- Auto Buyers Load Up on Record Amount of Loans
NBCNews.com 03 Jun 2014
Auto buyers borrowed a record amount in the first quarter with the average monthly payment climbing to an all-time high of $474, according to a new report from Experian Automotive.
- Delinquent Mortgages Up
Investor's Business Daily 03 Jun 2014
Black Knight reports that the share of home loans that are delinquent increased a bit to 5.62 percent in April from 5.52 percent in March.
- Massachusetts Sues Fannie and Freddie Over Foreclosure Law
New York Times 03 Jun 2014
Massachusetts Attorney General Martha Coakley has sued Fannie Mae and Freddie Mac for failing to comply with the state's anti-foreclosure law, enacted in 2012.
- Debt Collectors Have Figured Out a Way to Seize Your Wages and Savings
Huffington Post 02 Jun 2014
Consumers often complain about being harassed by debt collectors, including via late-night phone calls or in-person visits.
- Why Homeowners Who Got Mortgage Help May Still End Up Losing Their Homes
Washington Post 02 Jun 2014
Based on an analysis of mortgages modified between 2008 and 2013 to help distressed homeowners dodge foreclosure, many of the loans may be back in danger of default as their temporary interest rate ...
- CFPB Faces Hard Choice on Regulating Auto Title Loans
American Banker 30 May 2014
The Consumer Financial Protection Bureau (CFPB) is facing a challenge in creating effective limits for small-dollar consumer credit.
- Owners Tapping Equity in Homes
Wall Street Journal 30 May 2014
Home equity lines of credit (HELOCs) and home equity loans rose 8 percent in the first quarter compared to a year ago, according to industry newsletter Mortgage Finance.
- U.S. Probes Possible Overcharging by Banks on Foreclosure Fees
Reuters 29 May 2014
U.S. Attorney Preet Bharara's office in Manhattan is investigating PNC Financial Services, PHH Corp., MetLife, Santander Holdings, and Citizens Financial over whether they overcharged the government ...
- Santander to Face Suit Claiming Bias in Mortgages
New York Times 29 May 2014
The city of Providence, R.I., plans to sue Santander Bank for deliberately shutting off home lending in mostly minority neighborhoods.
- Wells Fargo Can't Shake L.A. Lawsuit Over Predatory Loans
Bloomberg Businessweek 28 May 2014
A Los Angeles judge has rejected Wells Fargo's request to dismiss litigation lodged against it by the city of Los Angeles over widespread foreclosures during the housing slump.
- Mortgage Probes Shift to Smaller Banks
Wall Street Journal 27 May 2014
After reaching billion-dollar settlements with large banks such as JPMorgan Chase and Bank of America, U.S. housing officials are focusing on smaller lenders and servicers.
- One-Third of Americans Have Overdraft, Nearly Half Carry Credit Card Debt
PFHub 27 May 2014
U.S. spenders are trying to lower their debt burdens, but credit card debt continues to dog them. A study by MagnifyMoney shows that Americans have on average $15,191 in card debt and are lacking in ...
- Consumers Are Back to Paying Mortgages Ahead of Credit Cards
Wall Street Journal 27 May 2014
Research from TransUnion shows that at the end of 2013, after about two years of home appreciation, borrowers resumed their normal pattern of paying the mortgage before credit cards.
- Dispute Over Banking Group's Analysis of Mortgage Denials to Blacks
New York Times 24 May 2014
The Mortgage Bankers Association (MBA) recently reported that 56 percent of blacks who applied for a common type of mortgage were denied.
- 4 Housing Bills That Could Make Mortgage Lending Much Easier
Housing Wire 22 May 2014
Action on Capitol Hill May 22 saw the passage of three pieces of legislation that supporters in the finance industry say will facilitate mortgage lending.
- Payday Lending Bill Stalls on Final Day
Associated Press 19 May 2014
A bill to protect Minnesota borrowers from payday lenders, backed by Gov. Mark Dayton, did not win final approval from state lawmakers by the end of their session on May 16.
- Fort Worth Takes a New Look at Restrictions on Payday Lending
Fort Worth Star-Telegram 18 May 2014
Fort Worth is the only major city in Texas that has not yet passed an ordinance to restrict payday lenders, but city leaders are reexamining the issue.
- NC Attorney General Sues Debt-Settlement Firm That Collected More Than $1.1 Million
Raleigh News & Observer (North Carolina) 16 May 2014
North Carolina Attorney General Roy Cooper has sued Chicago-based Legal Helpers Debt Resolution (LHDR), alleging that it ran an illegal scheme that swindled 412 state residents out of more than $1.
- Hopes Fade for Bill to End Fannie, Freddie
Washington Post 16 May 2014
The Senate Banking Committee on May 15 passed a bill that would dissolve Fannie Mae and Freddie Mac.
However, the measure did not attract a large enough majority and is unlikely to reach ...
- Car Buyers Upside Down on Auto Loans
Chicago Tribune 15 May 2014
In the first quarter of 2014, 27 percent of new-vehicle buyers who traded in an old model owed more on the trade-in than it was worth, according to the Power Information Network (PIN), a unit of J.D.