- Stressed Borrowers Rattle Resurgent Subprime Lending Industry
New York Times 12 Sep 2014
Subprime lenders in recent years have successfully issued billions of dollars in auto and other loans without alarming levels of defaults, but there are indications that their luck may be running out.
- When You Can Max Out Student Loans ? And Not Have to Pay It All Back
Washington Post 11 Sep 2014
Income-based repayment (IBR) programs for student loans that also offer loan forgiveness after a certain number of payments may give people going into public-sector or nonprofit jobs the ability to ...
- Obstacles to Making Affordable Mortgages Mount
American Banker 11 Sep 2014
Residential lenders will continue to have a difficult time providing affordable home loans and broader access to credit, industry experts said at the American Mortgage Conference in Raleigh, N.C.
- Home Buyers' Down Payment Rate Hits 17.28 Percent; Less in West Virginia, More in Hawaii
Tacoma News Tribune (WA) 11 Sep 2014
Online mortgage firm Lending Tree reports that the lowest down payments in the country last month were in West Virginia, where they averaged 14.42 percent on a 30-year fixed loan.
- Industry, Consumer Groups Tell Fannie, Freddie Regulator Not to Raise Mortgage Fees
MarketWatch 11 Sep 2014
Consumer advocates and industry groups agree that the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac, should not hike "guarantee" fees that the two companies ...
- CFPB Chief: Prepare for New Mortgage Regs
The Hill 10 Sep 2014
Speaking at a credit union conference this week, Consumer Financial Protection Bureau head Richard Cordray offered a snapshot of the agency's next round of mortgage regulation.
- Renters Fear They Lack the Credit, Not Just the Cash, To Buy a Home
Washington Post 08 Sep 2014
After analyzing the results of a consumer sentiment poll, researchers at the Federal Reserve Bank of New York found that many renters who want to buy a house may not even try out of fear that they ...
- PSC Supports Limiting Utility Bill Payments at Payday Lenders
St. Louis Post-Dispatch 04 Sep 2014
Most members of the Missouri Public Service Commission (PSC) support a new rule that would block utilities from allowing customers to pay their bills at payday lending locations.
- CFPB Ramps Up Scrutiny of Credit-Card Issuers
Wall Street Journal 03 Sep 2014
The Consumer Financial Protection Bureau this week called big credit-card companies to task for failing to thoroughly disclose the hidden risks of zero-interest balance transfers, convenience checks, ...
- New York Set to Accuse Evans Bank of Redlining
New York Times 02 Sep 2014
New York Attorney General Eric Schneiderman is leading an investigation into whether banks are “redlining,” the practice of deliberately cutting off mortgage lending to particular ...
- 2.5 Million Borrowers Face Imminent Payment Shock
Housing Wire 02 Sep 2014
By Black Knight Financial's estimate, 2.5 million Americans will see an average $250 more tacked onto their monthly mortgage payment as interest rates on home equity lines of credit (HELOCs) reset ...
- Helena City Council Sets Limits on Payday, Title Loan Businesses
AL.com 02 Sep 2014
Officials in Helena, Ala., have limited payday and auto title lending outlets to one location per 10,000 residents.
- Kennesaw Puts Moratorium on New Quick Cash Stores
WSBTV.com (Atlanta, GA) 31 Aug 2014
City leaders in Kennesaw, Ga., have placed a one-year moratorium on all new quick-cash stores, including auto title lenders and pawn shops.
- Home Equity Lines of Credit Surge as Banks Approve Loans to More and More Owners
Washington Post 30 Aug 2014
Homeowners nationwide are accessing home equity credit lines at an increasingly faster clip.
New data from Experian and researchers at the Oliver Wyman consulting organization shows that ...
- U.S. Housing Regulator Seeks More Support for Poor Borrowers
Reuters 29 Aug 2014
The Federal Housing Finance Agency (FHFA), which governs Fannie Mae and Freddie Mac, is stepping up the support offered by the firms to low-income borrowers.
- College Grads Face High Hurdles to Buying First Homes
MarketWatch 28 Aug 2014
Recent college graduates who are paying off student debt and want to buy a home need to earn about one-third more annually, or an average of $8,969 more, than their debt-free peers, RealtyTrac ...
- Treasurer: Bill Helps Protect Retirees From Predatory Lenders
KFVS12.com (Missouri) 28 Aug 2014
A new bill in Missouri protects the state's public retirees from predatory lending involving pension advances. House Bill 1217 took effect Aug.
- FHA Tweaks Interest Rate Rules to Align With QM
American Banker 28 Aug 2014
Home sellers will be able to close at any time of the month without paying extra interest, under revisions being made to FHA rules.
- Here Are the Most Active States for Mortgage Fraud Schemes
Housing Wire 27 Aug 2014
Fraud investigators at Freddie Mac have pinpointed California, Nevada, Arizona, Florida, and Michigan as the nation's hot spots for mortgage fraud.
- Thousands in Texas Lose Cars Amid Calls for Loan Restrictions
New York Times 24 Aug 2014
While many states have passed restrictions on payday and auto title lenders, a lack of oversight in Texas has allowed the industry to grow into a $4 billion-a-year machine.