Read the latest news about mortgages, foreclosures, servicers, loan modifications, HAMP, Dodd-Frank, Qualified Residential Mortgage (QRM), mortgage brokers and more.
- New U.S. Housing Regulator Hears Concerns on Tight Credit
Reuters 20 Feb 2014
Federal Housing Finance Agency (FHFA) director Mel Watt has made a point of meeting with housing and real estate trade groups, demonstrating that he is taking their concerns regarding credit ...
- Mortgage Group Calls for Reducing FHA Annual Premiums
American Banker 19 Feb 2014
The Community Home Lenders Association wants the Obama administration to reduce the annual premium on FHA-backed home purchase loans.
- Lawmaker Urges U.S. Regulators to Scrutinize Mortgage Servicers
New York Times 19 Feb 2014
Rep. Maxine Waters (D-Calif.) this week dispatched a letter urging regulators to closely evaluate sales of mortgage servicing rights from banks to non-bank specialty servicers.
- Official 'Deeply Disappointed' by Mortgage Servicing Problems
Wall Street Journal 19 Feb 2014
Consumer Financial Protection Bureau deputy director Steve Antonakes on Wednesday lambasted mortgage servicers for what he said is their continued poor handling of consumers.
- Loan Complaints by Homeowners Rise Once More
New York Times 19 Feb 2014
As struggling homeowners try to dodge foreclosure, more are running into problems with servicers -- the firms that collect mortgage payments.
- Geographic Gap Marks Mortgage Interest Deduction Benefit
Bloomberg 18 Feb 2014
A report by the Congressional Research Service indicates that the mortgage interest deduction is unevenly distributed across America, with a nearly $250 difference between states with the highest and ...
- Cannella Bill Would Help Struggling Homeowners
Salinas Californian (CA) 18 Feb 2014
In California, Sen. Anthony Cannella (R-Ceres) on Feb. 18 rolled out legislation designed to protect distressed homeowners from inflated tax bills as a result of mortgage workouts that erased some of ...
- Dan Walters: The Dark Side to California Mortgage Relief
Fresno Bee (CA) 17 Feb 2014
California Attorney General Kamala Harris in 2012 reached a landmark deal with the three largest U.S. housing lenders, under which the lenders agreed to provide $12 billion in relief to homeowners in ...
- New Mexico Senate Democrats Aim to Prevent Improper Foreclosures
KRWG News (NM) 17 Feb 2014
State senators in New Mexico want to assemble a task force that would be charged with developing recommendations to the legislature on how to keep homeowners in the state from being wrongfully ...
- Mortgage Help for Members of the Military
Fox Business 17 Feb 2014
Job stress, time constraints, and general instability have all made the housing crisis more severe for members of the U.S. military, the Consumer Financial Protection Bureau (CFPB) reports.
- Wells Fargo Plans to Ease Some Rules on Mortgages
Wall Street Journal 16 Feb 2014
Wells Fargo, the biggest U.S. mortgage lender, has announced that it will lower its minimum credit score for FHA eligibility on home loans.
- FHFA Needs to Exercise More Oversight of Mortgage Servicers: Watchdog
American Banker 14 Feb 2014
The inspector general of the Federal Housing Finance Agency (FHFA) says the agency needs more checks in place to ensure that servicers of Fannie Mae and Freddie Mac mortgages are helping troubled ...
- Nevada A.G. Agrees to Deal in Lender Fraud Civil Lawsuit
Reno Gazette-Journal 14 Feb 2014
The company formerly known as Lender Processing Services (LPS) has settled a "robosigning" lawsuit lodged against it in Nevada -- the only state not to accept a nationwide payout from the firm -- ...
- HOPE NOW: Mortgage Servicers Completed 768,000 Loan Mods in 2013
Mortgage Orb 13 Feb 2014
HOPE NOW -- a coalition of loan servicers, mortgage insurers, investors, and nonprofit counselors -- reports that U.S. homeowners benefited from 768,000 modifications last year.
- RealtyTrac: Monthly Foreclosure Filings Reverse Course, Rise 8 Percent
Housing Wire 13 Feb 2014
Monthly foreclosure filings took a surprising turn and rose 8 percent to 124,419 last month from December, reports RealtyTrac.
- NY Regulator Says U.S. Non-Bank Mortgage Servicers Growing Too Quickly
Reuters 12 Feb 2014
Benjamin Lawsky, superintendent of New York's Department of Financial Services, is pressing for a clamp-down on the dramatic growth of non-bank mortgage servicers until such companies can get a ...
- Late Payment Rate on Mortgages Falls
Associated Press 11 Feb 2014
The return of home appreciation, a strengthening job market, and mortgage modification programs have bolstered Americans' finances, allowing more of them to keep current on their home loans.
- A New Effort in Albany to Put Lenders in Charge of Abandoned Properties
The New York Times 10 Feb 2014
Thousands of zombie homes (about 15,000) across New York State sit abandoned by their owners, leaving the low-value properties to fall apart or burn down as lenders take years to wrap up foreclosure ...
- HARP Hits 3 Million Mark
Mortgage Orb 10 Feb 2014
The Home Affordable Refinance Program (HARP) has now helped more than 3 million borrowers to refinance their homes, confirms the Federal Housing Finance Agency.
- Repaying Home Equity Loans
New York Times 09 Feb 2014
Borrowers who took out home equity lines of credit (Helocs) between 2004 and 2007 -- the top of the housing bubble -- can expect to see their monthly payments swell over the next few years.