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 »
The recent security breach affecting millions of Target customers has re-ignited Congressional interest in legislation to strengthen consumer protections against cyber-crimes. A bi-partisan measure sponsored by Sens. Tom Carper (D-DE)… Read More »
Although home prices have been rising steadily (up more than 10 percent last year) owners’ confidence in the value of their homes plunged in December, with only 53 percent of… Read More »
UNKIND CUTS
New York Gov. Mario Cuomo has proposed legislation that would allow the state Department of Financial Services to slash title insurance premiums by 20 percent for home purchases and by… Read More »
“I see it in you. I see the fire….I see you with a baseball bat walking around the hall.” ─ Jon Stewart, interviewing CFPB director Richard Cordray on “The Daily… Read More »
“To advocates, eminent domain offers perhaps the only chance to remedy the failure of the federal government and mortgage servicers to offer widespread, meaningful relief to the hardest-hit communities.” ─… Read More »
“A lender’s internal workflow and processes need to be right, but it is equally as important for a lender’s third-party vendors to have their internal workflow and processes correct as… Read More »
“Under the new CFPB rules, about half the prospective homeowners in this country can’t get a mortgage from a bank because the new laws have greatly restricted credit access.” ─… Read More »