Federal bank regulators have made it clear that they will hold financial institutions responsible for the actions – and lapses – of the vendors with which they do business. This… Read More »
The Washington state Supreme Court has held that a title insurance underwriter may be liable for the allegedly illegal marketing activities of one of its agents. Although Washington state’s restrictions… Read More »
The CFPB has published a new consumer guide explaining the “ability to repay” and “qualified mortgage” rules and offering advice to consumers on how to take advantage of the protections… Read More »
The CFPB has published the final rules implementing the new “Integrated Mortgage Disclosures.” The rules, which take effect August 1, 2015, replace the RESPA Good Faith Estimate and HUD-1 disclosures… Read More »
The Consumer Financial Protection Bureau has requested comments on the closing process – specifically, how it might be improved. An article by Joe Drum, WFG’s executive vice president in charge… Read More »
Can mortgage rates predict the Super Bowl winner? HSH, an analyzer of mortgage data, thinks so. The company notes that in the divisional playoffs, the team from the city with… Read More »
Some housing analysts have blamed low household formation rates ─ the result off limited job prospects for young adults ─ for scaled-back projections of future home buying demand. Birth rates… Read More »
Consumers would benefit if bankers spent less on marketing to consumers and more on educating them, according to the Consumer Financial Protection Bureau. A CFPB study found that the industry… Read More »
IF ONLY
Nearly half of all the mortgage defaults occurring during the housing bust would have been avoided had the Qualified Mortgage rules that took effect in January been in effect, a… Read More »
It will take at least another two years for lenders to clear the shadow inventory of non-performing loans, according to Standard & Poor’s. Although progress has been slower than anticipated,… Read More »