- 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.
- 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 ...
- 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.
- 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 ...
- 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 ...
- 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.
- 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.
- 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.
- New FICO Model May Not Help Home Buyers Anytime Soon
Washington Post 23 Aug 2014
Despite the tremendous media buzz surrounding the rollout of FICO's latest credit score -- which lessens the impact of medical debt and treats borrowers with limited histories more fairly -- the new ...
- Ky. Payday Lenders Face Stiffened Enforcement
Louisville Courier-Journal (KY) 22 Aug 2014
The number of payday lenders in Kentucky has declined over the last three years, from 750 stores to 539, due to increased state and federal scrutiny.
- Government to Payday Lenders: Don?t Sue Us, Sue the Banks
Washington Business Journal 22 Aug 2014
Payday lenders should sue banks that refuse to take their deposits instead of suing the government, according to a group of lawyers representing the Federal Deposit Insurance Corp.
- CFPB Picks 12 Companies for Mortgage Closing Study
American Banker 22 Aug 2014
The Consumer Financial Protection Bureau (CFPB) has selected seven mortgage companies and five vendors to participate in a pilot program that will gauge whether electronic closings benefit consumers, ...