Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- 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 ...
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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 ...
- 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.
- 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.