Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- 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.
- 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.
- Foreclosures Slide to Lowest Level Since 2006, Only 10 Percent of Borrowers Underwater
US Finance Post 05 May 2014
Soft housing demand and tepid recovery remain concerns, but the industry outlook is improving a little.
- CFPB's 'Minor' Changes to Mortgage Rules May Have Major Impact
American Banker 01 May 2014
The Consumer Financial Protection Bureau (CFPB) confirmed that it is tweaking its home lending rules so that more loans meet the definition of "qualified mortgage.
- Report Blasts Foreclosure Practices
Boston Globe 01 May 2014
The federal Office of the Comptroller of the Currency has released its analysis of the Independent Foreclosure Review, a short-lived process that sought to quantify wrongful foreclosures at the peak ...
- CoreLogic: Foreclosed Homes Cut by More Than One Third
Housing Wire 29 Apr 2014
The latest statistics from CoreLogic reflect modest improvement in foreclosure activity.
According to the numbers, 48,000 foreclosures were completed in this country last month -- down ...
- U.S. Report Sees Deeper Bank Flaws on Loans
New York Times 29 Apr 2014
Foreclosure mistakes made by banks might have been significantly higher than previously believed when regulators abruptly ended a national review of their mortgage servicing operations, suggests a ...
- Lenders Put a Postcrisis Twist on the Adjustable-Rate Mortgage
American Banker 29 Apr 2014
Adjustable-rate mortgages, with their lower initial rates, are resurfacing as interest drifts higher.
Although it is not unusual for ARM volume to rise when fixed rates go up, today's ...
- Mortgage-Loan Limits Hit Buyers in High-Cost Housing Markets
Wall Street Journal 28 Apr 2014
The ceiling on conventional mortgages penalizes home buyers in expensive housing markets, according to Trulia.
The company conducted a city-by-city comparison of the 100 biggest U.S.
- Wells Fargo Settles Remaining 'Robo-Signing' Mortgage Litigation
Los Angeles Times 24 Apr 2014
Wells Fargo has agreed to spend $67 million on mortgage-related issues to settle remaining civil litigation stemming from the "robo-signing" debacle.
- Lenders Ease Mortgage Rules in Hunt for Business
Wall Street Journal 20 Apr 2014
Private-sector mortgage lenders are warming to lower credit scores and down payments, although the underwriting bar remains high by historical norms.
- Foreclosure Rescue Fraud Epidemic Highlighted in New Report
National Mortgage Professional Magazine 18 Apr 2014
The Lawyers' Committee for Civil Rights Under Law has issued a new report that looks at trends in foreclosure rescue fraud and efforts to combat the problem.
- Delinquencies on Home Equity Loans, Credit Cards Head in Opposite Directions
American Banker 09 Apr 2014
The American Bankers Association (ABA) says delinquencies on home equity loans dropped to 3.48 percent in the fourth quarter 2013, down from a cyclical peak of 4.
- Feds Lack Options to Help HELOC Borrowers as Resets Loom
American Banker 07 Apr 2014
Homeowners could be looking at more pain in the next few years as their home equity lines of credit (HELOCs) reset.
- 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.
- 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.
- 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.
- 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.
- 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.