar 2014
More than 1.2 million mortgages could be made if credit conditions and requirements were at traditional, pre-crisis levels, according to a new paper from the Urban Institute.
- Church, Housing Groups Sue Gov. Brown Over Mortgage Settlement Money
Los Angeles Times 14 Mar 2014
Several religious groups and homeownership advocates are suing California Gov. Jerry Brown, demanding that he return about $350 million from California's share of the 2012 national mortgage ...
- CFPB Takes Aim at 'Zombie' Foreclosures
American Banker 13 Mar 2014
The Consumer Financial Protection Bureau is looking into how bank "walkaways" from distressed homes are hurting borrowers and how to rectify the situation.
- With Clock Ticking on Mortgage Relief, Homeowners Wonder What's Ahead
Washington Post 11 Mar 2014
Five years after the federal government rescued more than 1 million distressed homeowners, many who received aid could still wind up in foreclosure.
- Speeding Up Vacant-Home Foreclosures Could Save Big: Fed Paper
American Banker 10 Mar 2014
A new study by the Federal Reserve Bank of Cleveland concludes that fast-tracking foreclosures in states that handle the process through the courts could lead to significant savings for all parties.
- Lenders Use Budget Data to Lobby FHA for Lower Premiums
American Banker 07 Mar 2014
President Obama's budget reveals that the FHA has the flexibility to lower premiums, according to the Community Home Lenders Association.
- New York Demands Data From Mortgage Firm Nationstar
New York Times 06 Mar 2014
New York State's top banking regulator, Benjamin M. Lawsky, is raising questions about the capabilities of Nationstar Mortgage Holdings.