Mortgage News

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

 

Items 141 - 160 of 200  Previous12345678910Next
  • Opinion: NJ Court Resurrects American Dream From Foreclosure Nightmare 
    NJ Spotlight 21 Jan 2014
    New Jersey Chancery Judge Peter Doyne ruled in December that Wells Fargo Bank committed “actionable fraud” and “predatory lending” when it persuaded Oscar Montesdeoca to ...
  • Lenders to Follow Useful New Rule on Appraisals 
    Daily Herald 17 Jan 2014
    U.S. lenders now have to tell mortgage applicants that they are entitled to a free copy of whatever appraisals, reviews, computer valuations, and other data were used to calculate the amount they are ...
  • Lawmakers Urge FHFA to Eliminate FICO Requirement in Seller/Servicer Guidelines 
    BankCreditNews.com 17 Jan 2014
    The Federal Housing Finance Agency is under pressure from legislators to strike a requirement from Fannie Mae and Freddie Mac's seller/servicer guidelines that underwriting be performed with a FICO ...
  • CFPB Nails Mortgage Lender for Illegal Referral Kickbacks 
    Reverse Mortgage Daily 16 Jan 2014
    The Consumer Financial Protection Bureau (CFPB) has ordered Missouri-based Fidelity Mortgage Corp. and its president, Mark Figert, to pay more than $80,000 for delivering illegal kickbacks to a bank ...
  • Foreclosures Hit 6-Year Low in 2013 
    Associated Press 16 Jan 2014
    According to RealtyTrac, lenders initiated foreclosure proceedings against 747,728 homes in 2013 -- the lowest yearly amount since 2006, before the housing meltdown.
  • Housing Bust Hurt Minority Home Values Most 
    USA Today 16 Jan 2014
    The housing bubble hit home values in Hispanic communities the hardest, according to a new report from market researcher Zillow.
  • Foster Introduces Legislation to Reduce Burden for Underwater Homeowners 
    Chicago Tribune 14 Jan 2014
    U.S. Rep. Bill Foster (D-Ill.) has introduced legislation that would extend tax relief to underwater homeowners who have received loan workouts.
  • Mortgage Relief Firms Agree to Pay $3.6 Million for Alleged Scam 
    Los Angeles Times 14 Jan 2014
    To resolve allegations that they scammed homeowners nationwide, a cabal of Florida-based firms and their operators have agreed to pay almost $3.6 million.
  • Richmond Seeks Partners for Plan to Seize Mortgages Using Eminent Domain 
    Modesto Bee (California) 13 Jan 2014
    In California, Richmond City Council members have failed to garner the supermajority of votes needed to enact a controversial plan that would use eminent domain to seize underwater mortgages and reduce the amounts borrowers owe. Now, Richmond Mayor Gayle McLaughlin and council members who support the plan are trying a different tactic.
  • In 15 States, Deeply Underwater Foreclosures Still Reign 
    Washington Post 13 Jan 2014
    Although the residential real estate market is slowly improving, weak spots continue to linger. In 15 states, RealtyTrac reports that the share of "deeply underwater" foreclosures was greater than ...
  • Mortgage Delinquencies Reach 6-Year Low, Near Normal Levels 
    U.S. Finance Post 13 Jan 2014
    CoreLogic reports that all of the typical measures of mortgage distress -- serious delinquencies, foreclosures in process, and completed foreclosures -- declined in November. The U.S.
  • Wall Street Predicts $50 Billion Bill to Settle U.S. Mortgage Suits 
    New York Times  10 Jan 2014
    Wall Street banks anticipate that they will have to pay almost $50 billion to ease the scrutiny of federal authorities investigating their role in the mortgage meltdown, according to a confidential analysis of the industry's potential legal exposure.
  • New Mortgage Rules Aim to Protect Home Buyers, Owners 
    Washington Post 10 Jan 2014
    New rules take effect on Jan. 10 to protect U.S. borrowers from the kind of abusive lending that helped cripple the housing market six years ago. Despite industry concern that the changes will shut lower-income and other Americans out of the opportunity to buy a home, experts say the Consumer Financial Protection Bureau's mandates will cultivate sustainable homeownership by lending only to consumers who have the ability to repay their mortgage.
  • CFPB May Revisit Small Bank QM Exemptions 
    American Banker  08 Jan 2014
    The Consumer Financial Protection Bureau may look at widening exemptions for small lenders from its qualified mortgage rule taking effect on Jan. 10, said agency head Richard Cordray. During a discussion hosted by the National Association of Realtors on Jan. 7, Cordray said the CFPB tried to design the exemption to avoid burdening smaller lenders but was willing to tweak the requirements once the agency determines the rule's impact.
  • CFPB Releases New Consumer Resources to Better Handle Rule Changes 
    National Mortgage Professional  07 Jan 2014
    The Consumer Financial Protection Bureau has made more resources available to consumers related to the new protections afforded by its mortgage rules. The educational materials include sample letters that consumers can send to their mortgage servicers to request information or to correct an error.
  • Foreclosures to Increase as US Housing Recovers 
    Live Trading News 07 Jan 2014
    RealtyTrac predicts that foreclosures will increase as the housing market recovers, mainly because lenders will accelerate the foreclosure process to take advantage of higher prices and more willing and able buyers.
  • Regulator Signals Direction Change in Housing Policy 
    Wall Street Journal 06 Jan 2014
    The new regulator of Fannie Mae and Freddie Mac likely will focus more on ensuring access to mortgage credit than on curtailing the role of the government-sponsored enterprises or other policy goals.
  • Will It Be Easier to Get a Mortgage in 2014? 
    The Street 03 Jan 2014
    Tighter controls on mortgage lending take effect this year, and the prospect has stoked fears of a drastic reduction in credit as banks adjust to the new reality.
  • Adjustable-Rate Mortgages Regain Popularity as Prices, Rates Rise 
    Los Angeles Times 01 Jan 2014
    Adjustable-rate mortgages fell out of favor with borrowers when the housing market came crashing down but last year started what could turn into a full-fledged comeback. With property prices and mortgage rates creeping up in 2012, more consumers saw ARMs as a way to keep their monthly payments in a workable range.
  • Mortgage Program Pans Out 
    Wall Street Journal 31 Dec 2013
    The federal Home Affordable Refinance Program (HARP), launched not long after President Obama took office in 2009, is proving to be one of the administration's more successful efforts in addressing the country's foreclosure epidemic. Nearly 3 million homeowners -- nearly a third of whom were upside down on their mortgages -- have been able to refinance under the initiative
Items 141 - 160 of 200  Previous12345678910Next